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3-Minute Market Insight

EP 480 | AIRED 03/23/2020

China Covid-19 Update, Tradex Business Continuity & Pricing

March 23rd, 2020 --- In this week's episode we give you a quick update on the current situation in China, and a look at prices amidst the Covid-19 situation.

---- Here is the update this week.

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There are less Russian boats coming to China, due to the boats needing to be disinfected and isolated for 14 days before they dock and offload. Because of this, Russian raw material might go up later.

Due to lots of containers being stuck in China, suppliers in the EU and North America are having problems finding containers to load products.

Therefore freight to China has increased dramatically, from $2000 to $8000 per container from EU to China. We might see raw material prices increase as well from EU and North America.

This Weeks Sponsored Message:

Our Business Continuity for Covid-19

--- Besides these increases, most raw materials prices have remained steady since last week.

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Starting with Flounder: Raw material remains stable, around $1850/MT for M size.

Atlantic Cod: Raw material pricing still strong, at $4550/MT CFR China.

Pacific Cod: Raw material pricing is getting stronger and stronger, Russian trawl is around $3400/MT, with long line $3800/MT. And Alaskan raw material is about $500 more.

With Salmon we're predicting a short next season, so Russian boats have already started raising their prices.

Haddock: Raw material pricing has stayed strong, $3600-3700/MT.

Halibut: Pricing is still at a comparatively lower level, around $7500/MT CFR China.

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