Ibuprofen Prices Trend and Forecast
North America
Ibuprofen displayed strong market
dynamics with minimal fluctuation in the first quarter of 2023. With the start
of Q1 2023, prices increased through the end of February, supported by
sustained purchases from the pharmaceutical end-user industry and merchant
stocks to meet demand. Also, the ease of trade disruption supported the
Ibuprofen market trend from January. With an average quarterly inclination of
1.32%, the settlement prices
of Ibuprofen API was recorded at USD 14580/MT CFR in New York. The
energy cost was also 19.1% higher in February than a year earlier. Also, better
trade flow and simpler logistic charges compared to the prior quarter
influenced the market situation positively. On the other hand, the prices
dropped in the month of March, backed by enough inventories and low offtakes
from the end-user sector.
Asia
Ibuprofen prices
witnessed an increasing trajectory in the APAC region in the first quarter of
2023. After the Lunar New Year break, the Chinese pharmaceutical markets
technically returned on a positive note with an increase in orders and
shipments from both the domestic and the international market. After a
week-long Lunar New Year break, Asian currencies, particularly the Chinese Yuan
(RMB), rose in the month of January as Chinese markets resumed trade. As the
market was reopened, factory and port operations resumed. Also, with the
soaring offtake and increase in the no. of international orders, Ibuprofen
prices increased in the Chinese market. At the termination of Q1 202, the settlement
price of Ibuprofen API accessed at USD 14550/MT EXW Hebei with an average
quarterly inclination of 1.56%.
Nonetheless, the prices
stabilized at the termination of Q1 2023, as the strict Covid laws lifted,
revitalizing the second-largest economy in the world. Also, the recovery of
production quickened, along with the rising demand, and kept the market stable.
Moreover, supply-chain conflicts greatly decreased, which improved trade with
foreign nations.
Europe
In the first quarter of 2023,
Ibuprofen showcased stable market dynamics with slight fluctuation. With the
commencement of Q1 2023, the prices rose till the end of February, backed by
consistent offtakes from the pharmaceutical end-user sector and inventories
among the merchants to cater to the demand. Further, the ease in trade
disruption reinforced January’s market trend of Ibuprofen. Also, the Euro
currency apprenticed against the USD in the month of January, influencing the
market sentiments. During the month of March, the settlement price of Ibuprofen
API came down to USD 14880/MT CFR Hamburg with an average quarterly inclination
of 0.42%. Moreover, by the termination of Q1 2023, the prices dropped by 1% as
the inquiries remained feeble and the merchants had enough supplies.
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