Biotin Prices in China rising gradually, following the Lunar New Year
- 02-Mar-2022 6:14 PM
- Journalist: Nina Jiang
The manufacturing activities are usually distorted at the beginning of each year due to the week-long Spring Festival holidays, and this year the markets in China followed the same trend along with other uncertainties, including the unprecedented outbreak of covid and geopolitical tensions. Many enterprises and factories witnessed forced closures due to the zero-tolerance coronavirus policy as a measure to curb the spreading of virus. However, according to an industry expert, “Production in the manufacturing industry gradually returned to normal post the Lunar New Year.” He further added, “Government policies unveiled recently to promote steady economic and industrial growth also led companies’ business confidence to improve further.” As China introduced its zero-Covid policy, a number of companies said they were highly affected by China’s visa and travel restrictions.
China’s markets gained momentum with broad improvement last month as the nation overcame Omicron outbreaks and enjoyed resurgent demand post CNY holiday. However, market participants continue to grapple with material and labour shortages, forcing factories to reduce production. The demand for several nutraceutical products has increased substantially post Spring Festival holidays and Beijing Winter Olympics that took place from 4th Feb to 20th Feb, 2022. As per ChemAnalyst, “ The prices of Biotin are moderately rising in the Chinese domestic market on the back of the increased demand from the downstream pharmaceutical industries. The manufacturing activities and new orders expanded in February despite the interruptions caused by the festive season in China amidst supply shortages, inflation, and disruptions.
After China experienced its worst power crunch in decades last year, propelled by increased demand for electricity and skyrocketing coal and gas prices that triggered rationing in many provinces, military conflict between Russia and Ukraine is also likely to exacerbate the prices further in the upcoming period. The Chinese government liberalized the prices in the domestic power market to alleviate the pressure on coal-fired power generators that we are unable to raise tariffs to match surging coal prices.