Diclofenac Sodium Market Witnesses a Stable Trajectory Across the Globe
- 22-Mar-2023 5:19 PM
- Journalist: Jai Sen
The price of Diclofenac Sodium has been recorded as generally stable in the US market since the beginning of January and is anticipated to continue following a stable trajectory in the upcoming months of 2023 due to the supply-demand equilibrium from the pharmaceutical end-user sectors. Consumer confidence has steadily increased while inflationary pressure has decreased, affecting the market situation. Low-cost Asian imports, a lackluster demand situation, and a glut of supply in the relevant market have all contributed to Diclofenac Sodium price stabilization.
Given the decreased demand from both domestic and international markets, Diclofenac Sodium prices witnessed a stable trajectory in the Chinese market. There are substantial stockpiles of Diclofenac Sodium among the domestic market players. On the other hand, demand from downstream industries, such as the pharmaceutical industries, has slowed down, although sufficient inventories can meet the demand. According to the sources, China's export rate for January and February 2023 decreased by roughly 6.8%.
As the first quarter of 2023 began, weaker demand led to lower pricing for Diclofenac Sodium. A reduction in the Purchasing Managers Index for February 2023 was also seen in the European region, with the Eurozone Manufacturing PMI falling to 48.5, reflecting a monthly decline of 0.6% and remaining in contraction. Production of Diclofenac Sodium started rapidly after the Christmas holiday, and some companies mostly filled early export orders, which resulted in enough inventories among the market players.
In addition, pricing for diclofenac sodium remained unchanged in the US market due to steady demand dynamics. The domestic market saw a fall in pricing because of the low Asian import prices. Also, charges for shipping containers from Asia to the USA have been dropping as port congestion on the East and West coasts has substantially decreased due to a decline in demand for goods among Americans.
According to ChemAnalyst, the prices for Diclofenac Sodium will continue to remain stable in the following month due to steady demand and adequate inventories among the market players.