Escalating Demand Supports an Uptrend in Global Oxytetracycline Hydrochloride Prices
Escalating Demand Supports an Uptrend in Global Oxytetracycline Hydrochloride Prices

Escalating Demand Supports an Uptrend in Global Oxytetracycline Hydrochloride Prices

  • 13-Feb-2023 6:39 PM
  • Journalist: Francis Stokes

Oxytetracycline Hydrochloride prices have been rising consistently across the globe owing to an increase in demand from end-user sectors. The Chinese economy started recovering quickly due to the lifted COVID limitations and subsequent liberalization. Meanwhile, the rapid response of central banks and improved economic dynamics in the main European country like Germany helped reduce inflationary pressures.

As market players proceeded to replace their available inventory in the domestic market after the Chinese Lunar New Year vacation; hence, the price of Oxytetracycline Hydrochloride increased significantly in the Chinese market. Operating rates for domestic manufacturing have grown as demand in the domestic market has strengthened. According to some traders, the increase in demand from the healthcare and pharmaceutical end-user markets has supported the uptrend in Oxytetracycline Hydrochloride prices. In January 2023, the National Bureau of Statistics reported that China's industrial activity increased as supply and demand improved. Additionally, in January, China's manufacturing sector's official purchasing index increased from 47 to 50.1. Thus, Oxytetracycline Hydrochloride pricing was established at USD 13850/MT with a 3.0% monthly increase during the same time frame.

Similarly, the strong demand from end-user industries has driven a sharp increase in the price of Oxytetracycline Hydrochloride in the German market. The Consumer Pricing Index (CPI) increased 1%, reversing a 0.8% decline in December, while the Purchasing Managers' Index (PMI) increased to 47.3 in January 2023 from 47.1 in December but stayed lower than 50 points in the German market. However, inflationary pressures have also been easing, which has improved consumer confidence. However, the pressure on input costs was reduced in Europe after the fall in energy prices, which helped to temper the subsequent drop-in economic activity. In addition, after the Chinese New Year's holiday, the supply from significant exporting nations like China surged and issued high-price bids. Consequently, Oxytetracycline Hydrochloride prices rose by 5.1% on a monthly basis in the German domestic market.

According to ChemAnalyst, "Oxytetracycline Hydrochloride prices are anticipated to increase in the global market as demand from end-user industries is continued to rise."

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