European Acebutolol API Prices Continue to Showcase an Upward Trend; Why?
- 07-Oct-2022 6:54 PM
- Journalist: Robert Hume
Hamburg, Germany: Acebutolol API prices show an upward trend in the European market. The demand from the pharmaceutical industry is still in its recovery phase, which might affect Acebutolol API prices and is likely to drive the market. Inflated prices continued to be galvanized by Energy costs and ascended inflation along with consumer confidence fell, affecting market sentiments. The demand dynamics, which are feeble but improving, also affected the Acebutolol API market. Also, the Hampered supply seems to be one of the aspects causing the rise in Acebutolol API prices. This week, the Acebutolol API prices showcased an inclination of approximately 5% and assembled at USD 126800/MT CFR Hamburg.
The European market unquestionably endures negative market sentiments with all the challenging circumstances in the country. As reported by the market participants, Europe is paying almost 7% more for gas, which has influenced their domestic market in several ways. Europe was already struggling with the natural gas supply as Russia cut off its natural gas supplies in late August owing to the Russia-Ukraine war conflicts. All these factors have been dominating the natural gas prices high in the European market, giving rise to the higher operating cost for several commodities.
Furthermore, the European supply chain, which was already disrupted due to port congestions and cargo bunching, will now experience port closure again. Additionally, the major exporting country China's retail activity slowed down because of the government's Zero Covid policy leading to continued supply disruptions and a leap in production cost. Labour strike in response to inflation will further cause port closures for over a week, leading to further halts in the supply chain.
ChemAnalyst anticipations that "The Acebutolol API prices would further increase in the upcoming weeks as port overcrowding, labor strikes, and energy setback in the European market. Furthermore, if downstream demand from the pharmaceutical industry increased, it would be one more aspect assisting the price hike of Acebutolol API in the domestic market."