Glucosamine Hydrochloride prices are likely to remain steady due to stable demand and supply across China
- 27-Jan-2022 3:50 PM
- Journalist: Xiang Hong
China’s strict zero-tolerance coronavirus policy is likely to face its toughest test yet in the next few weeks, as the winter Olympics and Lunar new year is approaching in the upcoming month. This strategy was first introduced by the central government early in the pandemic and involved large-scale lockdowns and shutdowns, mass testing, and international travel bans. The unprecedented spread of the Omicron variant in the largest Chinese ports, including Dalian and Tianjin, has raised fears for Suppliers and manufacturers that this spread could exacerbate the already strained global supply chains. After the companies witnessed a pressure-filled Christmas season last year, this new variant may not pose as much of a threat to supply chains as they would have a few months ago. According to a market expert, clients around the world could face the “mother of all supply-chain stumbles” this year, citing the growing epidemic across China. However, there are several products whose demand and supply have remained constant from the beginning of 2022, which includes Glucosamine Hydrochloride.
As per ChemAnalyst, the prices of Glucosamine Hydrochloride are likely to remain steady in the Chinese domestic market in the upcoming weeks, backed by strong demand and stable production. Following the stagnancy in the market trend, Glucosamine prices were settled at USD 7605 per tonne FOB Qingdao on 21st January. In terms of demand, offtakes from the downstream pharmaceutical and nutraceutical industry have been significantly strong from mid-December 2021, after the companies started destocking their inventories ahead of the year-end.
Chinese suppliers have already started preparing for a seasonal slowdown as the country enters the festive season. Beijing’s authorities have introduced several measures to curb the Omicron’s spread after the capital city reported several covid cases in less than two weeks before it hosts the Olympic Games. According to Chinese authorities, Beijing’s first case of the new delta variant could have arrived through a package from Canada.