In the United States, the Ofloxacin API market continued to demonstrate an increased price sentiment over the past few months and is still in a higher state owing to a rise in demand from downstream sectors. Insufficient supply and shortage of stocks were the two main factors behind the continuous surge in the Ofloxacin API prices. Increasing demand and escalating energy costs kept the Ofloxacin API prices on the higher side.
Last month Ofloxacin API Market witnessed an inclination of 1.37% in the USA. The expanding demand and increased upstream crude oil prices supported the price tendance for this API in the international market. Meantime, consistent requirements from the downstream pharmaceutical sectors result in strong buying sentiments, colliding with supply sides from various economies, mainly from China.
Moreover, China, one of the prominent exporters of Pharmaceutical API globally, halted its manufacturing process amidst strict policies imposed on the domestic market. Partial lockdown conditions in various states of China affected the supply chain and logistics momentum, which led to port congestion or delayed overall shipments to other countries, keeping the prices on the higher side.
In terms of the trade tendency, Ofloxacin API experienced cost escalation with affected transportation due to the climatic changes (heat waves), owing to which the trade activities were halted, and the overall consignments were delayed. Thus, the Ofloxacin API market witnessed a supply-demand gap that compelled Ofloxacin API to showcase tight market sentiments over the course of the month. Additionally, Russia's Ukraine invasion also affected the energy sector and exuberated logistic charges globally, which led to port congestion and positively supported the downstream market sentiments of Ofloxacin API.
According to ChemAnalyst, "The demand for Ofloxacin API in the United States is likely to bottle up in the forthcoming months. This might be due to consistent downstream consumption and demand from pharmaceutical industries".
