Poor Demand Drives Down the Global Metoprolol Succinate Market
- 24-Nov-2022 7:11 PM
- Journalist: Peter Schmidt
Metoprolol Succinate prices have decreased again in Germany and the USA. Weak demand and accumulated supplies in the local market support this decreased price trend. Additionally, the price of Metoprolol Succinate has remained low by port congestion and recessionary fears.
Metoprolol Succinate prices in Germany dropped significantly in November 2022 compared to the previous month by roughly 0.48 percent. The market participants had to cut expenses and concentrate on the destocking process to maintain their profit margin due to the domestic market's reduced sales. The weaker price trends have also supported regional yard occupancy rates, vessel clustering, port congestion, delayed shipments, and the Russian-Ukraine war. Thus, the reliability of the supply chain supports the lower price of Metoprolol Succinate.
Moreover, the fear of recession was another factor supporting this price tendency which had dropped the demand from downstream pharmaceutical industries. Market participants claim that because of Europe's poor economic growth and buyers only placing orders when necessary, they have been forced to lower their future quotations and clear their backlogs.
A similar market pattern was also seen in the USA, where there was less demand than a month before. Furthermore, the congestion at the port supports the November Metoprolol Succinate pricing trends. In the USA, the price of Metoprolol Succinate decreased by 0.43 percent. Future settlements in the region fell with lower exports from exporting countries, primarily from China to Europe and other regions. Affected by the economy, the overall availability among the enterprises was high, with weak trading dynamics. The current demand is still weak, and a continuous stockpiling of inventories is likely to remain a concern for many suppliers in the forthcoming months.
According to ChemAnalyst, "Weaker demand is anticipated to keep the price of Metoprolol Succinate on the lower side. Market participants must have enough inventory to satisfy the region's immediate needs."