Rising Energy Cost and High Inflation is Pressurizing European Atenolol API Prices
- 10-Nov-2022 2:03 PM
- Journalist: Nicholas Seifield
Hamburg: Atenolol API price is continuing to rise due to many factors, such as increased demand from the pharmaceutical end-user industries, rising inflation, and low stock levels among regional suppliers in the European region. Rising energy costs in Europe have the potential to hasten the production of life-saving drugs, jeopardizing the supply chains for pharmaceuticals like Atenolol API. During the previous month, consumer demand for Atenolol API shifted dramatically, putting prices on the upper side. Germany's annual inflation rate climbed to 10.4% in October 2022, the highest on record since 1990.
The researcher found that the cost of Atenolol API increased by 4.91% in the European region. Rail services across the continent have been impacted by port congestion, particularly in Hamburg, as well as cargo bunching strike activities and cancellations. These concerns further affected the already overburdened trucking sector. The European market sentiments were further hampered by the strike against the steaming costs in the UK's Liverpool port, which lasted until mid-October.
The lengthy production halt caused by the golden week in China affected the market of APAC and Europe regions, further impacting the Atenolol API price. Due to the pharmaceutical industry's reliance on the APAC region, the market showed characteristics of the Asian market. Due to a low stockpile and insufficient supply to meet downstream demand, Atenolol API prices have surged. Additionally, Germany's amount of marine freight and road congestion has significantly altered the situation.
According to the chemanalyst, the cost of Atenolol API is expected to rise sharply in the upcoming months. Trading momentum may still be affected, and it is anticipated that local suppliers will increase their prices in response to the client's growing demand.