The Chloroquine Phosphate API Market Gets Down to Business on a Positive Note

The Chloroquine Phosphate API prices are following an upward trajectory in February 2023 across the Asian and European markets due to improvement in demand and orders from end-user buyers. However, consumer confidence has increased due to the ease of inflationary pressures. Profitable arbitrage was seen among the regional players in their respective markets, and the supply-demand outlook seemed strong.

The Chloroquine Phosphate API market welcomes a good start after the Lunar New Year's holiday with bullish support from the eased pandemic prevention and control policy, recovering consumption, and moderate demand. Despite the rise in operating rate, the supply of Chloroquine Phosphate API can be described as tightly balanced. Also, the price of Chloroquine Phosphate API increased in January 2023 but the most after the Spring Festival holiday in support of heavy demand from the end-user pharmaceutical sector as drugmakers resumed their operations and saw high orders from consumers. New international orders have boosted trading of Chloroquine Phosphate API as traders focused on replacing their available inventories with fresh stocks. Consequently, some suppliers have canceled their earlier discounts and raised the Chloroquine Phosphate API price between 1.5–2%.

In Germany, Chloroquine Phosphate API prices have showcased steady growth, with an increase of USD 190-230/MT in mid-February. In most cases, prices have inclined ahead of the high demand, while some suppliers have applied slightly different price variations depending on their availabilities. The demand for Chloroquine Phosphate API has improved compared to the previous month, but a real recovery in the market has yet to be seen. As per the supply, the market players focus on increasing supply with fresh stock in the domestic market; meanwhile, buyers negotiate their prices before settling their deals for the month.

According to ChemAnalyst's team, the Chloroquine Phosphate API prices are expected to increase further as the market players foresee a surge in demand that will lead to the gearing of the manufacture and supply of the product.