Upcoming Chinese New Year Holidays Impact the Losartan Potassium Prices Globally
- 18-Jan-2023 3:04 PM
- Journalist: Timothy Greene
Heading to January 2023, prices of Losartan Potassium shift toward the higher side in the global market owing to a significant increase in plant operating rates which plummeted in the late fourth quarter of 2022. Factors contributing to the upward trajectory in Losartan Potassium prices include surging demand, production of fresh inventories, and high input costs. The latest evaluation reveals a significant price rise across major countries such as China, Germany, and the USA.
In China, Losartan Potassium prices showcased a downtrend in December 2022 as suppliers pushed back their quotations to destock their existing inventories. The country's economy has also been dragged down in the last quarter, but after China abandoned its zero COVID-19 limitations in early January 2023 and re-opened its border after three long years, the market sentiments have lifted. Also, the relaxation of the restrictions has resulted in an improvement in Losartan Potassium demand across China. In response, Losartan Potassium manufacturers from China have started production to generate new stocks, which has changed the pricing outlook for January 2023. Players in the domestic market are actively building up stocks in advance as factories will remain shut due to the upcoming Lunar New Year Holidays. As a result, manufacturers have raised their Losartan Potassium quotations in expectation of a strong recovery in demand from end-user Pharmaceutical and Healthcare industries.
Similarly, the data showed that the USA and Germany are also mimicking the same pricing trend as China, a major manufacturer and supplier of Losartan Potassium. The traders of both countries have experienced similar market sentiments due to limited stock and strong demand for the product from the end-user industries. However, purchasing activities seem to be increased as buyers have placed an order in advance by keeping in mind that China is preparing for the Lunar New year Break from January 22. Also, importers have faced high shipping rates from China as heavy volumes are going to the Chinese port before the holiday, resulting in costly Losartan Potassium from China. Still, buyers are searching for every possible stock in the market. Therefore, the market's enormous demand-supply imbalance forced up the price of Losartan Potassium in the USA and Germany.
According to the ChemAnalyst analysis, Global Losartan Potassium prices will also go up in the coming week. Right now, there is a lot of uncertainty across the globe, and any number of incidents may possibly impact production and shipping activities.