For the Quarter Ending March 2025
North America
In Q1 2025, Aspirin prices in the USA experienced significant fluctuations due to various factors. In January, prices rose as U.S. importers rushed to stockpile ahead of the proposed 10% tariff on Chinese goods, set to take effect in February. The Chinese Lunar New Year also contributed to increased demand, while rising energy costs added to inflationary pressures, escalating operational expenses. Port congestion in Los Angeles worsened logistical delays, further straining supply chains and driving up prices.
February saw additional price hikes, with the 10% tariff coming into effect and concerns about a potential 25% tariff on pharmaceuticals. Buyers accelerated procurement to avoid higher future costs, exacerbating supply chain issues. However, by March, prices declined as demand weakened and oversupply became a concern. The weakening of the U.S. dollar increased import costs, but distributors held high inventory levels, reducing the need for further procurement. Growing tariff concerns led suppliers to adopt more aggressive pricing strategies to move excess stock, resulting in lower prices.
Overall, Q1 2025 was marked by price volatility driven by tariffs, logistical challenges, and shifting market dynamics.
Asia Pacific
In Q1 2025, Aspirin prices in China saw a steady upward trend, driven by a combination of demand and supply-side factors. In January, prices rose due to increased demand from the pharmaceutical and healthcare sectors, coupled with reduced manufacturing output ahead of the Lunar New Year. The anticipation of new U.S. tariffs on Chinese exports further strained supply, as manufacturers rushed to fulfill export orders. This added upward pressure on prices. In February, prices continued to rise due to supply disruptions caused by the holiday break, inventory shortages, and delayed production. Demand from the healthcare sector remained robust, with seasonal weather boosting the need for pain relief and cold remedies. Additionally, the expectation of further U.S. tariffs in March encouraged foreign buyers to increase their orders. In March, prices rose slightly, as demand remained strong while supply gradually improved. However, production could not fully meet the growing demand, leading to supply tightness. The rising cost of salicylic acid, a key raw material, also contributed to the overall price increase during the quarter.
Europe
In Q1 2025, Aspirin prices in Germany showed mixed trends, influenced by supply chain factors and fluctuating demand. In January, prices increased moderately due to improved business sentiment and higher demand from the healthcare sector. The positive economic outlook, combined with inventory restocking efforts, pushed prices higher. By February, supply chain challenges, including port congestion and labor disputes, led to delays in pharmaceutical imports, raising costs. Despite these disruptions, stable demand supported prices, aided by easing inflation and political uncertainties. March saw a decline in prices as favorable import conditions emerged, including a stronger Euro and lower ocean freight rates. Despite some congestion at European ports, shipping capacity remained adequate, ensuring a steady flow of imports at competitive prices. On the demand side, however, activity remained sluggish following the Chinese New Year, with buyers clearing inventories toward the quarter's end. This imbalance between supply and demand led to downward price adjustments as suppliers sought to stay competitive. Overall, the quarter ended with a slight price decline after earlier increases.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. Aspirin market experienced fluctuations driven by a mix of economic factors and market dynamics. October saw a decline in prices, primarily due to economic uncertainty, inflation concerns, and weakened consumer demand. The hesitation from businesses and consumers, coupled with external disruptions like hurricanes and strikes, led to lower prices to stimulate sales.
In November, prices continued to decrease as demand softened further, with reduced inflationary pressures and the appreciation of the U.S. dollar making imports cheaper. The resolution of supply chain disruptions, combined with healthy inventories, helped maintain stable prices, while a drop in Salicylic acid prices also supported the downward trend.
However, December marked a rebound in Aspirin prices, driven by strong demand, proactive purchasing, and the easing of interest rates, which boosted consumer confidence. The fear of supply disruptions, such as potential strikes and tariffs on Chinese imports, led to increased stockpiling, further driving prices up as businesses prepared for potential cost surges. Overall, Q4 saw a dynamic shift in prices, beginning with a decline, followed by stabilization, and ending with a notable increase. As of the end of Q4, Aspirin was priced at USD 2820 per metric ton (USP, FDA) CFR Los Angeles.
Asia Pacific
In Q4 2024, Aspirin prices in China saw notable volatility, shaped by various market dynamics. October saw a price decline, driven by weak domestic demand, excess supply, and heightened competition among suppliers. External geopolitical uncertainties, particularly related to the U.S. elections and rising protectionist policies, further dampened international demand, intensifying the downward pressure. In November, the trend continued due to sluggish domestic demand, high distributor inventories, and weak global sales, compounded by tariff concerns. Falling raw material and crude oil prices contributed to reduced production costs, allowing suppliers to adjust prices downward. However, December marked a shift with prices rising sharply, fueled by strong demand in the pharmaceutical and healthcare sectors. Proactive stockpiling ahead of the Chinese Lunar New Year and a weaker yuan, which made exports more competitive, further stimulated the market. In summary, the Q4 market saw a significant drop followed by a rebound, driven by shifting domestic demand, export activity, and production cost adjustments. By the end of Q4, Aspirin was priced at USD 2500 per metric ton in China.
Europe
In Q4 2024, the Aspirin market in Germany experienced fluctuating price trends influenced by various economic and logistical factors. In October, prices declined due to weak consumer demand, driven by inflation concerns, and reduced shipping costs as Asia-Europe routes saw a 60% drop in container prices. Businesses adjusted their logistics, maintaining adequate supply levels, which helped stabilize prices. Furthermore, the decrease in salicylic acid prices supported the downward trend.
In November, the price decline continued as weak demand and fading inflation concerns persisted. Germany’s economic downturn, alongside a 1.9% reduction in energy prices, further contributed to subdued price pressures. Well-maintained inventories allowed suppliers to offer more competitive rates, reinforcing the downward trend.
December saw a price rise as demand from key sectors, coupled with supply chain challenges ahead of the Chinese Lunar New Year, fueled upward pressure. The weakening Euro and congestion at European ports added to the cost burden, leading to higher prices for Aspirin. The quarter was marked by a mix of price reductions followed by increases driven by demand and logistical constraints. By the end of Q4, Aspirin was priced at USD 2750 per metric ton (USP, FDA) CFR Hamburg.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American region experienced a significant uptrend in Aspirin pricing, with the USA exhibiting the most pronounced changes. A multitude of factors influenced this market dynamic, including robust consumer demand driven by economic optimism, supply chain disruptions, such as port congestion and shipping delays, and proactive inventory management strategies employed by market participants.
These dynamics culminated in a remarkable 13% price increase from the previous quarter, with a notable 12% price variance observed between the first and second halves of the quarter. Despite ongoing challenges, such as disruptions at overseas ports and the looming threat of impending tariffs, the pricing environment for Aspirin remained decidedly positive. Market sentiment was largely skewed towards an upward trajectory, reflecting confidence among buyers and sellers alike.
By the end of the quarter, the price of Aspirin reached USD 3,380 per metric ton in the USA, underscoring the culmination of a quarter marked by bullish pricing trends. Overall, Q3 2024 demonstrated a resilient market characterized by rising prices and heightened activity, supported by a combination of demand-side optimism and persistent logistical challenges.
Asia Pacific
Throughout Q3 2024, the Aspirin market in the APAC region witnessed a pronounced trend of increasing prices. Several significant factors contributed to this shift. Robust demand both domestically and internationally played a key role, with manufacturers struggling to meet the surge in orders. Additionally, logistical disruptions, geopolitical uncertainties, and increasing input costs further propelled prices upwards. The market in China, experiencing the most substantial price changes, reflected these overall trends. As the largest player in the region, China's market dynamics heavily influenced APAC pricing. Seasonal variations and a strong correlation in price changes were observed, with a noticeable 5% increase from the previous quarter. The comparison between the first and second half of the quarter revealed a substantial 14% price difference, highlighting the dynamic nature of the market. Noteworthy disruptions such as severe weather events and production challenges were reported. The quarter concluded with Aspirin priced at USD 2835/MT FOB Shanghai, indicating a consistently positive pricing environment driven by escalating demand and market conditions.
Europe
Throughout Q3 2024, the pricing environment for Aspirin in Europe has been characterized by a significant uptrend, driven by multiple key factors. The market has experienced notable price increases, particularly in Germany, where prices saw the highest fluctuations. Demand for Aspirin remained robust, supported by improved consumer sentiment and proactive inventory stockpiling by businesses amidst supply chain disruptions caused by global shipping challenges, including the Red Sea crisis. Additionally, the easing of inflation in the region and the European Central Bank's interest rate adjustments have indirectly contributed to the upward pressure on prices. The correlation in price changes between the first and second half of the quarter was evident, with a recorded 12% increase. This trend reflects the ongoing challenges and uncertainties in the global supply chain, leading to constrained availability and heightened competition among buyers. As a result, the quarter-ending price for Aspirin (Acetylsalicylic Acid) (USP, FDA) CFR Hamburg in Germany stood at USD 3135/MT, marking a substantial increase from the previous quarter and the same period last year.
For the Quarter Ending June 2024
North America
During Q2 2024, the North American Aspirin market experienced a notable upward trajectory in pricing, driven by a confluence of significant factors that exerted upward pressure on market prices.
Firstly, an unanticipated surge in consumer confidence led to increased consumption of pharmaceutical products, further intensifying demand for Aspirin. This demand was bolstered by the early onset of the peak season, compelling suppliers to stockpile inventory in anticipation of potential market disruptions. Additionally, logistical challenges, particularly in the Red Sea region, adversely impacted shipping routes, resulting in delays and elevated transportation costs. These logistical constraints were compounded by increased sailing speeds to mitigate delays, which in turn raised fuel costs and charter rates.
Moreover, the specter of potential disruptions from geopolitical tensions prompted companies to brace themselves by augmenting their inventories, further straining supply chains. Focusing on the USA, which witnessed the most pronounced price changes, the overall trend showcased a robust increase in Aspirin prices, reflecting both seasonality and intensified demand.
Overall, the price escalation recorded a 1% increase from the previous quarter, underscoring the progressive pricing trend. The quarter culminated with a settlement price of USD 2840/MT for Aspirin (Acetylsalicylic Acid), signaling a positive pricing environment, marking Q2 2024 as a period characterized by significant price inflation and a bullish market sentiment.
APAC
In Q2 2024, the APAC region saw remarkable stability in Aspirin pricing, a testament to a well-balanced market environment. This stability was underpinned by a steady demand from both domestic and international markets, which kept prices relatively unchanged. Key factors contributing to this stability included consistent manufacturing output, moderate fluctuations in raw material costs, and higher transportation expenses. China, a significant player in this market, exhibited the most notable price changes within the region. The rise in demand was driven by growing market confidence, led to heightened consumer demand as consumers sought to purchase the medication before prices potentially rose further. Additionally, the devaluation of the Chinese yuan against the USD made exports more appealing to international buyers, thus increasing demand in overseas markets. Furthermore, the easing of tensions in the Middle East during the latter part of the month likely played a role in the surge in shipments and demand, as it created a more stable trading environment. While on the supply side, traders continued to grapple with insufficient inventories with respect to the inquiries arriving from the end-users. As a result, the Manufacturers responded to this heightened demand by ramping up their production levels, but despite their efforts, the supply could not match the pace of demand. Additionally, the increase in production costs, due to factors such as raw material costs and increased operational expenses, have hindered manufacturers' ability to scale up production further, contributing to the low supply. Compared to the previous quarter, the 1% price change highlights the sustained stability in the market. This period of stability in Aspirin pricing in the APAC region suggests a robust market environment, resilient to external shocks and capable of maintaining equilibrium through consistent production and demand patterns. The latest quarter-ending price for Aspirin (Acetylsalicylic Acid) in China was USD 2490/MT, affirming the stable sentiment prevalent throughout Q2 2024.
Europe
In Q2 2024, Aspirin prices in Europe experienced a notable upward trajectory, driven by a confluence of factors. The quarter was marked by heightened demand across the region, propelled by robust economic growth and unexpectedly strong consumer activity. Businesses, having previously scaled back inventories due to economic uncertainties, found themselves urgently restocking, further intensifying demand pressures. Compounding the scenario were significant logistical challenges, including severe port congestion in key Asian hubs and North European terminals, as well as geopolitical disruptions like the Red Sea crisis. The increase in shipping costs and delays exacerbated the supply constraints. Additionally, the cost of Salicylic acid, a critical raw material, surged, directly influencing the price of Aspirin. Focusing on Germany, the market saw the most pronounced price changes. The German economy's resurgence bolstered business confidence, leading to a sharp rise in demand for Aspirin. The accelerated depletion of inventories, driven by higher-than-expected consumer demand, added to the pricing pressure. Seasonality also played a role, with increased medical needs during transitional weather periods. The correlation between supply chain disruptions and price hikes was evident, as logistical bottlenecks led to increased operational costs. Compared to the same quarter last year, prices surged by a significant margin, highlighting the robust market dynamics. From the previous quarter, prices recorded a 3% increase overall, seeing a marked rise due to sustained demand and supply constraints. The latest quarter-ending price stood at USD 2725/MT of Aspirin (Acetylsalicylic Acid), underscoring a bullish pricing environment that remained positive throughout the quarter.
