For the Quarter Ending September 2022
The North American market for Betamethasone commenced the Q3 of 2022 on a positive note, with prices settled at USD 1095000 per MT in July. However, these prices eventually started plunging in August and falling even further to USD 1045000 per MT in September. The repeated lockdowns in China, from which most API are imported, forced manufacturers of Betamethasone to cut their prices. Consequently, demand from the downstream pharmaceutical sector in the United States reduced during the H2 of the quarter. Also, some manufacturing facilities in China were shut down for maintenance, significantly lessening imports into the US. All these factors had a prominent effect on the downward price trend of Betamethasone in the US domestic market.
The price trend for Betamethasone in the Asia Pacific market showed a downward trajectory in the Q3 of 2022. Several reasons, such as minimal raw material costs, muted buyer spending, and shaky end-user sector demand, have impacted the price trend. During the first half, merchants only received orders for urgent use, and Betamethasone prices came to USD 1041000 per MT FOB Shanghai in July. The decline was caused by the subpar offtakes from the domestic and international markets. However, after the markets resumed production following the shutdown, some factories that make Betamethasone underwent maintenance, which reduced the price for domestic and international buyers, with values settling at USD 962000 per MT in September.
The European Betamethasone market began the 3rd quarter of 2022 on a promising note. However, prices got stable from mid-H1 and declined in the latter weeks of the quarter. Therefore, continuous fluctuation in price trends was due to numerous factors, such as the unstable supply of inventories in the domestic market and fluttering demand from the end-user pharmaceutical sector. In addition, turbulences in logistic activities, piled-up cargo at the port, and variations in seasonal conditions in the major exporting country, China, affected the Betamethasone market. As a ripple effect, the Betamethasone prices for CFR Hamburg declined from USD 1073000/MT to USD 997000/MT from July to September 2022.
For the Quarter Ending June 2022
Betamethasone API prices in the United States market traced an upward trajectory similar to other regions. As per the assessment, the Betamethasone API market remained buoyant during the second quarter of 2022 due to intense inflationary pressure on suppliers. The ongoing Russo-Ukrainian war also increased the price of natural gas throughout the quarter, which impacted the pricing dynamics of Betamethasone on the US market. Rising domestic freight costs were also a significant concern because they contributed to the domestic market's ongoing price increase trend. Furthermore, the patterns of demand for betamethasone API from the downstream pharmaceutical industry encouraged frequent offtakes from domestic markets, which resulted in low inventories.
Betamethasone API prices declined during the start of the second quarter in the Indian market, and ample inventories forced the suppliers of Betamethasone to decrease the cost of the Active Pharmaceutical Ingredient. Later, the cost of Betamethasone increased throughout the second quarter of 2022 in India due to the surging demand from the downstream pharmaceutical sector. This quarter, the prices of Betamethasone in India showcased an increase of 2.2% compared to the last quarter. Thus, by the end of June, Betamethasone API prices were assessed at INR 86500000/MT in India. Similarly, the sudden rise in pandemic cases in China, which caused the country's economic operations to halt and decreased offtakes from the downstream pharmaceutical industry, continued to disrupt the Chinese market.
During the second quarter of 2022, the market of Betamethasone API showcased a positive sentiment in the European region on the back of limited inventories. The product market was affected by stable demand from the downstream pharmaceutical industries. Since there aren't enough shipping containers available in the middle eastern area, dealers are forced to pay more, which reduces their profit margins. Rising inflationary pressure on global key players has compelled them to raise Betamethasone API prices. However, it was noted that the import of Betamethasone API had significantly decreased since the commencement of China's lockdown owing to surging cases of Covid.