For the Quarter Ending June 2023
North America
The cost of clopidogrel bisulfate in the North American region showed a declining pricing trend similar to that of the APAC region. Prices for clopidogrel bisulfate decreased steadily during the second quarter across North America in comparison to the first quarter. The decreasing trend persisted until the last week of June due to a fluctuating downstream market for the feedstock used to make clopidogrel bisulfate as well as a steady decline in local demand from the downstream pharmaceutical sector.Large warehouse inventories held by market participants and limited consumption of existing ones were contributing factors in the ongoing decline in domestic demand, which compelled them to lower domestic prices in order to reduce their inventories and protect their end products. However, taking into account the consumer price index (CPI) for June 2023 in North America, specifically the United States, it increased by 0.1% in June 2023 compared to May, with domestic suppliers of Clopidogrel Bisulfate having enough inventory to satiate local demand throughout the second quarter of 2023.
Asia Pacific
Bearish market sentiment was evident in the price of the active pharmaceutical ingredient Clopidogrel Bisulfate during the second quarter, as prices fell sharply until the final weeks of June 2023. One of the main causes of the decrease in Clopidogrel Bisulfate prices in April 2023 is the fact that consumer inflation has significantly decreased, which has weakened purchasing activity. Additionally, India's annual inflation rate dropped from 5.7% in March to 4.7% in April 2023, the lowest level since October 2021 and slightly less than forecasts of 4.8%. The cost of fuel also began to decline. This strengthened the regional market trajectory for Clopidogrel Bisulfate going downhill. While the consumer price index also fell in May, from 4.70% in April, to 4.25%, from 5.66% in March, to 6.44% in February, and to 6.52% in January. According to economists, this steady decline in inflation portends a more controlled and stable price environment for consumers as well as a gradual easing of energy costs. The Reserve Bank of India (RBI) considers this a positive development, as it indicates that inflation is falling below its upper tolerance limit of 6% for three consecutive months. Following a similar trend, the prices for Clopidogrel Bisulfate ended Q2 at a continuously weaker trend, with prices recorded at USD 45005.42/MT EXW-Ludhiana.
Europe
Throughout the entire second quarter of 2023, prices for clopidogrel bisulfate in the German market followed a market trend from the APAC region. At the beginning of Q2, prices across the region kept falling as a result of weaker consumer demand, which led to greater stockpiling of inventories among retailers and suppliers. Up until the last few weeks of June, there was a depressing market environment due to the overabundance of inventory at the local retailers and the falling upstream costs. Furthermore, market participants have primarily focused on destocking their previous inventories due to lower inquiries and worries that tepid temperatures will degrade goods and cause significant profit losses, as Germany is particularly suffering from the heatwave in June. As a result, the onset of the seasonal changes, however, also made the buyers hesitant to make significant orders. Apart from that, the currency fluctuation during the entire month of June further affected the market sentiments of Clopidogrel Bisulfate across the European market as the value of the euro has declined against the US dollar in recent months, which has made the pharmaceutical APIs more expensive for buyers in the eurozone. Contributing to the decline in prices.
