For the Quarter Ending December 2022
In the fourth quarter of 2022, the Erythromycin API market in North America experienced fluctuations. Prices began to climb in Q4 2022 and continued to do so throughout the second month of the fourth quarter due to high manufacturing costs, numerous logistical issues, and rising inflation. The US inflation Soar to 8.2% in the month of October 2022. Additionally contributing to the price fluctuation were rising transportation costs and port congestion at the major ports. However, Prices begin to decline later in the month of December as a result of weaker inflation(the US inflation rate was 7%, down from 8.2% in October) and decreased end-user sector demand as the holiday season approaches. In December, the Erythromycin API settlement price fell to USD 156910/MT CFR Los Angeles.
The Asia Pacific Erythromycin API market saw a turbulent fourth quarter in 2022. It was witnessed that the prices rose considerably till the second month of the quarter due to increased end-user sector demand, several logistical challenges, and rising inflation. The Producer Price Index (PPI) grew by 0.9% while the Consumer Price Index in China increased by 2.8%, both of which had an impact on the market. The "Zero-Covid" policy in China has so far had a big impact on investor confidence and the nation's economic operations. The market remained competitive because of rising production costs brought on by rising energy prices as well as increased domestic output to meet demands from both domestic and foreign markets. Later in December, as domestic merchants had sufficient stock on hand, Erythromycin API prices did begin to decline. The market's ongoing decline was also influenced by the policies being relaxed and the weak downstream demand. In December, the settlement price for Erythromycin API fell to USD 142100/MT FOB Shanghai.
In the fourth quarter of 2022, prices for Erythromycin API varied in the European region. The downstream market for the pharmaceutical sector was seen to have a steady demand for Erythromycin API. Price hikes were brought on by ongoing port congestion and supply disruption in the European region in the first two months of Q4 022. Also, the European annual inflation rate was 10.6% in October 2022, up from 9.9% in September. Retailers in Europe make the decision to refill their inventory due to the approaching Christmas season considerably. However, prices decreased dramatically in December as a result of a fall in inflation (The euro area annual inflation rate was 10.1%, down from 10.6% in October), relief from port congestion, a slight increase in existing inventories among the merchants, and a considerable decrease in the freight charges keeping the market at ease. The cost of Erythromycin API was USD 160800/MT CFR Hamburg toward the end of Q4 2022.
For the Quarter Ending September 2022
The prices of Erythromycin experienced a rising trend due to enthusiastic sentiments in the US market. Erythromycin price commenced the month on a positive note with steady demand and stable demand and supply side of the market. With the commencement of the second half of Q3, the prices increased due to increased production costs. Furthermore, increased freight charges also affected the Erythromycin market in the US. Rising inflation further added to the tight market sentiments in the other half of the third quarter. Towards Q3 2022, the prices witnessed record heights due to surging demand, suspended shipments, and rising inflation, with values accessed at USD 155850/MT with an average quarterly inclination of 0.51%.
Erythromycin API market sentiments showcased an ascending trend in the third quarter of 2022 in the Asia Pacific region owing to the significant resurfacing pandemic situation and extreme weather conditions affecting the production units and operating costs. Strict policies and lockdown imposition in some of the major ports of the exporting countries as they were still pursuing zero covid policy. The prices increased in the face of increased demand from the downstream pharmaceutical industry in regional and overseas markets. Furthermore, increased freight charges and soaring operating costs forced the Erythromycin prices to maintain an upward trajectory in Q3 2022. At the termination of Q3 2022, the value accessed at USD 134450/MT FOB Shanghai with an average quarterly inclination of 1.03%.
At the termination of this quarter, Q3 2022, the Erythromycin prices showcased a downward trend in the European market. At the start of Q3 2022, the Erythromycin market started with lower sentiments due to decreased demand from the end-user pharmaceutical industries. Also, stockpiling amongst the domestic merchant forced them to lower the Erythromycin quotation for the consumers. Later with the commencement of the second half of Q3 2022, the values appreciated in the European region, with demand picking up its pace from the consumer end. Furthermore, increased production costs on the back of surging energy prices also affected the Erythromycin market. Towards the conclusion of Q3, the values accessed at USD 158570/MT, with an average quarterly declination of 0.62%
For the Quarter Ending June 2022
The prices of Erythromycin thiocyanate showcased a rising trend due to favorable market sentiments in the North American region. Erythromycin thiocyanate prices rose at the onset of Q2 due to surging demand due to the pandemic's resurgence. With ongoing geopolitical tension, the trade market was affected due to restricted transportation, prompting strong market sentiments. The prices went stable during the 2nd half of Q2 2022 as demand for Erythromycin thiocyanate from the pharmaceutical sector went stable owing to ease in the pandemic situation. Towards the termination of Q2 2022, the prices witnessed record heights owing to surging demand, suspended shipments, and rote disruption.
In the Second quarter of 2022, the Erythromycin thiocyanate market showed ascending behavior by the end of Q2 2022 in the Asia Pacific region, owing to a significant increase in COVID-19 cases and strict policies and lockdown imposition in some of the major ports. At the onset of the first half of Q2 2022, the prices increased drastically following the demand from the downstream pharmaceutical industry in regional and overseas markets. Also, increased freight charges and surging manufacturing costs affected the erythromycin thiocyanate prices. Furthermore, dragon strikes in Chinese provinces affected the import in the Indian domestic market and prompted manufacturers to raise prices. Towards the termination of Q2 2022, the value accessed at INR 7200540/MT with a quarterly inclination of 14%.
By the termination of this quarter, Q2 2022, the Erythromycin thiocyanate prices witnessed a decreasing trend in the European market. In the first half of Q2 2022, the resurgence of the Covid cases affected the market due to steady demand from the downstream pharmaceutical industry. Also, suspended shipments and rote disruption owing to geopolitical conflicts affected the prices of erythromycin thiocyanate because of the hampered imports in the domestic market. Subsequent ease in the pandemic situation stabilized the price trend of Erythromycin thiocyanate. With the stable supply and demand side of the market, erythromycin witnessed a decreasing price trajectory. Towards the conclusion of Q2 2022, the price trend for erythromycin thiocyanate was recorded to be USD 160260/MT, with a quarterly declination of 7.23%