For the Quarter Ending December 2022
Ibuprofen API witnessed shifting market patterns in the North American region during the fourth quarter of 2022. Beginning with Q4 2022, prices were predicted to rise till the termination of the first month due to a high cost of manufacturing, numerous logistical problems, and rising inflation. Additionally, the market position was maintained well by rising transportation costs and port congestion at the major ports. Later with the commencement of the second month of Q4 2022, the prices drop down considerably till the end of Q4 2022 on the back, lowering inquiries, bearish demand from the downstream sector, softening inflation, and ease in the transportation and decreased freight charges. During the month of December, the settlement price of Ibuprofen API came down to USD 13810/MT CFR in New York.
Ibuprofen prices significantly dropped in the APAC area in the fourth quarter of 2022. Due to ongoing geopolitical unrest and production halts in several industrial facilities in the Asia-Pacific region, the price trend started to rise progressively in Q4 2022. Later, as Q4 2022's second month gets underway, prices start to fall abruptly as end-user sector demand declines. As production costs dropped on the domestic market, prices fell dramatically. Prices were also lowered to pre-pandemic levels. The Ibuprofen market remained weak due to adequate supplies and stockpiling among the merchants. During the month of December, the settlement price of Ibuprofen API came down to USD 13500/MT EXW Hebei.
Ibuprofen's market dynamics in Europe changed negatively due to a fall in demand, a cessation of inquiries from the pharmaceutical end-user sector, and surplus inventories among local retailers. Due to geopolitical unrest and port congestion, prices started to increase gradually in the first half of Q4 2022. Ibuprofen prices later started to drop at the beginning of the second month of Q4 2022 despite the uncertainties because of a dramatic drop in inquiries, abundant supply, and a consistent market attitude. Additionally, the weakening consumer attitude in December was further boosted by the approaching holidays and festival season. During the month of December, the settlement price of Ibuprofen API came down to USD 14520/MT CFR Hamburg.
For the Quarter Ending September 2022
With the commencement of the third quarter of 2022, Ibuprofen showcased decreasing market sentiments in the North American region owing to improved and firm supply dynamics and lowering downstream demand. Downstream inquiries from the pharmaceutical and food industry have eased out since the conclusion of Q3 2022. At the end of Q3 2022, the prices continued to drop with feeble market sentiments. Furthermore, The Propionic Acid (prime material) prices in Q3 winded down owing to ease in the upstream energy prices, which affected the market of Ibuprofen. Towards the termination of Q3 2022, the prices were recorded to be USD 32330/tonne CFR Houston with a quarterly declination of 2.13%.
The Ibuprofen price showcased depreciating market sentiments during the APAC region's third quarter Q3 of 2022. At the onset of Q3 2022, the price trajectory witnessed a gradual increment, owing to stable raw material Propionic Acid prices, with the ongoing geopolitical tension and production halt in various manufacturing units in the Asian region. Regular Manufacturing costs with low-cost support prompted the price to be lower. From the commencement of the second month of Q3 2022, the prices showcased fluctuation towards the downside, with a significant drop in the values of Ibuprofen following the decrease in raw material prices and preliminary inquiries. Towards the termination of Q3 2022, the prices were recorded to be 29550/ton FOB Shanghai with a quarterly declination of 2.47%.
In the European region, the Ibuprofen market dynamics witnessed depreciation on the back of lower demand, inquiries setback from the downstream pharmaceutical industry, and enough supplies among the domestic merchants. At the onset of the first half of Q3 2022, prices increased marginally due to geopolitical conflicts followed by congestion of trade routes. Regardless of the tense trading atmosphere in the domestic market, Ibuprofen prices continued to showcase decreasing trajectory owing to lowering inquiries, sufficient inventories, and stable market sentiments. Towards the termination of Q3 2022, the prices were recorded to be USD 34250/MT with a quarterly declination of 1.62%.
Ibuprofen API market price trajectory witnessed fluctuation in North America during the second quarter of Q2 of 2022 due to shaky demand from the pharmaceutical and biopharmaceutical sector. The Propionic Acid (prime material) prices in Q2 wind down owing to ease in the upstream energy prices, which affected the market of Ibuprofen. Towards the termination of the first half, the prices increased gradually. With the commencement of the second half of Q2 2022, the price escalated due to high freight costs amid surging crude prices. Also, supply chain disruption and stagnant production increased prices in the second half of Q2 2022. Towards the termination of Q2 2022, the prices were recorded to be USD 34550/ton CFR Houston with the quarterly inclination of 4.54%.
During the first quarter of Q2 2022, the Ibuprofen API market showed appreciated market sentiments in the Asia Pacific region. At the onset of first half of Q2 2022, Ibuprofen prices increased sharply owing to increased demand from downstream pharmaceutical industries. Also, insufficient supply and bearish inventories kept the ibuprofen market tight. Manufacturing costs with high-cost support prompted the price to be on the higher end. At the beginning of the second half of Q2 2022, the prices were recorded to incline further as the government announced a 10% increment in all pharma supplies. Towards the termination of Q2 2022, the prices were recorded to be USD 31880/ton FOB Shanghai with the quarterly inclination of 19%.
In Q2 of 2022, the Europe Ibuprofen API market showcased tight market sentiments. The supply-demand chain of Ibuprofen API was mainly influenced by the pandemic's resurgence of the third wave. At the onset of the first half of Q2 2022, the prices of Ibuprofen were recorded on the lower side owing to demand setback and enough supply. But slowly and gradually, the market started improving with increasing raw material benzene prices. Cost pressure from crude oil and gas prices increased due to the Russia-Ukraine conflict, indirectly affecting raw materials prices, and propelling the Ibuprofen market trend. At the onset of the Second half of Q2 2022, Ibuprofen showcased a price upsurge in regional and domestic markets. Towards the termination of Q2 2022, the prices were recorded to be USD 38720/MT with the quarterly inclination of 3.57%.