For the Quarter Ending June 2023
North America
Across the North American region, the prices of Naproxen showed a stable price trajectory throughout the second quarter of 2023. Throughout the second quarter, prices of Naproxen continued to mimic the market trend as that of the previous quarter and surged on an average of 0.21 percent across the US market. At the beginning of the second quarter, the prices dropped steadily owing to a decrease in inquiries from the domestic pharmaceutical and healthcare sector; however, the merchants were left with enough inventories that balance the overall demand for this month. Following May, the prices rebounded as demand from the healthcare sector improved to some extent. This price trend continued until the end of June 2023 in the US, with the price settlement on USD 42050/MT CFR Los Angeles. Moreover, compared to May, the Chinese Yuan depreciated against USD for the month of June. This significantly has positively supported the market trend for Naproxen across the North American region as imports from China became cheaper to foreign buyers.
Asia Pacific
The price of Naproxen, an Active Pharmaceutical Ingredient, during the second quarter, demonstrated an ascending market sentiment as the prices dropped significantly throughout April while depicting a positive demand outlook from the middle of q2 until the end of June. One of the primary reasons behind the drop in prices of Naproxen for April Includes Consumer inflation which has fallen considerably, resulting in weakened purchasing activity. Moreover, China’s retail and producer inflation has remained weak as the consumer and industrial sectors struggle to recover from their pandemic hit, putting downward pressure on the prices of Pharmaceutical API across the nation. Moreover, the prices improved moderately in the middle of the second quarter. A slight increase in domestic inquiries balanced with sufficient inventories among the merchants kept the market in a positive direction for this month. In June as well, the prices continued to surge across the APAC region. Also, the Official Purchasing Managers Index (PMI) for the manufacturing sector was 49.0, up slightly from the previous month. However, the increase in orders was more modest. On the other hand, as purchasing activities continued to be active, export sales were almost rising consistently at the end of Q2-2023. With this, the prices of Naproxen were assembled at USD 41500/MT EXW Shanghai.
Europe
The prices of Naproxen across the German market mimicked a similar market trajectory as that of the APAC region during the second quarter of 2023. In April, Weaker downstream demand, followed by a build-up of inventories among market participants, supported this ongoing decline in prices. Furthermore, the price of ocean freight has fallen, with rates between China and Europe recently returning to pre-pandemic levels and congestion having significantly lessened, both impacting the status of the business and supporting April’s market trend. Moving towards the middle of the second quarter the prices started to increase moderately at the same rate by which it declined in April. The ample availability of Naproxen stocks with the suppliers balanced the resurged demand. Moreover, the German economy was showing signs of slowing down, but there were also some positive signs as the second quarter terminated. The German Consumer Price Index (CPI) rose by 0.1% in June 2023 from May, supporting the higher consumer demand from the downstream sector. With this, the prices for Naproxen across the German market were settled at USD 41650/MT CFR Hamburg.
For the Quarter Ending March 2023
North America
The prices of Naproxen started in the first quarter of 2023 on a bullish note and ended at a sturdy rate. This price trend was attributed to increased domestic orders from end-user pharmaceutical sectors. Also, during January 2023, traders encountered the costliest import from China as Yuan gained against the US dollar, appreciating nearly 3% in January alone. Moreover, until the mid of the first quarter, consumer sentiments remained on the upper side, and ease in trade disruption altogether supported the positive market trend for Naproxen API in North America. Towards the termination of this quarter, the prices of Naproxen increased consistently and were recorded at USD 41800/MT in the United States.
APAC
Throughout the APAC region, particularly in China, the prices of Naproxen remain on the upper side trend during the first quarter of 2023. A significant increase in domestic and international inquiries and lessened stockpiles among the market participants. Moreover, the government of China additionally stated that the February rise in PMI showed continued improvement in the climate for production and industry, noting that the total volume of activity "inclined significantly" as the customer interest raised during this month along with the newer orders from the international market. With this, the prices of Naproxen went in the upward direction until the end of the first quarter with a settlement at USD 40988/MT in China.
Europe
In the first quarter of 2023, the prices of Naproxen API commenced on the positive side during the month of January and continued to maintain a similar trend until mid of Q1-2023 but ended on a bearish note. Until February, the prices went in the upward direction due to certain factors, including a rise in local demand, limited inventories, ease of trade activity, and a decline in freight charges. Additionally, German consumer prices rose more than expected, which progressively boosted the overall market trend of Naproxen in the European region. However, towards the termination of the first quarter, the prices of Naproxen went down drastically and were settled at USD 41250/MT in Germany.
The prices of Naproxen in the North American region plummeted at the end of the fourth quarter of 2022. As with the start of the first half of q4, the prices remained on the upper side owing to increased end-user demand. Inflation thus decreased substantially compared to September, even though it remained well above the upper boundary, which in turn affected the market sentiments of Naproxen. Following mid-q4 ease in freight charges and trading activities somewhat supported the positive price trend for Naproxen in the United States. Towards the end of the year 2022, i.e., in December, the prices declined significantly with stockpiling of inventories among the market participants. With this, the prices for Naproxen were recorded at USD 40855/MT CFR Los Angeles.
In APAC region, particularly China, witnessed mixed pricing trends for Naproxen throughout the fourth quarter of 2022. The prices of Naproxen during October declined considerably as the inquiries from the downstream sector decreased. Chinese manufacturing activity, one of the important factors for the country's economy, declined steadily in the fourth quarter as rising COVID-19 cases caused more supply disruptions and trading momentum across the domestic and international markets. However, during November, the prices surged slightly as the demand inclined somewhat balanced with the supplies. Following December, the prices went down again considerably and were recorded at USD 39450/MT FOB Shanghai.
Prices for Naproxen fluctuated throughout Europe in the fourth quarter of 2022. At the start of October, inquiries decreased consistently after witnessing a weak trend in the previous month. During November, prices inclined gradually on the positive side. Supply chain disruption decreased rapidly along with the shipping cost, which supported the positive price trend of Naproxen in Germany. However, In December, inflation in Europe decreased for the second consecutive month as rising energy prices started to level out at the end of the year 2022. demand inclined from the prior month's Thanksgiving holidays, however, kept the prices on the upper side. With this, the price of Naproxen reached USD 42970/MT CFR Hamburg in Germany
