For The Quarter Ending September 2022
In the North American region, the prices of Naproxen showcased a decremented trend throughout the third Quarter of 2022. The prices went down significantly due to weaker demand witnessed in the domestic market of the United States. Furthermore, weak trading momentum and halted production activities positively supported the market sentiments of Naproxen in North America. The domestic market participants were propelled to reduce their prices to destock their inventories and maintain their profit margins owing to dwindled offtakes throughout Q3. With all this, the prices recorded for Naproxen API in North America were assessed at USD 65700/MT CFR Los Angeles at the end of September.
During the third Quarter of 2022, the prices for Naproxen API in the Asia Pacific market exhibited an ascending trajectory. At the onset of H1 OF Q3, the market opened with unfavorable sentiments but enhanced in August, with prices settling at USD 61320 /MT in China. The market supply side faced severe uncertainty in the first half of the Quarter, backed by the manufacturing unit's high-temperature maintenance, resulting in supply reduction so as the price reduction. However, later towards the mid-q3, an upward trend was witnessed, which continued till the end of the third Quarter, i.e., September. The overall prices assembled at USD 61580 /MT FOB Shanghai in China.
The prices of Naproxen in the European region mimic similar market sentiments as in North America during the Q3 of 2022; supply and demand basics witnessed were on the weaker side, resulting in the downstream accumulation with the domestic merchants. Additionally, fluctuations in trade frequency during the whole Quarter also affected the market value of Naproxen. Also, the slow offtake from downstream pharmaceuticals was one of the primary factors behind this Quarter's price trend of Naproxen in Germany. Thus, at the end of Q3, the prices of Naproxen were assessed at USD 67320 /MT CFR Hamburg.
For the Quarter Ending June 2022
In Q2 2022, the market of Naproxen Sodium remained stable with tepid market sentiments and moderately operating downstream pharmaceutical industry. Imports of Naproxen from India remain steadily according to the requirement of the region's manufacturing units. Compared with the previous quarter, the prices slipped with the gradual stockpiling of products in the regional market. The demand for new orders was limited, and a lower price trend was set to clear the existing stocks. A seasonal slowdown in demand remained the key factor for such a price trajectory. Major Naproxen producers in India had revised the price and traded the product at a lower level.
The Asian market for Naproxen Sodium stayed stable and unpretentiously moved by supply overhang attributable to substantial capacity increments. Exports from India to the United Kingdom (UK), USA, and Singapore remain lukewarm with the sturdy trading environment for the overseas suppliers. Suppliers and distributors held back the purchases under the expectation of further cost breakdown and rushed to meet their stock prerequisites according to the consumption pattern. Manufacturers across Northern Asia ran their production units at essentially full capacities, yet the stockpile of Naproxen stayed reasonable with extensive offtakes from some end-use sectors. Market sentiments for Naproxen remain muted under oscillation in raw material and slow offtakes from the downstream pharmaceutical industry.
Naproxen Sodium market dynamics in the European region displayed a steady cost direction with stagnant market demand from the downstream pharmaceutical industry. Far beyond, deterred raw material costs, consistent demand, high production rates, and regular manufacturing costs kept the Naproxen market costs stable. Imports from India to the United Kingdom and other European regions remain tepid and operate according to the end user industry's requirement. Both regional and abroad overseas sectors experienced flexible market sentiments. The availability was in excess, which provoked keeping up with the harmony between the market's demand and supply. Towards the end of Q2 2022, the Naproxen costs were recorded to follow a steady cost direction and on the lower end compared with the previous quarter.