For the Quarter Ending December 2022
Over the first half of the fourth quarter of 2022, Norfloxacin's price gradually increased in North America. The pharmaceutical industry's end-user demand kept Norfloxacin costs on the high end.
Additionally, there was a steep decline in supply chain disruption in the six months leading up to November across a number of measures, including shipping costs, which further bolstered the Norfloxacin market's upward trend. Prices for Norfloxacin stayed on the North side up to November, when they were recorded at USD 37250 /MT CFR New York. However, at the beginning of December, they started to fall precipitously due to a major decrease in their offtakes.
In the fourth quarter of 2022, norfloxacin prices in the Asia Pacific area, particularly in China, sharply declined. However, prices remained good throughout the initial half of q4 due to strong downstream demand balanced with supplies among market participants. On the other hand, the ease with which the supply chain was disrupted in November compared to October, including the lower shipping costs, encouraged the traders and suppliers to increase orders and balance the demand side. With the year 2022 coming to a conclusion, China's production activities started to notably decline after November due to an increase in COVID-19 instances, which caused a decline in trade momentum and a reduction in freight costs, both of which helped Norfloxacin price trend. Overall, the Norfloxacin costs noted in the middle of the fourth were assembled at USD 34210/MT FOB Shanghai in China.
The Norfloxacin market in Europe followed a similar trajectory to that in Asia Pacific in the fourth quarter of 2022. Due to a rise in demand from the end-user pharmaceutical business, the market trend started off well up until November and reached an assembly price of USD 40355/MT CFR Hamburg in Germany. After December, Norfloxacin pricing inquiries from the downstream industry started to decline dramatically, which reinforced the drug's weaker price trend because market participants had plenty of supply and little to no demand. Furthermore, fresher orders decreased in December as a result of suppliers' high stock levels brought on by the market closure.
For the Quarter Ending September 2022
During the third quarter of 2022, the prices of Norfloxacin experienced an increasing price trend in the US market. Norfloxacin price commenced the month on a weaker note, with lessening demand with sufficient market supplies. Furthermore, increased freight charges also affected the prices of Norfloxacin in the US. Rising inflation halted trading momentum and disrupted manufacturing activities adding to the tight market sentiments toward the termination of the third quarter. Towards Q3 2022, the prices witnessed record heights due to healthy demand, suspended shipments, and rising inflation, with values demonstrated at USD 35780 /MT CFR Hamburg.
Norfloxacin market sentiments also showcased an ascending trend during the third quarter of 2022 in the Asia Pacific region. The prices declined in the first half of Q3 owing to weaker demand and sufficient inventories with the market participants. Furthermore, Strict covid-policies and lockdown imposition in some of the major ports of the exporting countries halted trading activities which supported the market sentiments of Norfloxacin at the end of Q3. The prices increased in the face of increased demand from the downstream pharmaceutical industry in regional and international markets. At the termination of Q3 2022, the value for Norfloxacin API was demonstrated at USD 32680 /MT FOB Shanghai in China.
The European region witnessed similar market sentiments in the prices for Norfloxacin as the APAC region, owing to heightened downstream demand in the market. At the onset of the first half of Q3, the prices showcased a decremented trend owing to weaker demand, keeping the inventories on the higher side. Furthermore, rising energy costs due to the Russia-Ukraine conflict and the rerouting activities supported the market sentiments of Norfloxacin API during the end of Q3. Additionally, delayed exports from China due to Covid restrictions resulted in lower inventories in the regional market, keeping the prices on the higher side. Towards the termination of Q3, the prices for Norfloxacin settled at USD 38680 /MT CFR Hamburg.
For the Quarter Ending June 2022
During the second quarter of 2022, Norfloxacin prices surged in the North American region because of a supply shortage of the API with the manufacturers. The demand for Norfloxacin remained active in first half of the quarter 2 governing the market sentiments of the product in the regional market. Vessels remained piled up at major ports of supplying countries that are China, consequently increasing the gap between supply and demand in the regional market. North American region suffers from sexually transmitted diseases (STDs) like Syphilis and Gonorrhoea, leading to a price hike in the regional market. prices declined steadily in the mid-half of q2 owing to weaken demand side which then surged significantly in the month of June. Furthermore, a livid lifestyle, increased fast food consumption, and less concern about personal hygiene resulted in infections like Urinary Tract Infections (UTIs). Energy costs also remained buoyant in the North American region, raising Norfloxacin's production cost in the regional market with the settlement of USD 38000/MT CFR Los Angeles.
The Norfloxacin market showcased mixed sentiments throughout the second quarter of 2022 owing to the frenzy feed supply of API with the regional manufacturers. China, the major export of Norfloxacin, went under strict lockdown to follow the zero-Covid policy imposed by the Chinese government. The major manufacturers had to halt the production rate of Norfloxacin, leading to less feed available in the country. In the Indian market, the sentiment soared towards the beginning of the quarter on the back of the escalating supply-demand gap. Indian manufacturers faced supply shortages from China, leading to the high production cost of Norfloxacin in the domestic market. Towards the end of the quarter, the prices of Norfloxacin dipped as the demand from pharmaceutical drug manufacturers declined in the market. Production cost remained brisk as the API remained on the upper edge and energy cost in the regional market. Furthermore, with the ending of q2 the prices witnessed were settled at USD 33000/MT FOB Shanghai in China.
In the second quarter of 2022, the prices of Norfloxacin remained buoyant in the European market. As the demand for Norfloxacin API-based drugs elevates, demand from end-user suppliers remained weak in the market. Supply chain disruption occurred as China couldn't export the API because of constricted ports and rerouting o a hike in SPI and natural gas prices. These facets governed the market sentiments of Norfloxacin in the European market. Altogether, decreased downstream demand, stockpiled inventories and weaken trading sentiments were some of the factors that resulted in the price decrement of Norfloxacin in Germany market. with the termination of Q2 the prices recorded for Norfloxacin were settled at USD 40000/MT CFR Hamburg.
For the Quarter Ending March 2022
During the first quarter of 2022, the prices of Norfloxacin soared in the North American region on the back of the increased downstream demand from the pharmaceutical industry. Prices rose in H2 of Q1 due to supply chain disruptions caused by prolonged port congestion in the American market. High freight expenses with surging crude prices further influenced the price chart of Norfloxacin during the quarter. Despite the Covid-19 restrictions, the Norfloxacin market showcased favorable sentiments due to the increased sexually transmitted diseases (STDs) such as Syphilis and Gonorrhoea in the United States, Canada, and Mexico. The increasing prevalence of urinary tract infections (UTIs) and urological health issues in diabetic people has increased the demand to produce antibacterial drugs.
The Norfloxacin market continued to fall in the first quarter of 2022, owing to sluggish demand from downstream derivatives in the Asia-Pacific region. The reduced pricing put downstream sectors under pressure due to ample supply and a weakening market. By the end of Q1, Covid in China harmed the growth of the Norfloxacin API market as China implemented lockdown to control the epidemic resulting in a surplus of Norfloxacin API in the domestic market. However, the contradiction of Norfloxacin in patients who were allergic to antibacterial, especially fluoroquinolones, and side effects such as nausea, rectal pain, and others restrained the market growth.
As the demand for Norfloxacin API-based drugs increased in the European region during the first quarter of 2022, Norfloxacin prices surged effectively in the downstream pharmaceutical industry. However, the manufacturers faced a shortage of API with fulfilling their domestic requirements amidst the tight supply. Substantial cost inflation in the drug prices boosted the API market the first quarter. The factors which had driven the expansion of the Norfloxacin API market were the rapid spread of urinary tract infections (UTI), chronic diseases, and an increase in the elderly population, which contribute to a vast patient pool. Accelerating demand from downstream, the prices increased drastically in Q1 2022 compared to the previous quarter.