For the Quarter Ending December 2022
North America
North American region, particularly the USA, witnessed an inclined price trend for Ofloxacin during the start of October. Increased end-user demand balanced with enough supplies among the market participants kept the prices of Ofloxacin on the higher side. Slowing economic activity amid rising borrowing costs, Consumer spending, which edged up 0.1% after surging 0.9% in October, and ease in trade disruption along with shipment cost supported the market sentiments of Ofloxacin in the USA. Towards the mid of the fourth quarter till the end of 2022, the prices fell significantly with the settlement of USD 46155/ MT CFR Los Angeles backed by decremented inquiries coupled with the temporary shutdown of the domestic market owing to New-year holidays.
APAC
The prices of Ofloxacin plummeted at the end of 2022 in the Asia Pacific region, primarily in China. With the start of the fourth quarter, i.e., during October, the prices of Ofloxacin demonstrated a positive market outlook as the demand inclined considerably with an increase in supply chain activity. Following November, demand in China started to drop gradually, with sufficient stocks among the market participants to meet all immediate orders. The price of Ofloxacin got settled at USD 44750/MT FOB Shanghai. Following December, an outburst of lockdowns of COVID-19 muted economic output and affected the market sentiments of all the commodities, including Ofloxacin, in China.
Europe
During the fourth quarter of 2022, the European market for Ofloxacin imitated a similar pattern as that of North America. The market initially started on a weaker note up to November as the demand from the end-user sector pharmaceutical industry decreased, balanced with the overall supplies among the market participants. After November, demand for Ofloxacin increased slightly, keeping the prices on the stable side. The prices of Ofloxacin until November were gathered at USD 46100 /MT CFR Hamburg in Germany. At the same time, Fresher quotations from, Traders and inquiries from suppliers decreased in December of 2022 because of higher stock reserved with market players due to the market's brief closure on account of Christmas and New Year's eve.
For the Quarter Ending September 2022
North America
During the third quarter of 2022, the North American market for Ofloxacin API showed a modest dip. From July to September, the prices for CFR Los Angeles dropped from USD 47155/mt to USD 46400/mt. Since this pharmaceutical ingredient is primarily imported from China, the country's zero-covid policy significantly restricted the availability of this chemical in the nation. Due to the heat wave and a power shortage, several Chinese industrial facilities were forced to shut down in the second half of Q3, which had a detrimental impact on the USA's commerce. The US giants and economists attributed the nation's declining demand and market circumstances to a number of issues, including the nation's high-interest rates, limited supply, and high inflation.
Asia Pacific
As the FOB Shanghai prices in China decreased from USD 45285/mt to USD 44600/mt from July to September, the market trend for Ofloxacin in the APAC region showed a slight decline during the third quarter of 2022. The strong pharmaceutical industry demand during the first half of the quarter had a favorable impact on Ofloxacin's price chart. However, because of the sluggish offtakes and weak downstream demand, significant suppliers delayed placing sizable orders due to unexpected conditions, such as the country's later half's terrible weather and power outages. After the closure, when the markets reopened in the last week of July, a number of manufacturing facilities underwent maintenance. Additionally, the market dynamics in China over the final weeks of the quarter have been significantly impacted by extreme weather and economic issues, which somewhere propelled the price decline in the country.
Europe
In Germany, the prices of Ofloxacin API remained stable during the third quarter of 2022 and were settled at USD 46460 per MT CFR Hamburg in the quarter ending September. The instability in Russia and Ukraine, as well as the lockdown, port restrictions, and power outages in China, a major supplier, added to the already challenging economic climate in Europe. Additionally, the downstream pharmaceutical industries' demand was weak this quarter despite stable offtakes in these sectors.
For the Quarter Ending June 2022
North America
Ofloxacin API prices dropped in the North American region during the second quarter of 2022 due to weak end-user downstream demand from various pharmaceutical sectors. Besides that, Manufacturers were obliged to reduce the production rate, negatively affecting the prices for Ofloxacin API. Moreover, weakened purchasing and buying activities from the Customer's side resulted in stockpiled inventories in the local market, putting pressure on the dealers. The primary factor for price reduction of API in the market was reduced upstream feed Tetraflurobenzoyl chloride prices. Additionally, affected trading activities amid fluctuated fuel prices result in the price decrement of Ofloxacin API in the market and the prices were assembled at USD 48955/MT CFR Los Angeles in the Untied States .
Asia Pacific
During the second quarter of 2022, the market for Ofloxacin witnessed a decremented pricing trend in the APAC region backed by reduced upstream feed Tetraflurobenzoyl chloride prices. Reduction in trading activities amid the Covid situation in China during the month-end of Q1 -a major exporter of Ofloxacin to the various regions negatively affected the costs of Ofloxacin in the market. The prices went down initially in the Chinese market due to a decrease in upstream Raw material prices but then surged in mid of second quarter because of enhanced raw material costs and higher demand in the region. Additionally, the market plummeted towards the end of Q2 amid a reduction in downstream demand from end-user enterprises and got settled at USD 45500/MT FOB Shanghai.
Europe
The European region witnessed a declined price trend for Ofloxacin in the Second Quarter of 2022, backed by uncertain demand from downstream pharmaceutical industries. The decreased raw material prices severely affected the domestic market, which also affected Ofloxacin cost owing to lower buying and purchasing activities from Customer's side. Furthermore, the traders were compelled to trade Ofloxacin API somewhat at a lower price due to sufficient stocks and reduced demand. Also, a decrease in trading activities amid the Russian-Ukraine geopolitical tension, leading to the delayed shipment, caused a decline in freight charges and a reduction in API prices in the markets. Overall, the prices of Ofloxacin API demonstrated were assembled at USD 54600/MT CFR Hamburg in Germany.
