For the Quarter Ending December 2022
North America
The prices of Sodium Benzoate excipients witnessed a mixed price trend during the final quarter of 2022 in the United States. Over the first half of the fourth quarter, Sodium Benzoate excipient price gradually decline with a decrease in its end-user demand. Upstream feed Benzoic Acid cost additionally supported the dwindled price trend of Sodium Benzoate in October. Following mid-q4, the quotations from traders increased significantly owing to a rise in its necessity within the domestic market. Furthermore, Supply chain disruption, which decreased rapidly over the six months to November and is now stabilized, including shipping costs somewhat, has helped easy availability of end-user products with market players, keeping the prices of Sodium Benzoate excipient on the upper end. Towards the end of q4, the prices dropped again in December and visualized a decrement at 2720/MT CFR New York.
APAC
In the fourth quarter of 2022, Sodium Benzoate excipients in the Asia Pacific area, particularly in China, demonstrated varied price trends. At the beginning of the fourth quarter, i.e., in October, the prices of Sodium Benzoate excipient declined considerably, following the trend of the previous month as the production cost witnessed a sharp fall. Later in mid-q4, as the demand surged, slightly market participants still had sufficient inventories with them to cater to overall requirements within the local market. Further, towards the end of this fourth quarter, the prices of Sodium Benzoate Excipients started to drop gradually owing to the resurgence of COVID-19 cases, which had an as significant effect on its manufacturing capacity and availability of upstream Benzoic Acid cost. With this, the cost of Sodium Benzoate Excipient in China was discussed at USD 1970/MT FOB Shanghai.
Europe
The Sodium Benzoate excipient market in Europe followed a similar trajectory to that in Asia Pacific during the fourth quarter of 2022. Start of the fourth quarter, the prices witnessed a significant dip with declining downstream demand and weakened upstream Benzoic Acid cost. Later in mid-q4, i.e., in November, a rise in demand from the end-user pharmaceutical business and sufficient stocks among the market players kept the market sentiments of Sodium Benzoate Excipient on the upper side. After November, sodium Benzoate Excipient again dropped considerably owing to a decrease in fresher orders from traders, New Year breaks, and the temporary shutdown of the local market. With this, the cost of Sodium Benzoate Excipient witnessed a settlement of USD 3100/MT CFR Hamburg in Germany.
For the Quarter Ending September 2022
North America
In the North American region, the third quarter of 2022 saw a declined market sentiment for Sodium Benzoate Excipient on account of weaker offtakes from downstream sectors such as pharmaceuticals and food. This was due to the wide availability of products in the local market. As the largest importer of Sodium Benzoate Exp. from China's domestic market is the United States, poor demand and enough stock kept the market sentiments of Sodium Benzoate Exp. On the lower side. Overall, with a month-on-month decrement, the Prices for Sodium Benzoate Exp. Settled at USD 2745 /MT CFR New York toward the end of the third quarter of 2022.
APAC
Asia Pacific region showcased varying market sentiments for Sodium Benzoate Excipient during the third quarter of 2022. In China, the values inclined stably during July, resulting in the destocking of stockpiled product inventories in both domestic and international markets. This further resulted in low freight costs as well as supply and port bottlenecks, which additionally supported the stability in the prices of Sodium Benzoate Excipient. Moreover, in the second half of q3, the prices went down considerably owing to low to moderate demand and increasing inventories with the suppliers. Towards the end of the Q3 of 2022, the Sodium Benzoate Exp. costs were assessed at USD 2170/MT FOB Shanghai in September.
Europe
European region mimics a similar pricing tendency as per Asia pacific for Sodium Benzoate Excipient throughout the third quarter of 2022. This was considerably due to a rise in demand from downstream businesses, such as the pharmaceutical sector, which resulted in its price increment in the first month of the third quarter. However, the price values started to decline in the second month of the third quarter and kept going until the end of q3. The fall in prices was primarily due to lessening customer inquiry and downstream merchants' ability to meet the necessities within the domestic market. With this in September, the Sodium Benzoate Exp. cost was assessed at USD 3175/ MT CFR Hamburg in Germany.
