For the Quarter Ending June 2025
North America
• The Terbinafine Hydrochloride Price Index in the USA rose by 4.22% in April 2025, supported by a 145% tariff on Chinese goods that drove preemptive procurement and pushed Product Spot Prices upward.
• The Product Demand Outlook remained firm in April, as easing inflation (CPI at 2.3%) maintained consumer confidence and supported sustained pharmaceutical offtake.
• April’s supply chain tightening was fueled by a 9.1% YoY rise in U.S. container imports, with buyers accelerating sourcing due to geopolitical risk and shifting toward non-Chinese suppliers.
• In May, the Price Index dropped by 0.70% as overstocking from April led to inventory destocking, while a mid-May tariff truce and a new U.S. drug pricing order curbed fresh orders.
• Product Spot Prices in May softened amid a sharp 20.8% decline in China-origin pharmaceutical imports, easing pressure on domestic availability and altering buyer behavior.
• President Trump’s May 12 executive order introducing the “Most Favored Nation” pricing model dampened market confidence and further limited Terbinafine Hydrochloride purchasing activity.
• In June, the Price Index rebounded by 1.45% due to early importer action, inflation-linked cost escalations, and forward purchasing aimed at mitigating future trade volatility.
• Buyers brought forward late-year orders in June to capitalize on stable trade conditions, creating mild supply-side tightness that pushed up Product Spot Prices.
• The Product Production Cost Trend turned inflationary in June as broader U.S. price adjustments encouraged pharmaceutical buyers to lock in current rates.
• In July 2025, prices are likely to increase modestly as suppliers delay restocking, distributors shift from deep discounting to margin protection, and localized availability remains tight.
APAC
• The Terbinafine Hydrochloride Price Index in China rose sharply by 4.30% in April 2025 due to tight supply, strong domestic demand, and frontloaded U.S. orders ahead of a 145% tariff, pushing the Product Spot Price to USD 53,400/MT.
• A solid Product Demand Outlook in China was reinforced by seasonal restocking, strategic pharmaceutical procurement, and pre-summer inventory buildup by local manufacturers.
• April's Product Production Cost Trend remained firm as outbound logistics tightened amid high order volumes and limited upstream availability.
• In May, the Price Index declined by 0.75% to USD 53,000/MT, as weakened exports, sluggish global demand, and accumulated inventories triggered cautious buyer sentiment and price reductions.
• Chinese manufacturing saw its sharpest contraction in over a year in May, reducing order inflows and causing inventory backlogs that led to supplier price concessions.
• May's subdued Product Demand Outlook reflected delayed shipments and regulatory confusion following the temporary lifting of U.S. tariffs mid-month.
• In June, the Price Index rebounded by 1.32% to USD 53,700/MT, supported by a 90-day U.S. tariff suspension and an early export rush led by North American buyers.
• Ocean freight GRIs and tight shipping space drove costs higher, influencing suppliers to adjust prices upward to protect margins.
• Export-centric production rebounded moderately in June, clearing excess stock and enabling higher pricing flexibility amid a positive short-term outlook.
• Price Index likely to increase in July 2025 as U.S. buyers frontload more orders before the August tariff window closes, with Product Spot Prices expected to remain elevated due to strong international demand and limited supply expansion.
Europe
• The Terbinafine Hydrochloride Price Index in Germany rose by 4.24% in April 2025, driven by seasonal logistics disruptions, port congestion, and shifting global trade flows impacting supply chains.
• Germany’s Product Spot Price in April was supported by stronger downstream demand due to improved consumer confidence and stable inflation, which encouraged buyers to accept moderate price increases.
• April’s market faced supply bottlenecks at Northern European ports like Hamburg and Antwerp, combined with rerouted shipments originally bound for the U.S., tightening regional inventory levels and pushing prices up.
• In May 2025, the Terbinafine Hydrochloride Price Index declined by 0.76%, reflecting sluggish retail demand, ample inventories, and continued logistical challenges that softened pricing.
• The May Product Price Forecast showed downward pressure as importers delayed fresh orders amid persistent port congestion and a cautious purchasing stance by downstream buyers.
• Despite a stable Consumer Price Index at 2.1%, inflationary pressures dampened healthcare spending, causing subdued Product Demand Outlook and prompting suppliers to reduce price offers.
• June 2025 saw a 1.38% increase in the Terbinafine Hydrochloride Price Index, influenced by worsening port congestion and unpredictable delivery timelines, which tightened supply availability.
• The Product Production Cost Trend in June was affected by extended lead times and rerouting, raising freight costs and encouraging early restocking to mitigate future disruptions.
• Importers increased procurement in June to safeguard against anticipated supply interruptions in July and August, supporting a firmer Product Spot Price despite steady downstream demand.
• For July 2025, the Product Price Forecast anticipates a likely increase due to expected worsening port congestion and persistent disruptions in Rhine River barge logistics, encouraging importers to boost orders and maintain supply continuity.
For the Quarter Ending March 2025
North America
In North America, Terbinafine Hydrochloride prices followed a volatile trajectory in Q1 2025, influenced by shifting trade policies and supply chain disruptions. Prices rose in January as importers accelerated purchases ahead of a proposed 10% tariff on Chinese goods set for February. This frontloading, coupled with rising energy costs and the upcoming Chinese Lunar New Year, strained supply chains, pushing prices higher.
In February, prices declined due to the recovery of Chinese production post-holiday and lower freight rates that facilitated smoother imports. Economic uncertainty and earlier stockpiling led to weaker demand, further dampening prices.
March saw a slight price rebound as concerns over pharmaceutical supply continuity emerged following President Trump’s tariff announcements targeting key trade partners. The anticipation of further tariffs in April prompted early procurement efforts, while slightly easing consumer inflation improved market sentiment.
The quarter concluded with a modest price recovery, driven by renewed buying interest and continued supply chain concerns, reflecting a turbulent yet resilient market responding to geopolitical and economic developments.
Asia Pacific
In Q1 2025, Terbinafine Hydrochloride prices in India displayed a fluctuating trend shaped by changing demand and supply conditions. Prices edged higher in January, supported by strong domestic pharmaceutical sales, an 8.7% growth in the Indian Pharma Market, and robust international demand. Easing inflation improved consumer sentiment, while India's manufacturing sector benefited from a surge in exports driven by global restocking before anticipated tariffs. This created supply pressure and enabled market participants to raise prices. However, in February, prices declined as steady pharmaceutical production ensured sufficient supply, and demand weakened both domestically and internationally. Indian buyers limited fresh purchases amid existing stockpiles, while global demand softened due to uncertainty in the U.S. pharmaceutical sector and reduced urgency in Europe. By March, prices rebounded due to tightened domestic supply, as exporters accelerated shipments to the U.S. ahead of tariffs effective in April. Renewed domestic buying, fueled by improved sentiment and increased downstream pharmaceutical demand, further supported the upward trend. Overall, the quarter was marked by initial growth, a mid-quarter dip, and a strong finish, driven by trade anticipation, consumer behavior, and export strategies.
Europe
In Europe, Terbinafine Hydrochloride prices saw notable fluctuations in Q1 2025 due to changes in demand and supply conditions. January experienced a moderate price increase, driven by positive business sentiment in key markets like Germany, and heightened demand from the healthcare sector. Stockpiling activity ahead of the Chinese Lunar New Year added upward pressure on prices. However, February saw prices decline as supply remained stable and demand weakened. The strengthening Euro against the U.S. Dollar, along with falling freight rates, made imports more cost-effective, contributing to an accumulation of inventories. This reduced the urgency for new purchases and led to a softening in prices. In March, prices rebounded slightly due to supply constraints arising from port congestion and labor unrest in parts of Europe. These disruptions affected shipments, while a recovery in pharmaceutical sector confidence and restocking activities boosted demand. The quarter ended with a modest upward trend in prices, underpinned by supply-side challenges and a rebound in market sentiment, indicating a stable outlook moving forward.
For the Quarter Ending December 2024
North America
In Q4 2024, Terbinafine Hydrochloride prices in the USA experienced fluctuations driven by economic uncertainties and changing market conditions. In October, prices fell as inflation concerns and weak consumer confidence led to reduced demand across multiple sectors. Businesses, wary of the upcoming election and potential interest rate hikes, adopted a cautious stance, lowering prices to encourage sales. External disruptions, including hurricanes and strikes, further exacerbated the market slowdown.
November, however, saw a price increase as consumer confidence improved and expectations of lower inflation took hold. Optimism about the labor market and the anticipation of supply chain challenges during the holiday season led to proactive purchasing, with businesses also stockpiling ahead of a potential labor strike in January.
By December, prices declined again, primarily due to a drop in consumer confidence and weakened demand from key sectors, including pharmaceuticals. Rising inflation concerns and inventory buildup in anticipation of strikes kept supply levels high, prompting suppliers to lower prices to stay competitive. Overall, Q4 2024 was marked by a volatile Terbinafine Hydrochloride market, with price fluctuations largely influenced by economic uncertainty, consumer sentiment, and ongoing supply chain challenges.
APAC
In the fourth quarter of 2024, Terbinafine Hydrochloride prices in India followed a fluctuating trajectory, shaped by both domestic and global influences. In October, prices dropped significantly due to the combined impact of high inflation, rising interest rates, and logistics disruptions. These factors weakened consumer purchasing power, reduced demand, and exerted downward pressure on prices, even though manufacturing activity was recovering and supply levels remained adequate. In November, however, the market saw a rebound, with prices rising due to strong export demand, a depreciating Indian Rupee, and increasing production costs. The surge in export orders, along with the added pressure of rising costs, contributed to the upward movement in prices. By December, prices once again saw a decline, driven by weaker manufacturing growth, falling demand from end-user sectors, and easing cost pressures. Reduced concerns over supply chain issues, combined with efforts to clear excess inventory, contributed to a downward price adjustment. Overall, Q4 2024 was marked by volatility, with external factors and economic conditions heavily influencing Terbinafine Hydrochloride price movements.
Europe
In Q4 2024, Terbinafine Hydrochloride prices in Germany experienced notable fluctuations, influenced by a range of factors. October saw a decline, primarily due to soft market conditions driven by consumer concerns over inflation, which dampened demand for pharmaceuticals. Additionally, a sharp drop in container shipping rates on Asia-Europe routes and proactive logistics strategies helped maintain a balanced supply, leading market participants to adjust prices downward.
November brought a price increase, fueled by heightened demand from the pharmaceutical sector, an improvement in consumer sentiment, and stockpiling ahead of the holiday season. A surge in freight rates and the depreciation of the euro further contributed to the price rise, though buyers remained cautious due to ongoing economic uncertainties.
In December, prices dropped again, influenced by weak demand from key sectors, economic instability, and persistent inflation concerns. High inventory levels, combined with harsh winter weather and logistical delays, put downward pressure on prices. Suppliers focused on clearing stock before the new year, contributing to the price reduction. Overall, Q4 2024 was marked by volatility in Terbinafine Hydrochloride prices in Germany, with fluctuations driven by evolving demand, economic challenges, and supply chain issues.
For the Quarter Ending September 2024
North America
In the third quarter of 2024, the North American Terbinafine Hydrochloride market experienced a volatile pricing pattern influenced by various factors affecting multiple sectors. Notably, the United States saw the most significant price fluctuations, resulting in an unstable pricing landscape characterized by considerable shifts throughout the quarter.
At the outset, prices declined due to several factors exerting downward pressure on the market. A key contributor was the inflation rate, which had spiked above 9% but began to significantly decrease as the quarter advanced. This drop in inflation led to reduced overall operational costs for businesses, enabling them to lower Terbinafine Hydrochloride prices and pass on these savings to consumers. However, as September approached, a turning point emerged, and prices began to rise sharply. This increase was driven by a combination of economic and logistical factors. Consumer confidence improved, spurred by better perceptions of the economy and easing inflation, even as concerns about the labor market persisted. This renewed optimism fueled increased demand for Terbinafine Hydrochloride, exerting upward pressure on prices.
In response to these evolving dynamics, market participants took proactive measures to bolster their inventories, anticipating a future surge in demand and aiming to mitigate potential supply chain disruptions.
APAC
Throughout Q3 2024, the pricing of Terbinafine Hydrochloride in the APAC region exhibited a mixed trajectory, characterized by an initial decline followed by a recovery by the end of September. During July and August, prices experienced a downturn, primarily driven by weak market sentiments. A significant factor contributing to this decline was the reduction in new business and orders, influenced by shifting consumer preferences and heightened competition among manufacturers. This combination of factors resulted in tempered demand, compelling firms to adjust their pricing strategies downward to remain competitive. Furthermore, the export market experienced sluggish growth, marking its slowest pace since April. This lack of momentum in exports reflected weak global demand, reinforcing the downward trend in Terbinafine Hydrochloride prices. As a result, manufacturers faced challenges in maintaining stable pricing levels amid these adverse conditions. However, the landscape shifted as the quarter progressed into late September. Prices began to rebound, driven by a notable slowdown in the manufacturing sector that followed a period of robust growth. This shift indicated that production levels were struggling to meet the increasing demand for Terbinafine Hydrochloride. The discrepancy between supply and demand created potential supply constraints, a situation that typically results in upward pressure on prices.
Europe
During the third quarter of 2024, the pricing dynamics of Terbinafine Hydrochloride in the European region exhibited a varied trend influenced by several critical factors. Initially, prices saw a decline, primarily due to weaker-than-anticipated demand in the German market, particularly within the nutraceutical and healthcare sectors. This sluggish demand prompted market participants to adopt a cautious strategy, opting to maintain significant inventory levels to address the current consumption needs in Germany. However, as September approached, a notable shift occurred, with prices beginning to rise. This increase was fueled by robust demand from end-user industries, along with strategic inventory management practices by companies preparing for possible disruptions. Additionally, favorable macroeconomic conditions contributed to this upward movement. The ongoing conflict in the Red Sea further complicated the situation by disrupting global maritime traffic, leading to logistical challenges and constraining the supply of Terbinafine Hydrochloride. These supply limitations exerted additional upward pressure on prices as market dynamics evolved. Moreover, improvements in consumer sentiment, particularly in Germany, played a crucial role in revitalizing demand and fostering a more optimistic market outlook. Despite the various challenges confronting the industry, companies proactively worked to bolster their stockpiles in anticipation of potential shipping delays, thereby supporting the upward trend in prices.
FAQs
1. Why did Terbinafine Hydrochloride prices rise globally in April 2025?
April saw a sharp increase in the Price Index across all major regions due to frontloaded procurement ahead of the U.S. 145% tariff on Chinese pharmaceutical imports. In North America and China, buyers rushed to secure inventories, causing supply tightness. Europe faced additional logistical challenges, including port congestion, which limited availability and supported higher Product Spot Prices.
2. What caused the price dip in May 2025 despite ongoing demand?
The global Price Index softened in May due to excess inventories accumulated in April. In the U.S., a temporary tariff suspension and a new drug pricing executive order reduced buying urgency. In China, weaker exports and domestic manufacturing slowdown led to price concessions. Europe also saw subdued retail demand and delayed import activity amid persistent port congestion.
3. Why did prices rebound in June 2025 across key markets?
Prices recovered in June as buyers resumed forward purchasing to hedge against future trade volatility and inflationary pressure. In North America, early importer action created mild supply tightness. In APAC, a temporary U.S. tariff suspension triggered a rush of exports. Meanwhile, worsening logistics in Europe prompted preemptive restocking, which supported a rebound in regional Spot Prices.
4. What is the price outlook for Terbinafine Hydrochloride in July 2025?
A modest price increase is expected globally in July. In North America, suppliers may slow restocking and shift focus toward protecting margins. In China, frontloaded U.S. demand before the August tariff window is likely to tighten supply. Europe is expected to face escalating port disruptions, encouraging buyers to place early orders and maintain price firmness.
