Neomycin Sulphate Prices: In the second quarter of 2023 | ChemAnalyst


For the Quarter Ending June 2023

North America:

Neomycin Sulphate prices in the United States displayed a mixed trend during the second quarter. In May, prices registered a modest increase of 0.29% due to heightened end-user demand and concurrent inventory replenishment activities, which maintained a favorable market environment. However, the manufacturing PMI (Purchasing Managers Index) declined to 48.4 in May, indicating a slowdown in the US manufacturing sector and constraints in supply from manufacturers and suppliers due to reduced business activity. Despite these challenges, robust consumer demand persisted, contributing to higher Neomycin Sulphate prices in May. Conversely, prices experienced a 0.69% decline in June compared to May, primarily due to sluggish offtakes across end-user industries. Domestic suppliers maintained adequate Neomycin Sulphate stockpiles, resulting in continuous cost reductions in the domestic market. Furthermore, high Federal Reserve interest rates reduced demand for Neomycin Sulphate in the market, further supporting the downward price trend. Additionally, the appreciation of the US dollar against the Chinese yuan in June boosted imports into the US market, increasing supply and exerting additional downward pressure on Neomycin Sulphate prices.

Asia Pacific:

Neomycin Sulphate prices in China exhibited varying trends throughout the second quarter. In May, prices increased by 0.44% compared to April levels, driven by persistent domestic demand and ongoing operational activities. China's purchasing managers' index (PMI) fell to 48.8 in May from 49.2 in April, signaling a factory activity slowdown. Despite this, manufacturers and market suppliers reduced inventories to meet strong market demand, resulting in higher Neomycin Sulphate prices. Conversely, the price of Neomycin Sulphate declined by 0.83% in June compared to May, primarily due to a decrease in new orders and reduced consumer purchasing activity. The official PMI for the manufacturing sector rose to 49.0 in June from 48.8 in the previous month, suggesting a slowdown in manufacturing activity, accompanied by a decrease in production due to weak demand from end-users. However, prices remained low as market participants held sufficient inventory to meet current market demand. Moreover, China's exports fell by 12.4% in June, leading to an increase in Neomycin Sulphate availability in the Chinese market, further supporting the downward price trend.

Get Real Time Prices of Neomycin Sulphate: https://www.chemanalyst.com/Pricing-data/neomycin-sulphate-1375

Europe:

In Germany, the Neomycin Sulphate market exhibited mixed trends throughout the second quarter. Prices experienced a slight increase of 0.34% in May compared to April, driven by limited inventories among traders and suppliers, along with increased demand from end-user industries. Germany's manufacturing purchasing managers' index (PMI) declined to 43.2 in May from 44.5 in April, reflecting weaker business activity and lower inventories among market participants, resulting in delivery delays to meet market demand and subsequently higher Neomycin Sulphate prices. However, in June, the German economy was impacted by rising inflation and an interest rate hike by the European Central Bank, leading to higher food and energy prices. This increased living costs and reduced consumer purchases, supporting the downtrend in Neomycin Sulphate prices. Additionally, the appreciation of the Euro against the US dollar in June made imports cheaper and increased the supply of Neomycin Sulphate in the German market, resulting in decreased prices of Neomycin Sulphate.


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ChemAnalyst is a subsidiary of TechSci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.

 

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