Oxytetracycline HCL Prices: During the second quarter of 2023 | ChemAnalyst

For the Quarter Ending June 2023

North America:

In the United States, Oxytetracycline hydrochloride prices experienced a notable decline of 3.96% in June compared to levels observed in April. This price reduction can be attributed to several factors contributing to a challenging market environment. Notably, an abundance of supply and weakened demand played a pivotal role in driving prices lower. The market continued to grapple with an unpredictable supply and demand relationship, which further exacerbated the deteriorating market conditions. The United States relies significantly on China as a major API exporter, and the ease of trade facilitated an influx of Oxytetracycline hydrochloride imports, amplifying the supply in the US market and exerting downward pressure on prices. Additionally, as inflation moderated during the second quarter, prompted by interest rate hikes by the Federal Reserve, demand for Oxytetracycline HCl in the US market diminished, resulting in lower prices. Furthermore, the appreciation of the US dollar against the Chinese yuan in June made US imports more affordable and contributed to increased Oxytetracycline hydrochloride availability, further supporting the downtrend. The unfavorable market situation persisted as weak end-user demand compelled market traders and suppliers to implement price reductions to clear inventory.

Asia Pacific:

Oxytetracycline HCl prices in the Asia Pacific region recorded a notable decline of 3.78% in June compared to April levels. Multiple factors converged to drive this downward trend, including ample supply and diminishing demand, both on domestic and international fronts. The depreciation of the Chinese yuan against the US dollar underscored the persistent weakness in the Chinese economy, signaling a global economic slowdown and intensifying pressure on consumer sectors' external demand. China's manufacturing PMI remained below the critical threshold of 50 throughout the second quarter, with the National Bureau of Statistics (NBS) reporting a PMI of 49 in June, down from 48.8 in May and 49.2 in April, indicative of a manufacturing sector contraction. This contraction curtailed production due to lackluster consumer demand in the healthcare and pharmaceutical sectors, leading to reduced purchasing activity, diminished new orders, and subsequently lower prices for Oxytetracycline HCl. Additionally, the ongoing conflict in Ukraine continued to disrupt the API supply chain, impeding exports to various countries, including the United States, resulting in increased supply within the Chinese market, contributing to the decline in Oxytetracycline HCl prices.

Get Real Time Prices of Oxytetracycline HCL: https://www.chemanalyst.com/Pricing-data/oxytetracycline-hydrochloride-1343

Europe:

Oxytetracycline HCl prices in Europe registered a significant decrease of 3.99% in June compared to April levels. Several factors influenced this decline, including heightened purchasing activity and a reduction in inventories within the German market. In Germany, the June 2023 manufacturing PMI (Purchasing Managers Index) plunged to 41, down from 43.2 in May and 44.5 in April, signaling a severe downturn in the manufacturing sector, primarily attributed to the ongoing impact of the COVID-19 pandemic. Subsequent inquiries for new orders dwindled at an accelerated rate, reflecting weakening end-consumer demand. The German economy faced challenges stemming from rising inflation and an interest rate hike by the European Central Bank, leading to elevated food and energy prices. These inflationary pressures escalated living costs, curtailed consumer spending, and contributed to the downward trajectory of Oxytetracycline HCl prices. Furthermore, the appreciation of the Euro against the US dollar rendered imports more cost-effective and bolstered the supply of Oxytetracycline HCl in the German market, intensifying the downward pressure on prices.

 

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