Biotin Prices: Price, Trend, Pricing, News, Analysis | ChemAnalyst


For the Quarter Ending September 2023

North America

During the third quarter in the United States, the cost of Biotin steadily increased, following an upward trajectory. In September, prices surged by 6.43 percent compared to the previous month. Despite a consistently tight labor market and declining inflation, consumer confidence in the United States reached a two-year high in July. The Consumer Price Index rose by 3.2% year-on-year in July, up from 3% in June. Subsequently, in August and September, prices increased by 9.1% and 10.6%, respectively, leading to heightened corporate expenditures and transportation costs. The upward trend was further fueled by growing warehousing costs, a shortage of storage space, and inventory replenishment. September witnessed a significant price growth due to rising inflation, slowing trading activity, and sustained demand from end-user sectors, with the Consumer Price Index climbing to 3.7%, slightly exceeding the predicted 3.6%. Energy prices, particularly gasoline and fuel oil, also experienced increases. Market participants remained focused on replenishing inventories, contributing to the ongoing upward trajectory.

Asia Pacific

In China, the cost of Biotin experienced a notable decline of 9.94 percent in September compared to July prices. The Chinese economy faced challenges, leading to slowed economic growth. The official manufacturing PMI was 49.3 in July, indicating contraction rather than expansion. Lower overseas orders and sales hindered business and industrial activities. Inflation and rising interest rates in the US, Europe, and key export markets continued to impact Chinese demand. The new export order sub-index decreased for the sixth consecutive month in August. However, by September, China's manufacturing PMI returned to the growth zone at 50.2, suggesting an improvement in market demand and expanded corporate operations. Despite this positive shift, Chinese exporters faced political challenges and a global campaign to reduce dependence on China, resulting in reduced demand from foreign markets.

Get Real Time Prices of Biotin: https://www.chemanalyst.com/Pricing-data/biotin-1262

Europe

In Germany, Biotin prices exhibited a consistent downward trajectory since the beginning of the third quarter, with a recorded decline of 5.00% in September. In July, Germany's PMI was 41, indicating a persistent fall in new orders from both local and global markets, despite abundant stocks among market participants. Consumer confidence remained low in August due to rising interest rates, increasing inflation, the prolonged oil crisis, and global uncertainties. The continuous rise in inflation, primarily driven by high energy and oil prices, weakened consumer buying power and contributed to the decline in Biotin prices. Germany's industrial sector, a significant contributor to the country's economy, remained in a slump in September, attributed to weak demand and fast-declining output. In response to persistent inflation, the European Central Bank agreed to raise interest rates for the eleventh consecutive time in September, further suppressing market demand and perpetuating the downward trend.

 

 

 
 

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