For the Quarter Ending June 2023

North America:

In the second quarter in the United States, Biotin prices exhibited a mixed pattern. April witnessed a 4.59% surge in prices driven by substantial orders from end-user industries and a shortage of Biotin in the US market. The Purchasing Managers Index (PMI) for manufacturing settled at 47.1 in April, reflecting a contraction in the manufacturing sector. This contraction led to constrained supplies among manufacturers and suppliers. Despite this, consumer demand remained robust, resulting in increased Biotin prices in April. In addition, a slight increase in inflation contributed to the downward trend in Biotin prices. May and June, however, saw a decline in prices by 4.52% and 2.42%, respectively. The manufacturing PMI dropped to 46.3 in June, indicating reduced purchasing activity and fewer follow-up orders, further impacting Biotin prices. The Consumer Price Index (CPI) in June showed a modest increase of 0.2%, reflecting a slowdown in inflation due to higher interest rates, resulting in diminished demand for Biotin in the US market.

Asia Pacific:

In China, Biotin prices experienced a marginal increase of 0.11% in April due to steady demand from nutraceutical and pharmaceutical industries, coupled with limited supply. The official manufacturing PMI, which was 51.9 in March, dropped to 49.2 in April, indicating a decrease in manufacturing activity. June's PMI settled at 49, signaling a decline in factory activity due to weakened demand from end-consumers, leading to reduced purchases, export sales, and new orders. The Chinese Yuan's depreciation against the US Dollar in June indicated a slowdown in China's post-pandemic recovery and weaker consumer confidence. The ongoing Russia-Ukraine conflict continued to disrupt supply chains, resulting in increased domestic supply in China and putting downward pressure on Biotin prices. Market providers focused on destocking to maintain profit margins.

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

Europe:

In Germany, Biotin prices rose by 1.96% in April due to limited stock among market suppliers and consistent demand from end sectors. A 1.7% drop in imports in April decreased the supply of Biotin in the German market. Strong demand from nutraceutical and pharmaceutical industries supported the upward price trend. However, prices declined significantly in May and June by 10.05% and 4.48%, respectively, due to weak purchasing power and excessive inventory. The Manufacturing PMI fell to 41 in June, reflecting a slowing German economy with reduced purchasing activity and inquiries for new orders. Rising inflation and higher interest rates imposed by the European Central Bank impacted the German economy, leading to higher food and energy prices, increased living costs, and reduced domestic demand. These factors supported the downtrend in Biotin prices.



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