For the Quarter Ending June 2023

North America

Throughout the second quarter of 2023, the pricing of Ofloxacin in the North American region displayed a mixed trajectory. The quarter began with a continuation of the previous month's market trend, leading to a steady rise in inquiries from the domestic pharmaceutical and healthcare sectors. However, by May, Ofloxacin prices experienced a 2% decrease from the previous month. This decline was influenced by a combination of reduced demand, increased supply, and a weakening currency. The USA observed a decline in Ofloxacin prices due to heightened stocks from China and India, both major suppliers of Pharmaceutical APIs, including Ofloxacin. Furthermore, the weakening US dollar against other currencies contributed to reduced trade, making Ofloxacin more expensive for US buyers and consequently lowering demand. Despite this, prices rebounded moderately in June. Domestic Ofloxacin suppliers maintained significant inventories to meet local demand. Additionally, the US Consumer Price Index (CPI) saw a 0.1% rise in June 2023. As a result, Ofloxacin prices settled at USD 41650/MT CFR Los Angeles.

Asia Pacific

In the second quarter of 2023, the price of Ofloxacin, a vital Active Pharmaceutical Ingredient, exhibited fluctuating market sentiments. The quarter began with a moderate surge in April, maintaining the market's previous month sentiment. Steady consumption was observed in both domestic and global markets during April, coupled with strong export activities from China driven by international demand. However, as the second quarter progressed, prices experienced a decline of around 4%, prompted by increased merchant inventories and reduced export momentum. The appreciation of the Chinese Yuan against the US dollar in recent months made products like Ofloxacin more expensive for foreign buyers, leading traders and manufacturers to adjust prices to align with market dynamics. As the quarter concluded, the pharmaceutical API market improved with the termination of Q2-2023. China's Consumer Price Index (CPI) rose by 0.2% in June 2023. With these factors in play, Ofloxacin API prices settled at USD 4810/MT FOB Shanghai across the Asia Pacific region.

Ofloxacin Prices: https://www.chemanalyst.com/Pricing-data/ofloxacin-1396

Europe

Throughout the entire second quarter, the pricing trend of Ofloxacin in Europe mirrored that of the United States. The prices exhibited an upward trajectory until April, followed by a significant decrease in May, and finally a stable rebound in June. The price trend in April was supported by sustained demand, ongoing manufacturing activities, and consistent supplies. However, as May approached, prices dropped by over 5% to settle at USD 24500/MT. This decline was attributed to a decrease in international inquiries and climatic shifts that led to reduced orders from retailers and suppliers, as warmer weather could potentially impact the quality of medicines and their raw materials. The weakened German Purchasing Manager Index (PMI) for May, which fell from 54.8 to 52.2, also contributed to May's price trend. As the second quarter concluded, Ofloxacin prices reached USD 46650/MT CFR Hamburg, demonstrating a stable incremental trend as market participants ensured sufficient stocks to meet overall demand.



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