For the Quarter Ending September 2023
In July, Diphenhydramine Hydrochloride prices experienced a significant decline, followed by subsequent increases in August and September. The drop in inquiries for new orders and sales during July was influenced by weak domestic and global demand. The Federal Reserve’s decision to raise its main policy interest rate by a quarter percentage point in July, the highest level in 22 years, contributed to a decrease in overall economic demand, supporting the downward pricing trend. However, prices rebounded in August and September due to higher energy prices, leading to increased company expenses and shipping costs for Diphenhydramine Hydrochloride. Gasoline prices surged as Russia and Saudi Arabia implemented supply cuts, propelling crude oil to a 10-month high of $91 per barrel. Additionally, reduced shipments from key exporting countries like China constrained Diphenhydramine Hydrochloride supply in the US market, resulting in higher prices. Meeting inventory demands became a priority for market participants, causing a surge in Diphenhydramine Hydrochloride pricing.
The pricing of Diphenhydramine Hydrochloride saw a notable 4.35 percent decline in July, followed by modest increases of 5.97% and 1.88% in August and September, respectively. July witnessed a further decrease in prices as industrial activity slowed and downstream industries experienced declining demand. With China’s official manufacturing PMI at 49.3 in July, indicating a fourth consecutive month of factory activity decline due to lower foreign orders and insufficient local demand, Diphenhydramine Hydrochloride prices were affected. However, prices rebounded in August and September as end-consumer demand increased amid limited market availability caused by the manufacturing sector’s prolonged decline. The Central Bank of China’s benchmark interest rate reduction, driven by economic concerns, stimulated market consumption and contributed to the rise in Diphenhydramine Hydrochloride prices in China. The purchasing managers’ index for manufacturing in China began to gradually rise back into the growing zone in September, signaling potential economic recovery.
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Diphenhydramine Hydrochloride prices in Europe experienced a notable descent in July, followed by subsequent ascents in both August and September. The July price drop was attributed to a slowdown in commercial operations and reduced demand from downstream industries. Various factors, including consumer reluctance, destocking, rising interest rates, tighter market conditions, and economic and geopolitical uncertainty, contributed to the significant reduction in goods demand. The price surge in August and September was driven by persistent inflation, escalating interest rates, and an oil crisis. Germany’s consumer price index (CPI) reported a +6.1% year-on-year change in August, with food and energy prices rising faster than average inflation. Energy product prices increased by 8.3% year on year in August. The continuously rising inflation led to higher expenses and operating costs for firms, contributing to increased Diphenhydramine Hydrochloride prices in Germany.
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