For the Quarter Ending September 2023
In July, Levofloxacin Hemihydrate prices experienced a significant decline of 3.76%, followed by a marginal increase of 1.61% in August and a modest rise of 0.43% in September. During July, new order inquiries and sales dwindled due to weak domestic and global demand, exacerbated by the Federal Reserve’s decision to raise its key policy interest rate by a quarter percentage point—its highest level in 22 years. This move reduced overall demand in the economy, supporting the downward trend in Levofloxacin Hemihydrate prices. However, prices rebounded in August and September, driven by a surge in energy prices, which escalated overall business expenses and transportation costs. Gasoline prices rose as Russia and Saudi Arabia implemented aggressive supply cuts, propelling crude oil to a 10-month high of $91 per barrel. Additionally, a decrease in imports from major exporting countries like China limited the supply of Levofloxacin Hemihydrate in the US market, contributing to the price hike. Market participants prioritized inventory replenishment, further fueling the rise in Levofloxacin Hemihydrate pricing.
Levofloxacin Hemihydrate prices in the Asia Pacific region witnessed a notable decrease of 2.13% in July, followed by a slight increase of 1.36% in August and a modest rise of 0.79% in September. The decline in prices during July was attributed to a slowdown in factory activity and reduced demand from downstream sectors. With China’s official manufacturing PMI registering at 49.3 in July, indicating a contraction in factory activity for the fourth consecutive month, the oversupply and weak domestic demand played key roles. Prices saw an upturn in August and September due to an improvement in end-consumer demand and constrained supply caused by the prolonged downturn in the industrial sector. Furthermore, China’s central bank’s decision to lower its key interest rate aimed at stimulating market consumption contributed to the rise in Levofloxacin Hemihydrate costs in China. The rebound of China’s manufacturing PMI into the expanding zone in September signaled a positive economic revival within the country.
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In July, Levofloxacin Hemihydrate prices in Europe displayed a significant decrease of 3.52%, followed by modest increases of 1.53% and 0.82% in August and September, respectively. The July price decline was attributed to a slowdown in business activity and decreased demand in downstream sectors. Factors such as customer hesitancy, destocking, increasing borrowing rates, tightening market conditions, and economic and geopolitical uncertainty contributed to the steep drop in demand for goods. Prices rebounded in August and September due to persistent inflation, rising interest rates, and an energy crisis. In August, Germany’s inflation rate was +6.1%, driven by the year-on-year change in the consumer price index (CPI). High inflation in food and energy prices, with an 8.3% year-on-year increase in energy products, contributed to elevated expenses for maintaining Active Pharmaceutical Ingredients (APIs) in businesses, leading to higher Levofloxacin Hemihydrate prices in Germany.
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