After Witnessing a Continuous Dip, Aspirin API Prices Likely to Gain Momentum

Aspirin API prices in the global market continued to decline as demand from end-user pharmaceutical and healthcare industries plummeted. However, market activity remained slow as supply continued to outpace available demand in the domestic market.

In China, the downward price trend of Aspirin API was noted since early November and continued to drop till the end of January 2023 as sentiment remained cautious despite recent optimism over recovering demand in the world's second-biggest economy with the lifting of its zero-COVID policy. The reason behind this declining trend was decreasing demand from the end-user pharmaceutical industry, which resulted in weak purchasing sentiment. Domestic manufacturers had to drop their prices as they had sufficient supply, which collided with weak demand. With dull domestic market activity, overseas orders decreased as buyers were in a certain wait-and-see mood. Therefore, the Aspirin API price is affected by all these variables, which resulted in a price drop of 2% in January.

Similarly, the US domestic market resulted in a price plunge of around 1.6% for Aspirin API in January 2023. However, the continuous supply from distributors resulted in the adequate availability of products among end-user producers. Therefore, the offtake of Aspirin API from end-user industries was decremented as they were not experienced much necessity.

On the other hand, the Aspirin API market continued to be stable, but the focus shifted downward in the European market during the same timeframe as concerns over stable demand amid ample inventories. However, slow buying activity for Aspirin API propelled suppliers to clear out their stocks at a discounted price.

According to ChemAnalyst, "Aspirin API prices will likely witness an elevated trend in the upcoming month. Besides, the trend will be upward until and unless demand for Aspirin API from the downstream pharmaceutical industry surges. Moreover, the enhanced trading activities from overseas enterprises are another reason behind the improvement in Aspirin API prices."