For the Quarter Ending December 2022
North America
In the fourth quarter of 2022, the North American market witnessed seesaw sentiments for Chloroquine Phosphate due to fluctuating demand from downstream pharmaceutical industries. The prices of Chloroquine Phosphate in the US market surged in October and were assessed at USD 30800/MT but began to scale down from November. Supply chain disruptions from a major exporting country, mainly China, were noted due to the Golden week vacation in the first week of October and later Covid restrictions.
However, demand from downstream pharmaceutical industries has been strong owing to limited inventories, encouraging the trader's sentiment in the domestic market. However, improvement in import frequencies from China led to adequate stock in the market. Also, The cost of shipping goods from Asia to the US went down as fears over port congestion diminished considerably.
Moreover, a decrement was seen in the market dynamics due to weak demand and a dull purchasing sentiment ahead of the Christmas Holiday. Thus, the situation put pressure on the suppliers to clear out their stocks at a discounted price of around USD 28770/MT in December.
Asia- Pacific
In the Asia Pacific region, the prices of Chloroquine Phosphate witnessed a seesaw behavior during the last quarter of 2022, backed by the hovered downstream demand from various end-user pharmaceutical and nutraceutical industries. With entering the quarter, the Chloroquine Phosphate market opened on a good note, with prices rising considerably to USD 26000/MT until November amidst positive domestic trade entities. By the last month of 2022, the Chloroquine Phosphate prices suddenly decreased as demand was lower than expected, backed by pessimistic market sentiments. To secure shipment, producers cut the price marginally, resulting in a modest decline in the overall cost of Chloroquine Phosphate. Thus, the FOB Shanghai prices for Chloroquine Phosphate in China were assessed at USD 25100/MT in December 2022.
Europe
With the start of the fourth quarter of 2022, prices for Chloroquine Phosphate in Europe remained high because of low stock levels and surging demand from end-user industries like the pharmaceutical and healthcare sectors. Limited imports to Germany were observed due to the Golden Week holiday and China's lockdown regulations. A supply chain disruption and a rise in freight costs were also brought on by the conflict between Russia and Ukraine. However, prices started to decline from early November to late December because of the poor offtakes and the weak downstream demand. The suppliers also had enough inventory on hand to meet the whole domestic demand. As a result, the price of Chloroquine Phosphate CFR Hamburg dropped from USD 29700/MT in October to USD 27900/MT in December 2022.
For The Quarter Ending September 2022
North America
The North American market for Chloroquine phosphate initiated the Q3 of 2022 on an upward note, with prices settled at USD 31200 per MT in July. However, these prices eventually started plunging in August and falling even further to USD 29950 per MT in September. The repeated lockdowns in China, from which most API are imported, forced manufacturers of Chloroquine phosphate to cut their prices. Consequently, demand from the downstream pharmaceutical sector in the United States reduced during the H2 of the quarter. Also, some manufacturing facilities in China were shut down for maintenance, significantly lessening imports into the US. All these factors had a prominent effect on the downward price trend of Chloroquine phosphate in the US domestic market.
Asia- Pacific
Chloroquine phosphate prices showcased a see-saw trend in the Asia- Pacific region throughout the third Quarter of 2022. During July, prices of Chloroquine phosphate witnessed an upward trajectory in the Chinese market, backed by a reduced rate of supplies and a disrupted supply chain amidst continuous lockdowns in some parts of China. Also, Chinese ports were congested, berths were delayed, and vessels were clustering, resulting in the product's limited availability across the regional market. In contrast, prices started declining from the onset of H2 of Q3 as demand from the downstream pharmaceutical industries has been stable to weak amid the slowdown in China's economy. Towards the end of Q3, prices dropped by 4.3%, supported by sufficient regional stockpiles as production activities resumed. As a result, prices of Chloroquine phosphate were assessed at USD 24700/MT during September.
Europe
Prices for Chloroquine phosphate remained high in Europe with the onset of the third quarter of 2022 due to limited inventories and constant demand from end-user industries like the pharmaceutical and healthcare sectors. Also, the conflict between Russia and Ukraine, which increased freight costs and disrupted the supply chain, severely limited trade activity from importing nations. However, prices began to drop from August to late September due to the poor offtakes and the underwhelming downstream demand. In addition, there were enough supplies at the suppliers to meet the whole domestic demand. As a ripple effect, Chloroquine phosphate CFR Hamburg prices declined from USD 29750/MT to USD 29000/MT from July to September 2022.
For the Quarter Ending June 2022
North America
The prices for chloroquine phosphate API increased due to improved market sentiments in the North American region. Increased demand from downstream industries due to limited supply in the market supported the surge in price trend. Moreover, disruptions in import and export activities of Chloroquine Phosphate API were seen in the second quarter owing to the high transportation and fuel costs amidst a high inflation rate. Prices increased in June due to a fall in manufacturing activities and supply chain delays in the North American market. Enterprises occupied in passing surge of input costs to the downstream buyers and consumers in the local market during the second quarter of 2022.
Asia- Pacific
In the Asia Pacific region, the price of Chloroquine Phosphate API showcased an upward trend in Q2 2022 due to strong demand from the pharmaceutical sector. The prices were rising in India due to insufficient availability in the domestic market coupled with an unexpected increment in the raw material costs of Chloroquine Phosphate API among their manufacturing units. Moreover, higher solvent and excipient prices have risen amidst the two-nations conflicts hampering the supply-demand chain. The prices decreased gradually by the end of this quarter in the regional market of India, owing to the gradual relaxation of the logistics curbs and stabilized downstream demand. Thus, Chloroquine Phosphate prices were assessed at INR 1910000/MT for Ex-Vapi towards the end of Q2 of 2022.
Europe
In the European region, the Chloroquine Phosphate API market showcased bullish behavior during the second quarter of 2022, as demand for Chloroquine Phosphate-based products surged in the downstream pharmaceutical sector during this quarter. Moreover, the prices of Chloroquine Phosphate API increased in the second quarter due to a rise in the raw material chloroquine in the regional market. The invasion between Russia and Ukraine throughout the quarter disrupted the export structure. It increased Logistics charges due to high crude oil and natural gas prices, consequently resulting in the increment in the costs of the API. The expansion of Chloroquine Phosphate API prices was supported by the rising series of policy licenses and releases of anti-malaria medications.
For the Quarter Ending March 2022
Asia- Pacific
In the Asia Pacific region, the price of Chloroquine Phosphate API fluctuated drastically in Q1 2022 due to frail demand from the pharmaceutical sector. The prices were on the lower side in India due to sufficient availability in the domestic market as India started the production of Chloroquine Phosphate API in their manufacturing unit. Moreover, the decrease in prices of raw materials required for synthesizing API contributed to the fall in its prices. The prices increased gradually by the end of the quarter in the regional market of China as lockdown was imposed to curb the widespread infectious variant. Asia- Pacific Chloroquine Phosphate API market was on the upper side as compared to the previous Q4 2021.
North America
During Q1 2022, the prices for chloroquine phosphate API increased due to improved market sentiments in the North American region. Increased demand from downstream industries due to limited supply in the market supported the price trend. A sudden outbreak of the Covid pandemic had led to the implementation of stringent lockdown regulations resulting in disruptions in import and export activities of Chloroquine Phosphate API. With surging cases of Covid, the US manufacturer expanded manufacturing owing to strong demand. Prices increased in March due to supply constraints induced by protracted port congestion and supply chain delays in the North American market.
Europe
In the European region, the Chloroquine Phosphate API market showcased a stable behavior during the first quarter of 2022, as demand for Chloroquine Phosphate-based products surged in the downstream pharmaceutical sector. The prices of Chloroquine Phosphate API increased in the first quarter due to rise in the raw ingredient chloroquine in the regional market. The confrontation between Russia and Ukraine at the end of February disrupted export infrastructure and elevated freight charges due to high crude oil and natural gas prices, consequently increasing the prices of the API. The expansion of Chloroquine Phosphate API was fueled by the rising series of policy licenses and releases of anti-malaria medications.
