For the Quarter Ending March 2024
North America
Throughout the first quarter of 2024, the pricing dynamics of Clopidogrel Bisulfate in North America, particularly in the USA, initially displayed a positive trend before gradually declining. Market activity surged in January 2024, driven by heightened demand from the pharmaceutical and healthcare sectors, resulting in increased spot market prices, which subsequently decreased considerably by the end of March.
Market trends in the USA were heavily influenced by regional inquiries, bolstered by strong consumer confidence and robust economic indicators. However, supply chain disruptions from major exporting nations, ahead of the Red Sea dispute, led to export challenges further resulting in escalated freight costs considerably impacted market sentiments, and delayed arrivals from producing nations, contributing to sustained high prices. This trend continued until February 2024.
However, towards the end of the quarter, prices gradually decreased within the USA, reflecting a balanced supply-demand scenario. This decline was attributed to reduced freight charges and the strengthening of the US dollar, which lowered overhead costs and increased purchasing power in international markets, thus stabilizing the market. The resumption of trade activities further improved commodity availability, alleviating concerns about supply shortages and exerting downward pressure on prices. Furthermore, market participants implemented aggressive pricing strategies to stimulate demand and manage inventories supported by the quarter-end – destocking activities. Despite challenges, the overall trade activity continued to remain on the lower side affecting the overall supply outlook.
Asia Pacific
The Clopidogrel Bisulfate market in the APAC region embarked on a positive trajectory in the first quarter, marked by significant price fluctuations. January witnessed a notable increase in prices, driven by heightened demand from end-user sectors. Concurrently, overseas demand expanded, buoyed by new export orders. However, escalating shipping costs and port congestion increased operational expenses, potentially impacting consumer prices, including pharmaceutical APIs like Clopidogrel Bisulfate, which persisted into February. The market saw renewed confidence, supported by the depreciation of the Indian currency against the USD, bolstering prices and facilitating successful destocking of inventories at higher costs.
However, as March unfolded, prices began to decline steadily. This downturn was influenced by a slight reduction in regional demand and fewer-than-projected overseas inquiries from both regional and international markets. The subdued market sentiment regarding new orders was compounded by expectations of increased supply in certain regions, prompting merchants to hasten shipments. Overseas traders adopted a cautious stance, prioritizing essential purchases, while suppliers incentivized bulk buying to manage surplus inventory and prepare for future demand cycles. Normalization of freight charges presented opportunities for buyers, leading to heightened trade activities and shipments in March. Intensified market competition among suppliers, coupled with ample supply and reduced downstream consumption, further fueled the pricing decline as suppliers vied for market share.
Europe
In the initial quarter of 2024, the Clopidogrel Bisulfate market in Europe experienced a significant price surge until mid-quarter, followed by a notable decline in March, reflecting trends observed in other regions, notably North America. Beginning in January 2024, demand for Clopidogrel Bisulfate spiked, particularly in the pharmaceutical topical medications industry. Key industry players strategically placed bulk orders since the onset of Q4 to fulfill incoming demands. Despite challenges in maintaining supply-demand equilibrium, participants proactively adjusted prices upward to safeguard profit margins while prioritizing inventory accumulation. Significantly, the export sector encountered challenges as shipping routes were altered, redirecting vessels through the Cape of Good Hope to avoid disruptions in the Red Sea caused by geopolitical tensions. These changes led to increased shipping expenses, and played a pivotal role in shaping pricing dynamics, especially affecting industries heavily reliant on maritime transportation for their supply chains. The escalation in shipping costs further exacerbated the difficulties confronted by market participants. Furthermore, the depreciation of the Euro against the US Dollar added a layer of pressure to market conditions affecting the overall supply-demand side.
However, towards the latter part of the first quarter, prices steadily declined in March, reflecting a balanced supply-demand scenario. Downstream factories utilizing Clopidogrel Bisulfate as a feedstock operated at reduced rates, and the pace of finished product manufacturing was sluggish, contributing to diminished demand. Improved trade activities and shipments, coupled with underutilized capacity among suppliers, bolstered commodity availability, alleviating concerns about supply shortages and driving prices down. Despite these developments, challenges persisted due to weak demand, sluggish purchasing, and transactions occurring on a need-only basis throughout the month, keeping prices at lower levels.
For the Quarter Ending December 2023
North America
Throughout the entire fourth quarter of 2023, the pricing trends of Clopidogrel Bisulfate API aligned with market dynamics in the APAC region. Overall, prices exhibited an optimistic trajectory due to a continuous increase in downstream consumption within the region. However, at the beginning of the quarter, there was a modest decline in Clopidogrel prices attributed to weakened purchasing sentiments. Both domestic and international suppliers reported a lack of new inquiries, with Indian suppliers having ample capacity to meet regional demands.
Most new orders were volume-based, and the rate of pre-festive holiday stocking in the downstream market was typical, contributing to a less optimistic market outlook. Nevertheless, as the quarter progressed, particularly in November 2023, prices stabilized and remained on the higher side until the final weeks of December 2023. This steady upward trend was driven by a slight increase in downstream purchasing sentiments, effectively matched by available inventory levels of Clopidogrel Bisulfate within the local spot market, ensuring merchants could meet incoming requirements. The trajectory of Clopidogrel Bisulfate prices in the US closely mirrored that of exporting countries, creating a ripple effect across the entire global market until the last weeks of December 2023. These synchronizations reinforced robust market sentiments, contributing to the upward pressure on prices.
Furthermore, recent incidents of ships being attacked near the Suez Canal, coupled with persistent congestion in the Panama Canal, have introduced an additional layer of complexity to the global supply chain. The shortage of containers, caused by vessels unable to return to Asia in time and ocean carriers cancelling sailings on short notice due to ship diversions, has further compounded transportation challenges. As these critical trade routes encounter difficulties, the transportation and shipment processes become more cumbersome, exacerbating existing logistical issues, and consequently impacting the pricing of Clopidogrel Bisulfate.
Asia Pacific
In the Asia Pacific region, the market outlook for Clopidogrel Bisulfate remained positive throughout the fourth quarter, with prices experiencing a slight decline in October 2023. On the demand side, both domestic and international suppliers reported ongoing cautious inquiries, balancing the overall availability among market participants. Most new orders were conducted on a volume basis, and the downstream pre-festive holiday stocking rate was typical. Meanwhile, on the upstream market front, the values of feedstock such as acetone, sulfuric acid, sodium hydroxide, and methanol contributed to the downward pricing trend, reflecting an overall pessimistic market outlook. Contrary to this trend, as November 2023 began, the price of Clopidogrel Bisulfate stabilized and exhibited an upward trend. This increase was attributed to the growing demand for Clopidogrel Bisulfate-based medications, particularly due to the onset of the winter season in India, leading to a higher incidence of cardiovascular diseases in colder weather. This surge in demand for Clopidogrel Bisulfate, a key medication preventing blood clots, contributed to the price hike. On the supply side, the rise in Clopidogrel Bisulfate prices had repercussions for consumers, especially those relying on generic products. While some manufacturers absorbed the increased costs, others had to raise the prices of their finished products. The market conditions in December were further impacted by the rising cost of freight and the depreciation of the Indian INR against the US dollar, creating a nuanced pricing landscape. Overseas traders seized the opportunity presented by lower rates, procuring goods more favourably. As the pharmaceutical market grapples with these challenges and adjustments, the complex interplay of global and domestic factors continues to shape the pricing and demand dynamics for Clopidogrel Bisulfate-based medications in the Indian market.
Europe
In European region throughout the fourth quarter of 2023, Clopidogrel Bisulfate prices in the German market followed a trajectory similar to that of other importing regions such as North America i.e., the prices dropped considerably in October, rebounded in mid Q4 and continued this trend until final weeks of December 2023. The primary driver behind this decline was the abundant supply of Clopidogrel Bisulfate in the domestic market. Furthermore, sectors like pharmaceuticals and healthcare’s which are significant consumers of Clopidogrel Bisulfate, had been increasingly making just-in-time purchases witnessing a reduction in its prices. While moving forward in November 2023, with moderate improvement in consumer sentiments within the domestic market, Clopiogrel Bisulfate prices witnessed a significant rebound. The downstream panel factories aligned their procurement with incoming inquiries, fostering heightened bidding and offers among enterprises and influencing market dynamics Additionally, businesses actively prioritized inventory restocking with significant order placements during the season of consistent rising demand side, contributing to market strength throughout December 2023. As Germany is an importing nation, the prices of Clopidogrel Bisulfate in the country followed the trend of major exporting nations, resulting in an overall price increase.
For the Quarter Ending September 2023
North America
During the third quarter of 2023, the prices of Clopidogrel Bisulfate API followed the market trends in the North America region. Throughout Q3, prices remained on the pessimistic side primarily due to a decrease in demand from the downstream sector. Both domestic and international suppliers reported a lack of new inquiries, and Indian suppliers had sufficient capacity to meet regional and local demands. Most new orders were conducted based on volume, and the rate of pre-festive holiday stocking in the downstream market was typical, leading to a less optimistic market outlook. Additionally, the inventory of Clopidogrel Bisulfate remained high within the local spot market, ensuring that merchants could fulfill arriving requirements. Weaker manufacturing activity in the pharmaceutical sectors resulted from reduced consumer demand for specific drugs or their end products from retailers and suppliers. Producers, motivated by hot weather conditions in the middle of Q3, actively worked to decrease their inventory levels to prevent further product degradation. Furthermore, the significant increases in shipping costs discouraged many merchants from placing additional orders from exporting countries, contributing to the downward price trend throughout Q3.
Asia Pacific
Throughout the third quarter of 2023, the pricing trajectory of Clopidogrel Bisulfate API in the APAC region, particularly in India, remained weak. India's pharmaceutical and healthcare sectors experienced a continuous decline. Prices for various pharmaceutical APIs, including domestic IP and international USP grade Clopidogrel Bisulfate, witnessed a decrease. In contrast, prices of essential feedstock solvents like acetone, sulfuric acid, sodium hydroxide, and methanol, used in Clopidogrel production, increased, ensuring an ample supply in downstream industries. This led to a narrowed price difference between the feedstock and Clopidogrel Bisulfate in August 2023. Due to persistently low demand in both domestic and international markets, major industrial players are likely to decrease production in India, a significant producer of clopidogrel bisulfate. Additionally, in September 2023, India's Consumer Price Index (CPI) stood at 186.20 points, marking a 5.90% increase compared to September 2022. This high inflation rate in recent months has impacted the economic landscape. The demand outlook for Clopidogrel Bisulfate has turned negative, primarily due to shifting consumer preferences and intensified competition in the pharmaceutical sector. Suppliers, burdened with substantial stockpiles of Clopidogrel Bisulfate, had to adjust their pricing strategies to expedite product turnover.
Europe
Throughout the third quarter of 2023, Clopidogrel Bisulfate prices in the German market followed a trajectory similar to that of the APAC region. Consistently decreasing prices led to higher inventories among merchants and a weakened demand side. Contributing to this trend, the production of Clopidogrel Bisulfate API in exporting nations increased in the past month, resulting in higher output. This surge in supply globally exerted downward pressure on prices. In August 2023, suppliers focused on replenishing their warehouse inventories, leading them to offer their goods at lower costs consistently. Additionally, the German manufacturing sector continued to contract, albeit at a slower rate than in July, as indicated by the PMI reading. Supply chain disruptions, rising input costs, and weak demand were the primary reasons for this contraction. The global economic downturn negatively impacted the demand for logistics services. When the future is uncertain, businesses tend to be less willing to expand or invest in new projects. Market experts have noted that prices have been declining rapidly since the beginning of 2023 due to high inventories and economic uncertainty. The cautious approach of the downstream pharmaceutical industry, which previously influenced prices, could have short-term consequences.
For the Quarter Ending June 2023
North America
The cost of clopidogrel bisulfate in the North American region showed a declining pricing trend similar to that of the APAC region. Prices for clopidogrel bisulfate decreased steadily during the second quarter across North America in comparison to the first quarter. The decreasing trend persisted until the last week of June due to a fluctuating downstream market for the feedstock used to make clopidogrel bisulfate as well as a steady decline in local demand from the downstream pharmaceutical sector.Large warehouse inventories held by market participants and limited consumption of existing ones were contributing factors in the ongoing decline in domestic demand, which compelled them to lower domestic prices in order to reduce their inventories and protect their end products. However, taking into account the consumer price index (CPI) for June 2023 in North America, specifically the United States, it increased by 0.1% in June 2023 compared to May, with domestic suppliers of Clopidogrel Bisulfate having enough inventory to satiate local demand throughout the second quarter of 2023.
Asia Pacific
Bearish market sentiment was evident in the price of the active pharmaceutical ingredient Clopidogrel Bisulfate during the second quarter, as prices fell sharply until the final weeks of June 2023. One of the main causes of the decrease in Clopidogrel Bisulfate prices in April 2023 is the fact that consumer inflation has significantly decreased, which has weakened purchasing activity. Additionally, India's annual inflation rate dropped from 5.7% in March to 4.7% in April 2023, the lowest level since October 2021 and slightly less than forecasts of 4.8%. The cost of fuel also began to decline. This strengthened the regional market trajectory for Clopidogrel Bisulfate going downhill. While the consumer price index also fell in May, from 4.70% in April, to 4.25%, from 5.66% in March, to 6.44% in February, and to 6.52% in January. According to economists, this steady decline in inflation portends a more controlled and stable price environment for consumers as well as a gradual easing of energy costs. The Reserve Bank of India (RBI) considers this a positive development, as it indicates that inflation is falling below its upper tolerance limit of 6% for three consecutive months. Following a similar trend, the prices for Clopidogrel Bisulfate ended Q2 at a continuously weaker trend, with prices recorded at USD 45005.42/MT EXW-Ludhiana.
Europe
Throughout the entire second quarter of 2023, prices for clopidogrel bisulfate in the German market followed a market trend from the APAC region. At the beginning of Q2, prices across the region kept falling as a result of weaker consumer demand, which led to greater stockpiling of inventories among retailers and suppliers. Up until the last few weeks of June, there was a depressing market environment due to the overabundance of inventory at the local retailers and the falling upstream costs. Furthermore, market participants have primarily focused on destocking their previous inventories due to lower inquiries and worries that tepid temperatures will degrade goods and cause significant profit losses, as Germany is particularly suffering from the heatwave in June. As a result, the onset of the seasonal changes, however, also made the buyers hesitant to make significant orders. Apart from that, the currency fluctuation during the entire month of June further affected the market sentiments of Clopidogrel Bisulfate across the European market as the value of the euro has declined against the US dollar in recent months, which has made the pharmaceutical APIs more expensive for buyers in the eurozone. Contributing to the decline in prices.
