North America

Within the North American region, Ofloxacin prices display a varied trajectory throughout the second quarter of 2023. The quarter commences in alignment with the previous month's market trend, showing a steady rise in inquiries from the domestic pharmaceutical and healthcare sector. However, May witnesses a 2% price decline compared to the prior month. This reduction can be attributed to a combination of decreased demand, increased supply, and a weakening currency, resulting in a dip in Ofloxacin prices in the USA. China and India, being significant suppliers of Pharmaceutical API including Ofloxacin, have augmented production to meet growing demands in recent months, leading to elevated stocks. Moreover, the weakening of the US dollar against other currencies has rendered Ofloxacin pricier for US buyers, further curbing demand and exerting downward pressure on prices. June sees a gradual price rebound, with domestic Ofloxacin suppliers maintaining substantial inventory to fulfill local demand. Additionally, the US Consumer Price Index (CPI) increased by 0.1% in June 2023 compared to May. Consequently, Ofloxacin prices settle at USD 41650/MT CFR Los Angeles.

Asia Pacific

The second quarter sees an oscillating market sentiment for Ofloxacin, an Active Pharmaceutical Ingredient, within the Asia Pacific region. Beginning in April, prices experience moderate growth, mirroring the sentiment from the previous month. Consumption remains steady both domestically and globally, particularly in April. Furthermore, persistent international demand prompts increased export activities from China. As the quarter progresses, prices begin to decline by around 4% due to ample merchant inventories and a subsequent reduction in export momentum. Recent strengthening of the Chinese Yuan against the US dollar has made end-products, including Ofloxacin, more expensive for international buyers, prompting traders and manufacturers to further adjust prices. This leads to an improved pharmaceutical API market sentiment by the quarter's end, with China's Consumer Price Index (CPI) rising by 0.2% in June 2023 from May. Ofloxacin API prices in the regional market settle at USD 4810/MT FOB Shanghai.

Europe

Throughout the entire second quarter, Ofloxacin prices in Europe parallel the market trend observed in the United States. Prices climb until April, sharply drop in May, and then stabilize in June. The upward trend in April is fueled by consistent demand, ongoing manufacturing activities, and merchant supplies. However, May experiences a more than 5% price decrease, settling at USD 24500/MT. This shift is attributed to reduced international inquiries and climatic conditions leading to subdued orders from retailers and suppliers, as higher temperatures can degrade medicines and their raw materials. Furthermore, weakened German Purchasing Manager Index (PMI) for May, dropping from 54.8 to 52.2, contributes to May's pricing trend. As the second quarter concludes, Ofloxacin prices gather at USD 46650/MT CFR Hamburg, showcasing a steady upward trend, with market participants ensuring sufficient stocks to meet overall demand.