Doxepin Hydrochloride Prices Revamped in January 2023

The prices of Doxepin Hydrochloride improved during the month of January 2023 throughout the global market, and certain factors, such as consumer demand, ease in inflation, raised quotation, etc., supported this price trend. The pharmaceutical sector depends on China for the availability of Active Pharmaceutical Ingredients (APIs), whereas the country was hit by the covid again in November 2022. Therefore, the cost of APIs, including Doxepin Hydrochloride, will become costlier by December 2022 amid possible supply disruptions that may squeeze supplies and margins and raise finished product prices.

According to the official National Bureau of Statistics (NBS), the Manufacturing PMI of China unexpectedly increased to 50.1 in January 2023 from 47.0 a month before, which showed the first development in the sector since September last year. New orders rebounded, with export sales falling at a softer rate, while the output rate increased slightly. Also, buying activity for Doxepin Hydrochloride grew with the pace of the rise in customer interest, which positively supported the improved market trend of this API. However, supplies for Doxepin Hydrochloride became difficult during the last weeks of January 2023 due to the Chinese New Year, which started on 22nd January 2023 and would lead to a temporary closure of manufacturing API and a shortage of Labour.

Germany and the United States witnessed a similar trend for Doxepin Hydrochloride. Germany's Consumer Price Index (CPI) went up 1% compared to the previous month, reversing a 0.8% decrease in December. Meanwhile, energy prices have eased to some extent in January compared with December 2022. A bearish trend throughout December in the wake of low end-user demand, continuous geopolitical tension between Russia-Ukraine, and weak market fundamentals for Doxepin Hydrochloride in Germany and the United States local market led the merchant to have higher stockpiles. Towards the start of 2023, as the inquiries from the domestic market for Doxepin Hydrochloride surged, distributors and traders increased their market prices to destock the inventories and place newer orders.

According to ChemAnalyst, Doxepin Hydrochloride prices are projected to remain on the upper end in the global (German and the United States) market. Downstream demands are expected to support the consistent surge in its prices. Besides this, the local markets will focus on refiling their stock levels, reflecting a favorable market outlook for Doxepin Hydrochloride.