For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. Aspirin market experienced fluctuations driven by a mix of economic factors and market dynamics. October saw a decline in prices, primarily due to economic uncertainty, inflation concerns, and weakened consumer demand. The hesitation from businesses and consumers, coupled with external disruptions like hurricanes and strikes, led to lower prices to stimulate sales.
In November, prices continued to decrease as demand softened further, with reduced inflationary pressures and the appreciation of the U.S. dollar making imports cheaper. The resolution of supply chain disruptions, combined with healthy inventories, helped maintain stable prices, while a drop in Salicylic acid prices also supported the downward trend.
However, December marked a rebound in Aspirin prices, driven by strong demand, proactive purchasing, and the easing of interest rates, which boosted consumer confidence. The fear of supply disruptions, such as potential strikes and tariffs on Chinese imports, led to increased stockpiling, further driving prices up as businesses prepared for potential cost surges. Overall, Q4 saw a dynamic shift in prices, beginning with a decline, followed by stabilization, and ending with a notable increase. As of the end of Q4, Aspirin was priced at USD 2820 per metric ton (USP, FDA) CFR Los Angeles.
Asia Pacific
In Q4 2024, Aspirin prices in China saw notable volatility, shaped by various market dynamics. October saw a price decline, driven by weak domestic demand, excess supply, and heightened competition among suppliers. External geopolitical uncertainties, particularly related to the U.S. elections and rising protectionist policies, further dampened international demand, intensifying the downward pressure. In November, the trend continued due to sluggish domestic demand, high distributor inventories, and weak global sales, compounded by tariff concerns. Falling raw material and crude oil prices contributed to reduced production costs, allowing suppliers to adjust prices downward. However, December marked a shift with prices rising sharply, fueled by strong demand in the pharmaceutical and healthcare sectors. Proactive stockpiling ahead of the Chinese Lunar New Year and a weaker yuan, which made exports more competitive, further stimulated the market. In summary, the Q4 market saw a significant drop followed by a rebound, driven by shifting domestic demand, export activity, and production cost adjustments. By the end of Q4, Aspirin was priced at USD 2500 per metric ton in China.
Europe
In Q4 2024, the Aspirin market in Germany experienced fluctuating price trends influenced by various economic and logistical factors. In October, prices declined due to weak consumer demand, driven by inflation concerns, and reduced shipping costs as Asia-Europe routes saw a 60% drop in container prices. Businesses adjusted their logistics, maintaining adequate supply levels, which helped stabilize prices. Furthermore, the decrease in salicylic acid prices supported the downward trend.
In November, the price decline continued as weak demand and fading inflation concerns persisted. Germany’s economic downturn, alongside a 1.9% reduction in energy prices, further contributed to subdued price pressures. Well-maintained inventories allowed suppliers to offer more competitive rates, reinforcing the downward trend.
December saw a price rise as demand from key sectors, coupled with supply chain challenges ahead of the Chinese Lunar New Year, fueled upward pressure. The weakening Euro and congestion at European ports added to the cost burden, leading to higher prices for Aspirin. The quarter was marked by a mix of price reductions followed by increases driven by demand and logistical constraints. By the end of Q4, Aspirin was priced at USD 2750 per metric ton (USP, FDA) CFR Hamburg.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American region experienced a significant uptrend in Aspirin pricing, with the USA exhibiting the most pronounced changes. A multitude of factors influenced this market dynamic, including robust consumer demand driven by economic optimism, supply chain disruptions, such as port congestion and shipping delays, and proactive inventory management strategies employed by market participants.
These dynamics culminated in a remarkable 13% price increase from the previous quarter, with a notable 12% price variance observed between the first and second halves of the quarter. Despite ongoing challenges, such as disruptions at overseas ports and the looming threat of impending tariffs, the pricing environment for Aspirin remained decidedly positive. Market sentiment was largely skewed towards an upward trajectory, reflecting confidence among buyers and sellers alike.
By the end of the quarter, the price of Aspirin reached USD 3,380 per metric ton in the USA, underscoring the culmination of a quarter marked by bullish pricing trends. Overall, Q3 2024 demonstrated a resilient market characterized by rising prices and heightened activity, supported by a combination of demand-side optimism and persistent logistical challenges.
Asia Pacific
Throughout Q3 2024, the Aspirin market in the APAC region witnessed a pronounced trend of increasing prices. Several significant factors contributed to this shift. Robust demand both domestically and internationally played a key role, with manufacturers struggling to meet the surge in orders. Additionally, logistical disruptions, geopolitical uncertainties, and increasing input costs further propelled prices upwards. The market in China, experiencing the most substantial price changes, reflected these overall trends. As the largest player in the region, China's market dynamics heavily influenced APAC pricing. Seasonal variations and a strong correlation in price changes were observed, with a noticeable 5% increase from the previous quarter. The comparison between the first and second half of the quarter revealed a substantial 14% price difference, highlighting the dynamic nature of the market. Noteworthy disruptions such as severe weather events and production challenges were reported. The quarter concluded with Aspirin priced at USD 2835/MT FOB Shanghai, indicating a consistently positive pricing environment driven by escalating demand and market conditions.
Europe
Throughout Q3 2024, the pricing environment for Aspirin in Europe has been characterized by a significant uptrend, driven by multiple key factors. The market has experienced notable price increases, particularly in Germany, where prices saw the highest fluctuations. Demand for Aspirin remained robust, supported by improved consumer sentiment and proactive inventory stockpiling by businesses amidst supply chain disruptions caused by global shipping challenges, including the Red Sea crisis. Additionally, the easing of inflation in the region and the European Central Bank's interest rate adjustments have indirectly contributed to the upward pressure on prices. The correlation in price changes between the first and second half of the quarter was evident, with a recorded 12% increase. This trend reflects the ongoing challenges and uncertainties in the global supply chain, leading to constrained availability and heightened competition among buyers. As a result, the quarter-ending price for Aspirin (Acetylsalicylic Acid) (USP, FDA) CFR Hamburg in Germany stood at USD 3135/MT, marking a substantial increase from the previous quarter and the same period last year.
For the Quarter Ending June 2024
North America
During Q2 2024, the North American Aspirin market experienced a notable upward trajectory in pricing, driven by a confluence of significant factors that exerted upward pressure on market prices.
Firstly, an unanticipated surge in consumer confidence led to increased consumption of pharmaceutical products, further intensifying demand for Aspirin. This demand was bolstered by the early onset of the peak season, compelling suppliers to stockpile inventory in anticipation of potential market disruptions. Additionally, logistical challenges, particularly in the Red Sea region, adversely impacted shipping routes, resulting in delays and elevated transportation costs. These logistical constraints were compounded by increased sailing speeds to mitigate delays, which in turn raised fuel costs and charter rates.
Moreover, the specter of potential disruptions from geopolitical tensions prompted companies to brace themselves by augmenting their inventories, further straining supply chains. Focusing on the USA, which witnessed the most pronounced price changes, the overall trend showcased a robust increase in Aspirin prices, reflecting both seasonality and intensified demand.
Overall, the price escalation recorded a 1% increase from the previous quarter, underscoring the progressive pricing trend. The quarter culminated with a settlement price of USD 2840/MT for Aspirin (Acetylsalicylic Acid), signaling a positive pricing environment, marking Q2 2024 as a period characterized by significant price inflation and a bullish market sentiment.
APAC
In Q2 2024, the APAC region saw remarkable stability in Aspirin pricing, a testament to a well-balanced market environment. This stability was underpinned by a steady demand from both domestic and international markets, which kept prices relatively unchanged. Key factors contributing to this stability included consistent manufacturing output, moderate fluctuations in raw material costs, and higher transportation expenses. China, a significant player in this market, exhibited the most notable price changes within the region. The rise in demand was driven by growing market confidence, led to heightened consumer demand as consumers sought to purchase the medication before prices potentially rose further. Additionally, the devaluation of the Chinese yuan against the USD made exports more appealing to international buyers, thus increasing demand in overseas markets. Furthermore, the easing of tensions in the Middle East during the latter part of the month likely played a role in the surge in shipments and demand, as it created a more stable trading environment. While on the supply side, traders continued to grapple with insufficient inventories with respect to the inquiries arriving from the end-users. As a result, the Manufacturers responded to this heightened demand by ramping up their production levels, but despite their efforts, the supply could not match the pace of demand. Additionally, the increase in production costs, due to factors such as raw material costs and increased operational expenses, have hindered manufacturers' ability to scale up production further, contributing to the low supply. Compared to the previous quarter, the 1% price change highlights the sustained stability in the market. This period of stability in Aspirin pricing in the APAC region suggests a robust market environment, resilient to external shocks and capable of maintaining equilibrium through consistent production and demand patterns. The latest quarter-ending price for Aspirin (Acetylsalicylic Acid) in China was USD 2490/MT, affirming the stable sentiment prevalent throughout Q2 2024.
Europe
In Q2 2024, Aspirin prices in Europe experienced a notable upward trajectory, driven by a confluence of factors. The quarter was marked by heightened demand across the region, propelled by robust economic growth and unexpectedly strong consumer activity. Businesses, having previously scaled back inventories due to economic uncertainties, found themselves urgently restocking, further intensifying demand pressures. Compounding the scenario were significant logistical challenges, including severe port congestion in key Asian hubs and North European terminals, as well as geopolitical disruptions like the Red Sea crisis. The increase in shipping costs and delays exacerbated the supply constraints. Additionally, the cost of Salicylic acid, a critical raw material, surged, directly influencing the price of Aspirin. Focusing on Germany, the market saw the most pronounced price changes. The German economy's resurgence bolstered business confidence, leading to a sharp rise in demand for Aspirin. The accelerated depletion of inventories, driven by higher-than-expected consumer demand, added to the pricing pressure. Seasonality also played a role, with increased medical needs during transitional weather periods. The correlation between supply chain disruptions and price hikes was evident, as logistical bottlenecks led to increased operational costs. Compared to the same quarter last year, prices surged by a significant margin, highlighting the robust market dynamics. From the previous quarter, prices recorded a 3% increase overall, seeing a marked rise due to sustained demand and supply constraints. The latest quarter-ending price stood at USD 2725/MT of Aspirin (Acetylsalicylic Acid), underscoring a bullish pricing environment that remained positive throughout the quarter.
For the Quarter Ending March 2024
North America
During Q1 2024, the pricing dynamics of Aspirin in North America, particularly in the USA market, were influenced by various factors beyond the conventional top three influences. The overall trend in the market was characterized by a nuanced examination of the drivers behind price fluctuations. The market situation in the USA played a pivotal role in shaping the pricing landscape, with fluctuations in response to factors such as economic uncertainty, inflationary pressure, and seasonality.
At the start of the quarter, prices dropped to $2760 per MT as a result of economic uncertainty, leading consumers to be more cautious with their spending. Market dynamics were also affected by pharmaceutical firms stocking up inventory before the New Year. However, prices rebounded in the middle of the month due to factors such as constrained warehousing capacity, disruptions in vital maritime routes, and the influence of the spring festival in China. Nevertheless, prices dipped once more at the end of the quarter in March, driven by a downturn in business sentiment, inventory accumulation, and cost-saving measures implemented by pharmaceutical companies.
Overall, the pricing trend for Aspirin in Q1 2024 exhibited a mix of upward and downward movements, influenced by supply and demand dynamics, market sentiment, and external factors. Comparing the prices in Q1 2024 to the same quarter last year showed a decrease in prices, reflecting market fluctuations and changing economic conditions. The final quarter's price for Aspirin (Acetylsalicylic Acid) (USP, FDA) CFR Los Angeles in the USA was $2715 per MT.
Asia Pacific
In Q1 2024, the pricing dynamics of Aspirin in the APAC region were influenced by a multitude of factors beyond the conventional top three influences. The overall trend in pricing for Aspirin in China, where price fluctuations were most pronounced, was characterized by a decline in prices. This downward trend was driven by reduced inquiries and orders from key end-user industries such as healthcare and pharmaceuticals. The closure of numerous companies during the Spring Festival, a significant holiday period in China, led to a decrease in overall demand and an oversupply in the market. The manufacturing sector in China faced its fifth consecutive month of contraction, reflecting weak demand and posing challenges for the export-oriented manufacturing sector. Additionally, a global economic slowdown further reduced demand for Chinese goods abroad. The surplus supply of Aspirin can be attributed to existing inventory buildup, proactive inventory management by manufacturers, and disruptions in the global supply chain. On the demand side, sluggish consumer spending and cautious purchasing behavior due to economic uncertainties played a role in reducing demand for Aspirin. Compared to the same quarter last year, there was a decline in prices, reflecting the challenging market conditions. The final quarter's price for Aspirin (Acetylsalicylic Acid) (USP, FDA) FOB Shanghai in China was USD 2450/MT.
Europe
In the first quarter of 2024, the pricing trends of Aspirin in the European region were shaped by a multitude of factors. Throughout the quarter, prices experienced a decline, primarily driven by weakened consumer sentiments in downstream sectors, resulting in an oversupply situation within the domestic market. Additionally, there was a notable decrease in new orders, particularly within the domestic market, exacerbating the downward trend. This situation was further intensified by the anticipation of increased demand surrounding the Chinese lunar year, prompting market participants to increase their inventories, inadvertently leading to an oversupply scenario and subsequent price depreciation. Adding to the complexity of market dynamics, the decision of the central bank to maintain interest rates at current levels placed additional pressure on consumers, limiting their purchasing power and perpetuating a subdued demand environment. As the quarter progressed, prices continued to decline, attributed in part to the decrease in freight rates observed amidst the shipping industry's efforts to navigate tensions in the Red Sea region. This reduction in freight rates translated to lower transportation costs, consequently contributing to an overall reduction in the cost structure of pharmaceutical companies. The final price for Aspirin (Acetylsalicylic Acid) (USP, FDA) CFR Hamburg in Germany was USD 2600/MT.
