For the Quarter Ending December 2025
APAC
• In China, the Cephalexin Price Index rose by 0.51% quarter-over-quarter, mildly reflecting post-holiday restocking activity.
• The average Cephalexin price for the quarter was approximately USD 51351.33/MT, reflecting inventory normalization nationally.
• Cephalexin Spot Price firmed slightly as hospitals and formulators replenished stocks amid seasonal respiratory prescriptions.
• Cephalexin Price Forecast shows modest upside into Q1 driven by restocking and supplier inventory management.
• Cephalexin Production Cost Trend remained muted as intermediates and coal-linked utility tariffs held broadly unchanged.
• Cephalexin Demand Outlook improved modestly with year-end tenders and steady export enquiries supporting additional offtake.
• Logistics stability and integrated feedstock supply helped stabilize the Cephalexin Price Index during December shipments.
• Producers maintained high operating rates, enabling shipments and limiting volatility in the Cephalexin Price Index.
Why did the price of Cephalexin change in December 2025 in APAC?
• Export enquiries firmed before year-end tenders, increasing short-term offtake and slightly narrowing spot availability overall.
• Upstream feedstock flows remained uninterrupted and input pricing stable, preventing significant production cost increases during.
• Shanghai port operations and inland logistics normalized, enabling timely shipments and avoiding supply-side disruptions to prices.
Europe
• In Germany, the Cephalexin Price Index rose by 0.5% quarter-over-quarter, due to marginally firmer Indian-origin offers and lean wholesaler inventories.
• The average Cephalexin price for the quarter was approximately USD 55323.33/MT, reflecting marginal firmness across import sources.
• German Cephalexin Spot Price activity stayed narrow, with limited volatility amid steady Asian export flows and logistics relief.
• Cephalexin Price Forecast indicates modest month-to-month gains supported by year-end procurement and controlled supply tightness.
• Cephalexin Production Cost Trend shows upward pressure from feedstock and container handling, partially offset by stable freight rates.
• Cephalexin Demand Outlook remains steady, driven by hospital and outpatient procurement but constrained by rebate-driven purchasing behaviors.
• Cephalexin Price Index movements reflected balanced inventories, efficient Hamburg operations, and mixed currency effects on landed costs.
• Export redistribution to neighbors and absence of disruptions maintained market continuity, keeping offers cautiously firm across the quarter.
Why did the price of Cephalexin change in December 2025 in Europe?
• Marginally higher Indian-origin offers combined with lean wholesaler inventories nudged landed costs higher in December.
• Container booking costs ticked up slightly, increasing delivered cost base despite broadly stable freight rates.
• Statutory rebate ceilings limited pass-through, tempering stronger price increases despite modest supply tightening in Germany.
North America
• In USA, the Cephalexin Price Index rose by 0.62% quarter-over-quarter, procurement and tighter European allocations.
• The average Cephalexin price for the quarter was approximately USD 55375.00/MT, per major distributors' averages.
• Cephalexin Spot Price remained thin as distributors replenished lower inventories, keeping Cephalexin Price Index stable.
• Cephalexin Price Forecast indicates modest upside into early 2026 driven by seasonality and restocking activity.
• Cephalexin Production Cost Trend reflected higher Asian offers for feedstock and freight driving upward pressure.
• Cephalexin Demand Outlook remains broadly constructive with winter prescribing and veterinary restocking underpinning procurement activity.
• Lower trans-Pacific freight and stable currency reduced landed costs, yet Cephalexin Price Index preserved firmness.
• European allocation discipline and four-to-six week lead times tightened offers, influencing Cephalexin Spot Price availability.
Why did the price of Cephalexin change in December 2025 in North America?
• Tighter European export allocations and purchasing increased landed costs, reducing spot cargoes to US importers.
• Freight easing offset offers, but higher Asian feedstock quotations and allocation raised import pricing pressure.
• Steady winter prescription volumes and distributor restocking depleted inventories, supporting modest price gains through December.
For the Quarter Ending September 2025
North America
• In USA, the Cephalexin Price Index rose by 0.15% quarter-over-quarter, reflecting import costs and demand.
• The average Cephalexin price for the quarter was approximately USD 55031.67/MT, per official trade records.
• Elevated freight and currency moves constrained Cephalexin Spot Price while Cephalexin Price Index remained supportive.
• Declining landed costs yet persistent feedstock inflation moderated the Cephalexin Production Cost Trend and margins.
• Cephalexin Demand Outlook shows cautious restocking from API manufacturers due to elevated inventories and uncertainty.
• Short term Cephalexin Price Forecast suggests gradual softening then selective rebounds from year-end procurement activity.
• High domestic stocks depressed the Cephalexin Price Index while export enquiries provided intermittent support periodically.
• Major manufacturer run-rates remained stable, limiting supply shocks and keeping the Cephalexin Price Index rangebound.
Why did the price of Cephalexin change in September 2025 in North America?
• Higher European export offers and freight increases raised landed costs, tightening importer margins, pressuring prices.
• Elevated inventory levels and cautious restocking by downstream API formulators reduced buying urgency, softening demand.
• Currency fluctuations and easing freight rates altered procurement economics, creating mixed incentives across importers nationwide.
APAC
• In China, the Cephalexin Price Index rose by 0.14% quarter-over-quarter, reflecting supply and mixed demand.
• The average Cephalexin price for the quarter was approximately USD 54910.00/MT, reflecting market settlement levels.
• Cephalexin Spot Price eased as suppliers cleared inventories, pressuring offers despite stable production and logistics.
• Cephalexin Price Forecast indicates modest upside later in quarter supported by restocking and seasonal uptick.
• Rising raw material costs altered the Cephalexin Production Cost Trend, constraining price flexibility for exporters.
• Weak overseas orders shaped the Cephalexin Demand Outlook, while domestic pharmaceutical offtake remained comparatively steady.
• High inventories and stock clearance pressured the Cephalexin Price Index, constraining export quotations and margins.
• Stable plant operations and strategic restocking influenced offers, prompting analysts to revise the Cephalexin Price Index trajectory.
Why did the price of Cephalexin change in September 2025 in APAC?
• Production restarts increased availability after shutdowns, raising inventories and moderating spot differentials and export urgency.
• Continued raw material cost pressures and currency shifts influenced supplier margins, sustaining cautious pricing adjustments in September.
• Subdued overseas demand and accelerated domestic stock clearance reduced procurement activity, applying downward pressure on quotations.
Europe
• In Germany, the Cephalexin Price Index rose by 0.15% quarter-over-quarter, reflecting modest import and demand shifts.
• The average Cephalexin price for the quarter was approximately USD 55014.67/MT, according to CFR Hamburg data.
• Cephalexin Spot Price softened in August, pressured by ample inventories and lower Asian export quotations.
• Cephalexin Demand Outlook remained muted as API and healthcare formulators delayed restocking amid cautious procurement behavior.
• Cephalexin Production Cost Trend showed mixed signals with freight inflation offset by declining raw material costs.
• Cephalexin Price Forecast indicates modest volatility into autumn, balancing intermittent restocking against persistent inventory overhangs.
• Cephalexin Price Index movements tracked maritime freight fluctuations and Asian exporters' pricing strategies affecting landed costs.
• Domestic inventories remained elevated, limiting purchase urgency while export demand intermittently supported supplier price resilience.
Why did the price of Cephalexin change in September 2025 in Europe?
• Asian exporters moderated quotations while German buyers retained high inventories, softening procurement and price momentum.
• Freight volatility affected landed costs, creating import economics uncertainty that pressured pricing for German buyers.
• Mixed API and healthcare offtake tempered restocking decisions, limiting immediate buying despite improving manufacturing indicators.
For the Quarter Ending June 2025
North America
• The Cephalexin Price Index in North America increased steadily throughout Q2 2025, supported by firm import costs and consistent downstream pharmaceutical demand.
• Spot Price levels rose over the quarter, with June 2025 assessed at around USD 56,115/MT CFR Houston, reflecting a 1.81% rise compared to May.
• Prices were influenced by higher export offers from Europe, particularly Spain, as well as increased ocean freight charges and currency-driven cost inflation.
• The Cephalexin Production Cost Trend remained elevated due to expensive raw material imports and unfavorable Euro-USD exchange rates that drove up landed costs.
• The Cephalexin Demand Outlook was stable, with sustained offtake from API manufacturers and drug formulation units across the U.S. healthcare sector.
• In July 2025, the Price Index continued its upward trajectory, driven by tightening inventories, firm supplier quotations, and strong procurement from pharmaceutical distributors.
• Why did the price increase in July 2025?
Price gains were led by elevated shipping costs, restocking efforts, and limited spot availability from European suppliers amid stable demand.
• The Cephalexin Price Forecast indicates a potential for further increases into August if freight rates remain high and European production remains constrained.
Europe
• The Cephalexin Price Index in Germany increased consistently throughout Q2 2025, supported by strong pharmaceutical demand and rising landed costs from key supplying countries.
• Spot Price levels moved upward across the quarter, with June 2025 assessed at approximately USD 54,950/MT CFR Hamburg, reflecting a 1.78% increase over May levels.
• Prices were primarily influenced by elevated export offers from India and Spain, as well as rising container freight rates and firm supplier quotations amid tight global availability.
• The Cephalexin Production Cost Trend remained elevated due to higher input prices and unfavorable Euro-USD exchange movements, which inflated import expenses.
• The Cephalexin Demand Outlook remained firm in Germany’s pharmaceutical sector, with steady API and formulation orders driven by consistent prescription volumes and restocking activity.
• In July 2025, the Price Index continued its upward momentum, driven by a combination of strong buyer activity, lean inventory levels, and elevated replacement costs from Asia and Southern Europe.
• Why did the price increase in July 2025?
The uptick was led by robust downstream offtake, rising transportation charges, and reduced exporter allocations amid ongoing production constraints.
• The Cephalexin Price Forecast signals further bullishness through Q3 2025 if logistical tightness persists and Indian and European suppliers maintain firm export pricing.
APAC
• Price Index for June 2025 showed a notable increase in China, reflecting a 1.82% rise in spot price for Cephalexin (USP) FOB Shanghai due to constrained output and low inventories.
• Spot Price remained elevated as seasonal shutdown preparation and earlier production halts tightened supply, pushing suppliers to implement upward pricing.
• Price Forecast for July is expected to show continued firmness due to inventory shortages, export order backlogs, and peak-season manufacturing disruptions.
• Production Cost Trend remained stable; however, suppliers passed through currency-related margin pressures as the US Dollar depreciated against the Chinese Yuan
• Demand Outlook stayed bullish with strong offtake from pharmaceutical buyers both domestically and internationally, particularly in Southeast and South Asia
• The significant price increase was primarily driven by upstream production constraints and reduced material availability during the month.
• Suppliers responded to robust export interest and currency shifts by raising offer levels to maintain profitability amid tightening margins.
• Improved trade environment and streamlined logistics further supported order execution and bolstered pricing power for Chinese exporters.
• Inventory levels remained critically low, pressuring buyers to accept higher rates to secure uninterrupted supply during the transition to Q3 2025.
• Market sentiment in China remained optimistic as steady procurement and internal consumption support policies buoyed long-term price stability.
For the Quarter Ending March 2025
North America
The U.S. Cephalexin market experienced a largely stable but slightly bearish pricing trajectory over Q1 2025, reflecting a combination of well-balanced supply fundamentals, cautious demand, and easing logistics costs. In January, prices inched up by +0.17%, supported by steady pharmaceutical sector performance and predictable procurement patterns. Importers maintained consistent inventory strategies, and minimal shipping disruptions from Asia resulted in negligible cost pressures, sustaining pricing stability in the USP-grade segment.
By February, prices declined by 0.51%, largely due to improved supply availability and a notable reduction in freight costs from China. The 10% U.S. tariff on Chinese imports and China's retaliatory measures created trade uncertainty, prompting importers to scale back procurement volumes. Sluggish demand in the pharmaceutical segment, coupled with weak international offtake for USP-grade material, led to downward pressure on prices as importers sought to manage excess inventory efficiently.
In March, the downward trend persisted with a marginal softening in prices. Lower landed costs from reduced Chinese export prices and sustained freight deflation allowed for more competitive domestic pricing. Inventory levels remained healthy, and while baseline pharmaceutical demand held steady, subdued industrial output and ongoing tariff-related uncertainty curbed aggressive purchasing. Overall, Q1 closed with a modest decline in Cephalexin prices in North America, shaped by stable supply, cautious demand, and reduced input and logistics costs.
Asia Pacific
In Q1 2025, the Chinese Cephalexin market exhibited a gradual shift from initial firmness in January to sustained softness by March. January saw a price increase of +0.86%, supported by steady domestic and international demand for USP-grade material, efficient production cycles, and well-managed raw material costs. Producers benefitted from consistent orders aligned with essential medicine programs, even as logistics disruptions from blanked sailings created temporary delivery uncertainties. Strong compliance with GMP standards and optimized facility utilization contributed to price stability.
February marked the beginning of a bearish turn, as oversupply conditions emerged due to elevated inventory levels and subdued export demand. The U.S. imposition of a 10% tariff on Chinese products created global buying uncertainty, prompting cautious procurement and discount-driven selling to manage excess stock. While the post-holiday industrial recovery lifted China's PMI to 50.2, increased pharmaceutical output outpaced demand, contributing to price declines.
March extended this downward trajectory. Accelerated manufacturing activity and softening input costs, combined with continued deflation and rising inventories, weakened pricing power. Export volumes faced limitations amid trade tensions, and domestic demand remained muted despite early signs of economic recovery. Overall, the quarter ended with an oversupplied and deflationary environment weighing on Cephalexin prices across Asia.
Europe
The German Cephalexin market showed mixed pricing behavior over Q1 2025, reflecting the interplay between proactive early-quarter procurement and mounting mid-to-late quarter bearish pressures. January recorded a slight price increase of 0.25%, as European pharmaceutical buyers advanced purchases to mitigate expected Lunar New Year supply disruptions from Asia. This led to a stable pricing environment, supported by consistent inquiry levels and steady production outputs. Elevated freight costs and tight vessel availability also lent mild upward pressure to prices.
However, by February, the market weakened. High inventory levels from earlier stockpiling, softer industrial activity, and a reduction in freight costs from China caused prices to decline. Suppliers responded by offering discounts to clear excess stock, while buyers adopted a cautious, need-based procurement strategy amid economic headwinds. A depreciating euro and rising inflation added to cost burdens, restraining demand further.
March continued the downtrend, as oversupply conditions persisted. Sharp drops in Chinese export prices, along with global trade tensions and weak downstream demand, reinforced bearish sentiment. Although declining freight rates offered some relief, the overall market tone remained subdued. Across the quarter, Germany’s Cephalexin market transitioned from early strategic stability to sustained softness, driven by ample supply, reduced imports costs, and weak pharmaceutical offtake.
