For the Quarter Ending September 2024
North America
In Q3 2024, the North American market for Metformin HCL experienced a fluctuating pricing landscape, with an initial upward trajectory followed by a notable decline as the quarter progressed. Prices rose in July, driven by key factors including improved consumer optimism regarding economic and business conditions. This positive sentiment boosted market activity and contributed to an increase in Metformin HCL prices. Additionally, supply chain disruptions due to blank sailings caused by severe port congestion in both Asia and North America, with rerouting through the Cape of Good Hope (COGH), further tightened supply, adding upward pressure on prices.
However, the pricing environment shifted considerably in August and September. A sharp drop in demand, one of the most significant declines seen in recent months, led to a change in market dynamics. In response, many market participants lowered prices in an attempt to boost sales, accelerating the downward price trend. Additionally, inflation rates eased due to falling energy prices, which helped reduce overall business overheads. This reduction in costs allowed companies to pass savings on to consumers, further driving down Metformin HCL prices.
The USA saw the most significant price fluctuations, reflecting the broader trends in the North American market, with pronounced volatility throughout the quarter as businesses adapted to shifting demand and economic conditions.
Asia Pacific
In Q3 2024, the pricing landscape for Metformin HCL in the APAC region showcased a fluctuating trend, marked by initial price increases followed by significant declines. Early in the quarter, prices surged, primarily driven by strong global demand. This increase was particularly fueled by robust export activities from Asia to major markets such as North America and Europe. In anticipation of potential shortages, foreign importers adopted precautionary strategies, placing larger orders, which further propelled the upward momentum in prices. However, as the quarter advanced into August and September, Metformin HCL prices began to experience a notable downturn. This decline was largely attributed to weakening demand, as evidenced by a sluggish pace of exports and decreasing prices that indicated a broader loss of economic momentum across the region. The situation was further complicated by the implementation of anti-dumping measures by key markets, including the USA, Europe, and India, which adversely impacted overall demand for Metformin HCL in the APAC region. These factors combined to create a challenging pricing environment, highlighting the sensitive interplay between supply and demand dynamics in the market.
Europe
Throughout Q3 2024, the pricing landscape for Metformin HCL in the European market demonstrated a mixed trend, particularly affecting Germany, which emerged as the most significantly impacted region. In July, Metformin HCL prices rose, driven by strong consumer sentiment and increased purchasing activity. This surge aligned with peak seasonal demand and was further intensified by persistent capacity constraints and logistical hurdles, especially related to congestion in the Red Sea region. These issues significantly affected shipping costs and spot rates, contributing to the upward price movement. However, as the quarter progressed into August and September, the pricing trend shifted. Several key factors converged to exert downward pressure on prices. The overall economic environment in Europe faced challenges that weakened consumer sentiment, leading to a decrease in domestic demand for pharmaceuticals, including Metformin HCL. Additionally, a notable decline in inflation rates, coupled with falling energy prices and favorable base effects, helped ease pricing pressures across the market. These developments contributed to reduced costs for imported Metformin HCL, prompting suppliers to lower their prices in response to the shifting market dynamics.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American market for Metformin HCL experienced a varied pricing pattern, driven by a range of factors affecting the pharmaceutical sector. The USA, which saw the most notable price fluctuations, experienced an unstable pricing environment with significant variations throughout the quarter.
Prices initially increased in April, fueled by rising domestic demand. Consumers, despite facing cost fatigue, remained inclined to spend, as evidenced by stronger retail sales that boosted demand for Metformin HCL. Additionally, shipping disruptions in the Red Sea region necessitated longer transit times and faster sailing speeds to mitigate delays. These adjustments led to higher fuel costs and increased charter rates, while operational bottlenecks further strained shipping capacity, contributing to the price hikes.
Nevertheless, prices fell in May and June due to a decline in business sentiment, which created economic uncertainty. This drop in confidence affected the pharmaceutical and healthcare sectors, leading to a decrease in demand for Metformin HCL. The downturn in economic outlook contributed to a more subdued market for the drug during the latter part of the quarter.
Asia Pacific
In Q2 2024, the Metformin HCL pricing landscape in the APAC region showed varied trends due to a range of influential factors. Early in the quarter, prices rose, bolstered by improved market confidence relative to previous data. The manufacturing sector was in a growth phase, fueled by a surge in both domestic and international demand, which accelerated output growth. Manufacturers responded to this demand by increasing production levels to capitalize on the influx of new orders.However, in May and June, prices fell due to an oversupply resulting from expanded manufacturing capacities that exceeded current demand. Additionally, reduced production costs, driven by falling raw material prices and lower transportation expenses, allowed manufacturers to lower their prices. External demand remained weak as key export markets faced high interest rates, which dampened consumer spending on pharmaceutical products. Overall, the market sentiment remained negative, with the pricing environment struggling to stabilize amidst these challenges. The combination of these factors created a complex and fluctuating pricing landscape for Metformin HCL in the APAC region during the second quarter of 2024.
Europe
In Q2 2024, the European market for Metformin HCL experienced a mixed pricing trajectory, shaped by several influential factors. Early in the quarter, prices increased as consumer spending improved, which led to heightened demand for various commodities, including Metformin HCL. This boost in demand initially pushed prices up. However, businesses operating in this optimistic economic environment faced rising supply chain costs due to escalating wages and high energy prices, which were reflected in the higher costs for goods like Metformin HCL. By May and June, the pricing dynamics shifted as several factors led to a decline in prices. Sluggish consumer demand, combined with an overstocked market, created downward pressure on prices. Additionally, falling freight rates contributed to the price reduction. The central bank's decision to keep interest rates unchanged added financial strain on consumers, further suppressing purchasing activity and dampening demand. Despite occasional disruptions in the global supply chain, such as port congestions in Asia and Northern Europe and adverse weather conditions, there were improvements due to easing geopolitical tensions and seasonal increases in cargo volumes. These factors contributed to reduced transportation costs, which in turn drove prices down further for Metformin HCL.
For the Quarter Ending March 2024
North America
In Q1 2024, the pricing of Metformin HCL in the North America region underwent significant fluctuations influenced by various factors. Despite these fluctuations, the overall pricing environment for Metformin HCL remained positive, with prices experiencing a continuous increase throughout the quarter. A primary driver behind these market fluctuations was the heightened demand from downstream industries, particularly pharmaceuticals and healthcare. Increased buying activity in these sectors exerted upward pressure on Metformin HCL prices.
Additionally, the spring festival in China prompted proactive inventory replenishment by market retailers and distributors, further boosting demand for the drug. On the supply side, challenges in transportation logistics due to adverse weather conditions and disruptions at vital shipping chokepoints constrained the supply chain, exacerbating the upward pressure on prices. In response to potential shortages, market players were placing large orders for Metformin HCL to ensure supply continuity and preempt delays, further fueling demand and pushing prices higher.
Overall, the pricing environment for Metformin HCL in Q1 2024 was characterized by positivity, albeit with fluctuations driven by changes in demand and supply dynamics.
Asia Pacific
In Q1 2024, the pricing of Metformin HCL in the APAC region experienced significant fluctuations influenced by various factors, leading to notable price changes. Overall, the market sentiment was positive, with prices showing a consistent incline throughout the quarter. This positive momentum marked a significant turnaround from the challenges faced in the fourth quarter of 2023. Starting from January 2024, there was a steady rise in demand, which continued to gain momentum through March, signaling a recovery in market sentiment. The first quarter of 2024 witnessed marked improvement, characterized by rising prices, indicating a more balanced relationship between supply and demand. This upward trend allowed participants in the Chinese market to maintain healthy profit margins throughout the quarter. Even during the Lunar Chinese New Year holidays, the domestic Metformin HCL market remained vibrant, supported by robust manufacturing activities and the availability of fresh inventory. Furthermore, the global demand for Metformin HCL, particularly from the pharmaceutical and other sectors, added complexity to the supply-demand dynamics, further influencing market trends. As the quarter draws to a close, the latest recorded price for Metformin HCL (USP, FDA) FOB Shanghai in China stands at USD 6000 per metric ton.
Europe
During Q1 2024, the pricing of Metformin HCL in the European region, notably in Germany, underwent significant fluctuations driven by various factors shaping the market dynamics. Germany, in particular, witnessed substantial price changes for Metformin HCL during this period. In January, prices surged amidst a nuanced interplay of geopolitical tensions, logistical challenges, and diminishing inventories. Despite these hurdles, downstream industries maintained consistent operational activities, fostering a steady demand for Metformin HCL and consequently driving prices upward. Additionally, the onset of the Chinese New Year festivities in mid-February prompted many Chinese suppliers to adjust their prices ahead of the market slowdown during the holiday period. Concurrently, prolonged disruptions in the Red Sea further complicated trade routes between Asia and Europe, resulting in escalated freight costs that influenced the pricing landscape of Metformin HCL in Germany. Moreover, the moderation of inflation in Germany spurred heightened spending by businesses and consumers, contributing to further price hikes. Looking ahead, the market outlook remains optimistic, with prices anticipated to continue increasing. In conclusion, the quarter-ending price for Metformin HCL in Germany stood at USD 5380 per metric ton CFR Hamburg, reflecting the culmination of these market dynamics.
For the Quarter Ending December 2023
North America
The North American Metformin HCL market encountered difficulties throughout the fourth quarter of 2023, characterized by significant fluctuations. Initially, there was a notable price decline at the quarter's commencement, succeeded by an increase in November and December. Influential factors included elevated interest rates, trading activities, and seasonal influences, all contributing to the dynamic market conditions.
Zooming in on the United States, Metformin HCL prices experienced a substantial decrease in October. This aligns with subdued domestic demand and abundant inventories held by market merchants. The overall expansion of new orders was minimal, accompanied by a continued decline in new international sales. The strength of the dollar against foreign currencies facilitated more affordable imports, ensuring a plentiful supply in the domestic USA market and contributing to a further reduction in prices.
Subsequently, prices rebounded, primarily fueled by robust consumer spending and an increase in consumer confidence, despite the prevailing higher interest rates. The decline in inflation and lower gas prices alleviated some of the burden of price increases for consumers, resulting in an overall surge in demand and subsequently higher prices for Metformin HCL.
APAC
The APAC region experienced a varied market scenario for Metformin HCL during the fourth quarter of 2023, shaped by two key influencing factors. Firstly, a notable lack of sufficient domestic production capacity in countries like South Korea resulted in a heavy dependence on imports, rendering the market susceptible to global price fluctuations. Secondly, the moderation of inflation provided relief to consumers, alleviating their financial burden and contributing to an uptick in demand. In the context of South Korea, Metformin HCL prices declined in October due to sustained low demand from end-user industries and ample inventory levels in the market. However, prices rebounded in November, driven by growing domestic consumption and the replenishment of inventories. Nevertheless, prices for Metformin Hydrochloride experienced another decrease in December, attributed to subdued domestic demand persisting amid high interest rates. This caution among consumers about spending contributed to a decline in prices during this period. Overall, the fourth quarter of 2023 witnessed a mixed market for Metformin HCL in the APAC region, with South Korea experiencing a decline in prices followed by an increase in the last month of the quarter.
Europe
The Metformin HCL market in Europe during the fourth quarter of 2023 was characterized by various factors that influenced prices. Firstly, the overall market sentiment remained subdued, primarily due to persistently high inflation and weaker demand from end-user sectors. This resulted in a decline in consumer confidence and limited purchasing power. Additionally, the implementation of higher interest rates by the European Central Bank further curtailed market demand and kept prices on the lower side. Furthermore, the availability of ample supply in the market contributed to the downward pressure on prices. Germany, in particular, experienced a decline in Metformin HCL prices in October during this quarter. The country faced challenges such as a weakening industrial sector, sluggish demand, and declining output. Germany also witnessed a decline in consumer inflation, which further strained purchasing capabilities. These factors led to a decrease in prices as market providers sought to clear out their inventories. Although, prices surged again in November and December, driven by improved consumer sentiments as the year concluded, despite prevailing economic uncertainties. One of the primary reasons for this was recent disruptions in the global supply chain of Metformin Hydrochloride, leading to limited availability. This scarcity prompted market players to raise prices in order to make profit. The Metformin HCL price in Germany at the end of the fourth quarter of 2023 was USD 4200/MT (CFR Hamburg).
For the Quarter Ending September 2023
North America
The prices of Metformin HCL experienced a consistent decrease during the third quarter of 2023. The third quarter witnessed a deceleration in the growth of US business operations as a result of reduced demand from both local and global markets. In the United States, inflation rose to 3.7% in August for the first time since June 2022, as a sharp increase in energy prices pushed prices higher toward the end of the summer, weighing on consumer confidence even more. Inflationary pressures indicate that the US economy is drifting further away from the Federal Reserve's 2% target rate, prompting officials to consider raising interest rates later this year. The Federal Reserve raised its key policy interest rate in July by 0.25 percent, the eleventh time in 17 months, to confront persistent inflation in the US economy, resulting in decreasing market demand. In September, rising gasoline costs and high-interest rates further contributed to increased economic uncertainty and lowered consumer confidence. Manufacturers reported a further decline in new orders, with the rate of contraction being the fastest, contributing to the negative trend. As a consequence of this, businesses have been compelled to sell off their accumulated inventory and stock in order to sustain profitability.
Asia Pacific
In September 2023, there was a gradual decline of 1.81 percent in the prices of Metformin HCL in China when compared to the values in July. The vibrant Chinese economy encountered novel hurdles and challenges, leading to a deceleration in its economic impetus. The official manufacturing PMI (Purchasing Managers' Index) stood at 49.3 in July, according to the National Bureau of Statistics (NBS). However, this figure stayed below 50, indicating shrinkage rather than expansion. Business operations and production activities have experienced a significant decrease due to a decline in international orders and sales. Furthermore, the prevailing inflationary pressures and escalating interest rates across the United States, Europe, and key export markets have further dampened Chinese demand. This is evident from the sustained decrease in the new export order sub-index, with August marking the sixth consecutive month of decline. In September, China's manufacturing purchasing managers' index (PMI) was 50.2, returning to the expansion zone. This data shows that market demand in the manufacturing sector has gradually improved, and company operations have risen at a quicker rate. However, sluggish foreign demand continued to weigh on the outlook even as output grew, which maintained the Metformin HCL market on the weaker side. With the termination of Q3, the prices settled at USD 5155/MT USP FOB Shanghai.
Europe
In Germany, the prices of Metformin HCL have experienced a downward trend since the start of the third quarter, with a 2.40% decrease observed in September. The purchasing managers' index (PMI) in Germany stood at 41 in July, suggesting a persistent decrease in fresh orders from both local and global markets amid sufficient stocks available among market participants. Additionally, the month of August witnessed a sustained lack of confidence among consumers due to the consistent increase in interest rates, soaring inflation, the prevailing energy crisis, and the intricacies of geopolitical affairs. The persistent surge in inflation, primarily driven by the exorbitant prices of energy resources and oil, had a detrimental impact on the purchasing power of consumers and further contributed to the downward trajectory of Metformin HCL prices. Germany's industrial sector, which accounts for around one-fifth of the country's economy, remained in a slump in September owing to sluggish demand and quickly declining output, which also led to a drop in Metformin HCL prices. The European Central Bank agreed to increase interest rates for the tenth time in a row in September to combat stubborn inflation, which has further kept market demand on the lower side and supported the downward trajectory. With the termination of Q3, the prices settled at USD 3665/MT USP CFR Hamburg.
For the Quarter Ending June 2023
North America
In the US, Metformin HCL prices showed a mixed trend in the second quarter. The manufacturing PMI (Purchasing managers' Index) settled at 48.4 in May, reflecting a slowdown in the US manufacturing sector. This indicates that supply from manufacturers and suppliers has been restricted due to the decline in business activity. However, consumer demand remained strong, resulting in metformin HCL prices rising in May. In addition, prices were reduced in June compared to the previous month. Manufacturing PMI fell to 46.3 in June from 48.4 in May, suggesting weaker demand from end-user healthcare and pharmaceutical industries with a decline in purchasing activity and new orders inquiries, leading to a decline in Metformin HCL prices. The consumer price index (CPI), a measure of inflation, rose only 0.2% in June compared to 0.1% in May, suggesting that high-interest rates by US Federal Reserve slowed inflation in June, resulting in lower demand for Metformin HCL in the US market. This further added downward pressure on Metformin HCL prices.
Asia Pacific
In China, metformin HCL prices decreased slightly in April by 0.39% due to decreased demand from end-user healthcare and pharmaceutical industries coupled with sufficient supply among market providers. But the prices of Metformin HCL increased in May by 0.97% from April. The official manufacturing purchasing managers' Index (PMI) dropped to 48.8 in May from 49.2 in April. This indicates that factory activity decreased due to operational activity leading to a high cost of production, resulting in increased prices of metformin HCL in May. Furthermore, the PMI values were settled at 49 in June, compared to 48.8 in May, suggesting weaker demand from end-consumers with declining purchases, export sales, and new orders. Moreover, the Chinese yuan depreciated against the US dollar in June, suggesting that declining consumer confidence is slowing China's post-pandemic recovery. Also, Russia's invasion of Ukraine continued to hamper exporters and disrupt supply chains. This increased supply in the Chinese domestic market, further increasing downward pressure on prices. Market vendors focused on reducing inventories to maintain profit margins.
Europe
The metformin HCL price in June fell 4.21% from its April level. Low purchasing activity and ample inventories in the German market, among other factors, contributed to this decline. In Germany, the manufacturing PMI (Purchasing Managers Index) for June 2023 fell to 41 from 43.2 in May and 44.5 in April, indicating a slump in manufacturing due to the impact of the COVID-19 pandemic. Weak end-user demand led to a more rapid decline in new orders. According to the Federal Statistical Office, inflation, as measured by the CPI (Consumer Price Index), rose to 6.4% in June, representing a rise of 0.2% compared to May. This has increased food and energy prices. The European Central Bank raised interest rates to keep inflation down, resulting in lower consumer demand. Also, the appreciation of the euro against the US dollar has made imports cheaper and increased the availability of metformin HCL in the German market. This gap between supply and demand had put downward pressure on metformin HCL prices.
For the Quarter Ending March 2023
North America
Metformin Hydrochloride prices followed the trend of Asia Pacific in the first quarter of 2023. However, prices continued to rise until February before commencing to decline at the same rate as the first quarter of 2023 came to an end in March. Up until February 2023, the price of Metformin Hydrochloride inclined due to an increase in domestic demand and tight supply among market players. Consumer demand showed a weaker trend by the end of the first quarter, which caused traders and local suppliers to concentrate on placing orders in accordance with necessities. Also contributing to the downward trend in the market for Metformin Hydrochloride is a slowdown in trade activity.
Asia Pacific
Throughout the first quarter of 2023, Metformin Hydrochloride prices showed an inclined market trend. Early in January, the market sentiments in China, which had a holiday-shortened month January, started to improve somewhat. This was primarily due to better demand after the Lunar New Year, as both consumption and production significantly increased after the government abandoned its zero-COVID policy. Up to the middle of the first quarter of 2023, increased local demand and inquiries from the overseas market helped to support the overall market trend for metformin hydrochloride. In contrast, as March 2023 got underway, the price of Metformin Hydrochloride started to reduce steadily, which was helped by a decline in domestic demand from downstream industries as well as ample stocks that could fulfill the total needs. This has an impact on the cost of Metformin Hydrochloride, which got stabilized at USD 5150/MT in China.
Europe
Metformin Hydrochloride prices started the first half of the first quarter of 2023 on a bullish note due to an increase in orders from end-user sectors, but they ended on a remarkably bearish note. Because of lower inflation and lower energy prices, which gradually increased consumer confidence, German consumer prices started to rise in early January and kept rising until the middle of the first quarter. Additionally, the market has begun to demonstrate signs of strength in support of an increase in the flow of trade from China to Europe in comparison to the previous month, which has bolstered the general market sentiments for Metformin Hydrochloride in the German market. In spite of this, end-user industries placed few orders, and the suppliers had enough stockpiles keeping the market feeble towards the termination of the first quarter. Overall, the prices of Metformin Hydrochloride were assembled at USD 4210/MT in Germany.
For the Quarter Ending December 2022
North America
The North American market for Metformin Hydrochloride experienced fluctuating sentiment in the fourth quarter of 2022 due to varying demand from downstream pharmaceutical sectors. Metformin Hydrochloride prices in the US market increased till November, but prices marginally decreased in December. China's early October Golden Week vacation and the subsequent Covid restrictions in November combinedly impacted the supply chain of a key exporting nation. However, because there were few inventories, downstream pharmaceutical manufacturers placed more orders, which increased trader confidence in the domestic market. By the conclusion of the quarter, improvement in import frequency from Chinese ports resulted in sufficient market supply, which caused the cost to be slightly lower. Additionally, the demand from the downstream pharmaceutical sector decelerated in December as buyers purchasing interest waned amid the year-end season and waiting for new supply.
Asia- Pacific
In the Asia Pacific region, the Metformin Hydrochloride market revealed an assorted sentiment with price fluctuations during the entire fourth quarter of 2022. An increment of 5.4% in Metformin Hydrochloride's price trend was seen in the first half of Q4, with prices settling at USD 5125/MT in November. Limited supplies among local retailers because of the slowdown in manufacturing activities during the Golden Week holidays in the initial week of October stimulated the rising price trend in the market. Also, with an increase in COVID cases, some parts of the country moved into lockdown and continued to cause instability in API exports. Later, in December, the manufacturers slowed down their production and were mainly focused on selling off their stocks even at cheap rates due to the ongoing yearlong destocking season. Thus, by the quarter ending December, prices of Metformin Hydrochloride were estimated at USD 5100/MT in China.
Europe
In Europe, the German market for Metformin Hydrochloride followed the same pattern as North America and Asia. The CFR Hamburg prices were resolved at USD 4330/MT in November and USD 4190/MT in December, indicating a downward trend. Offtakes were higher in the first part of the quarter than they were in December as a result of the unexpected rise in coronavirus infections, which caused a decrease in global demand in the latter weeks of December. But the economy as a whole continued to suffer from factors like COVID-19 cases and the conflict between Russia and Ukraine. Along with the easing of supply chain concerns, the CPI in Germany also fell at the end of the year.
For the Quarter Ending September 2022
North America
The price trend for Metformin Hydrochloride experienced a decreasing trajectory in the third Quarter of 2022. Metformin Hydrochloride was among the Active Pharmaceutical Ingredients (API) whose imports into the US were severely constrained due to China's zero-covid policy. Due to the heat wave and a power shortage, several Chinese industrial facilities were forced to shut down in the second half of Q3, which had a detrimental impact on US business. The nation's declining demand for Metformin Hydrochloride was attributed to several issues by various industries and experts, including inflation, supply shortages, and the country's excessive loan rates.
Asia- Pacific
The third Quarter of 2022 saw a decline in the pricing trend for Metformin Hydrochloride in the Asia Pacific market. During the first half, the commodities were only seen being purchased by significant suppliers for immediate consumption, with FOB Shanghai prices settling at USD 5200/MT in July. The weak downstream demand and the below-average offtakes were to blame for this. During the first half's conclusion, COVID-19 flare-ups were put out in several industrial hubs, and as a result, industry chains suddenly reopened, delivering profits to those firms. However, after the markets were reopened in mid-quarter, certain API production facilities carried out maintenance, resulting in reduced quantities of Metformin Hydrochloride. Later, low downstream demand on the domestic market forced prices to drop and settle at USD 4860/MT in September.
Europe
The third Quarter of 2022 saw a dip in sentiments on the German Metformin Hydrochloride market, with values for CFR Hamburg assessed at USD 4280/MT in July before falling even more in September at USD 4050/MT. During this quarter, Germany's logistics issues made a slowdown in the economy worse because transportation bottlenecks persisted. Ongoing lockdowns worsened the situation in Europe in Chinese ports and the conflict between Russia and Ukraine. Domestic merchants lowered their pricing for Metformin Hydrochloride in the second half of the quarter due to the overflowed inventories in the market amidst low demand from end-user pharmaceutical and nutraceutical companies.
For the Quarter Ending June 2022
North America
The prices of Metformin Hydrochloride API in the North American region showcased an increment in the second quarter of 2022. On the demand front, offtakes for the product remained firm throughout the week from the end-user Nutraceutical and Pharmaceutical industries. However, the supply system was still impeded due to the lengthy supply chain. Despite growing inflation expectations and a yet-to-happen shift back to services spending, US imports of Metformin Hydrochloride from Asia continue to expand, indicating that consumer demand remains strong. Following a prolonged supply interruption, the United States should expect significant delays and shortages of imports from China due to the increasing cases of COVID in Shanghai's industrial hub.
Asia- Pacific
During the second quarter of 2022, Metformin Hydrochloride API prices continued to decrease across the Asia-Pacific region on the back of weak demand from the regional market. Furthermore, India being the major supplier of Metformin HCL, the domestic merchants were left with stockpiled inventories owing to lessen enquires witnessed from the customer in this quarter. In addition, the price of the upstream chemical product dicyandiamide used to generate raw materials metformin has also decreased, which directly influenced the price trend for Metformin Hydrochloride. The Ex-Mumbai price of Metformin Hydrochloride API in the second quarter has decreased by 1.78%, with values assessed at INR 324000/MT.
Europe
The price of Metformin Hydrochloride API in the second Quarter of 2022 saw a downward trajectory due to gloomy market sentiments on the back of low offtakes from the downstream pharmaceutical industries. Manufacturers were under pressure, forcing them to change their offers to maintain margin. India being the major manufacturing country also influenced the European market sentiments. Due to low off takes the domestic merchants were compelled to lower their quotation to increase the demand from downstream industries. The CFR Hamburg price of Metformin Hydrochloride API in the second quarter has decreased by 9.2%, with values assessed at USD 4370/MT.
