For the Quarter Ending December 2024
North America
In Q4 2024, Vitamin B1 prices in the USA experienced a consistent upward trend, influenced by a mix of market forces and external developments. In October, a surge in demand from key sectors, supported by increased consumer confidence following Federal Reserve rate cuts, led to greater competition for limited supply. Concurrently, supply chain disruptions, particularly labor strikes at East and Gulf Coast ports, intensified logistical challenges, causing buyers to prioritize shipments through the West Coast in an effort to secure stock.
November saw continued price increases, with consumer confidence reaching its highest level in 16 months. Anticipation of potential supply disruptions during the holiday season prompted proactive purchasing, further pushing prices higher. Concerns about an upcoming mid-January labor strike and the possibility of rising tariffs also spurred early buying activity.
By December, the market remained under pressure, as sustained demand and stockpiling due to fears of an International Longshoremen’s Association (ILA) strike and substantial tariff hikes on Chinese imports drove prices up. Additionally, the easing of interest rates provided further upward momentum. Throughout the quarter, the combination of market uncertainty, strategic buying, and ongoing supply chain issues played a key role in the steady increase in Vitamin B1 prices.
APAC
In Q4 2024, Vitamin B1 prices in China experienced a notable upward trend, driven by several interrelated factors. October saw an increase in prices, fueled by a rebound in China’s manufacturing sector, spurred by government stimulus measures and improving demand both domestically and internationally. The depreciation of the yuan further boosted export competitiveness, enhancing foreign demand. In November, the continued expansion of factory activity, driven by rising new orders, including from international markets, led to higher prices. Additionally, increased input costs and a weaker yuan placed further pressure on prices. December saw a significant rise, supported by strong demand from sectors like nutraceuticals, pharmaceuticals, and animal feed, along with stockpiling before the Lunar New Year holiday. This was compounded by heightened export activity as foreign buyers sought to secure supplies ahead of factory closures. Overall, the combination of robust domestic and export demand, economic factors, and supply chain adjustments contributed to the consistent price increases across Q4. By the end of Q4, Vitamin B1 was priced at USD 29000 per metric ton in China.
Europe
In Q4 2024, Vitamin B1 prices in Germany experienced a noticeable upward trend, driven by a variety of factors. October saw a rise in prices, fueled by a combination of improving business sentiment and the European Central Bank's decision to lower interest rates. This sparked optimism and bolstered consumer confidence, leading to increased demand. At the same time, businesses began building up inventories in anticipation of slower sales during the upcoming holiday season, adding further pressure on prices. In November, prices continued to climb due to a surge in demand, particularly from the nutraceuticals and healthcare sectors. Suppliers, anticipating the busy holiday period, kept stocking inventories, which intensified the upward price movement. Compounding this was the weaker euro, which made imports more expensive, as well as rising freight costs from higher shipping rates, both of which contributed to increasing overall prices. By December, the trend persisted, with steady demand from key industries. Moreover, congestion at European ports and the continued effects of the weak euro added logistical challenges, further strained supply chain and pushed prices higher. As the quarter drew to a close, it was clear that supply-side constraints, along with strong and sustained demand, played a crucial role in driving Vitamin B1 prices upwards throughout Q4.
For the Quarter Ending September 2024
North America
In Q3 2024, Vitamin B1 prices in North America witnessed a substantial increase, with the United States leading this upward trend in price fluctuations. Several interrelated factors contributed to this notable rise in prices, reflecting the complex dynamics of the market.
A significant factor behind this increase was heightened consumer confidence, which played a pivotal role in stimulating strong demand for Vitamin B1. As consumer sentiment improved, businesses responded by ramping up their orders to meet the anticipated surge in consumption. This renewed optimism in the economy fostered a competitive market environment, where demand outstripped supply. Adding to this demand was the early stockpiling for the upcoming Christmas season. Retailers and manufacturers, aware of potential supply disruptions, began to secure their inventories ahead of time. The ongoing crisis in the Red Sea complicated the situation further, as it raised concerns over shipping delays and availability of goods. Furthermore, the looming threat of a potential strike at East and Gulf Coast ports created a sense of urgency among importers.
Logistical challenges, including port congestion and limited shipping capacities, compounded these pressures. Uncertainties regarding shipping timelines and the reliability of supply routes led to increased costs for manufacturers and distributors. As logistical hurdles persisted, the strain on the supply chain intensified, resulting in elevated prices.
APAC
In Q3 2024, the APAC region experienced a notable increase in Vitamin B1 prices, driven by a combination of interrelated factors. The market saw a surge in demand, primarily due to a gradual recovery in new orders and strong export activities. This heightened demand was further supported by strategic stockpiling efforts as companies braced for extended lead times and logistical challenges. Supply constraints continued to impact the market, exacerbated by disruptions from severe weather events and logistical inefficiencies. As a major producer, China faced significant challenges, leading to marked price fluctuations. Additionally, the market dynamics were influenced by rising input costs, including increases in crude oil prices and raw material expenses, prompting manufacturers to reassess their pricing strategies. Overall, the trends indicated a positive market sentiment, with prices consistently rising. Seasonal fluctuations and correlations in price changes reinforced this upward trajectory, culminating in a closing price of USD 26,500 per metric ton for Vitamin B1 (Thiamine) Mononitrate on a FOB Shanghai basis in China at the end of the quarter.
Europe
Throughout Q3 2024, the European Vitamin B1 market demonstrated a marked upward trend, with Germany emerging as the country experiencing the most significant price fluctuations. Several critical factors contributed to this market dynamic. Firstly, strong demand from end-users, especially in the pharmaceutical sector, provided a solid foundation for rising prices. The reduction of inflation rates across Europe helped alleviate financial pressures on consumers, indirectly fostering higher prices for nutraceutical products like Vitamin B1. As inflation stabilized, consumers’ purchasing power improved, enhancing demand resilience even amid rising prices. Furthermore, ongoing disruptions in global shipping routes, particularly due to the crisis in the Red Sea, compelled retailers and distributors to accelerate their inventory replenishment efforts. With the crucial Christmas trading period on the horizon, companies aimed to prevent potential supply chain bottlenecks by securing their inventory early, maintaining elevated demand levels. This surge in inventory stockpiling further strained supply, contributing to price increases throughout the region. Germany, in particular, experienced a sharp upward trend in the market during this period.
For the Quarter Ending June 2024
North America
The second quarter of 2024 witnessed a significant upswing in the North American Vitamin B1 (Thiamine) Mononitrate market, with prices climbing steadily. This trend was the result of a complex interplay of factors, chief among them being an increased demand from both the nutraceutical and pharmaceutical industries. Simultaneously, the market grappled with supply chain disruptions and escalating freight expenses, which further fueled the price surge.
The global landscape during this period was marked by ongoing geopolitical tensions, which had far-reaching consequences on the Vitamin B1 market. Logistical hurdles, including congested ports and protracted shipping times, exacerbated the already strained supply situation. In response to these challenges, suppliers found themselves compelled to revise their price quotations upwards. The situation was further complicated by the fact that major suppliers were operating with depleted inventory levels, creating a scarcity that added to the upward pressure on prices.
Within the North American context, the United States emerged as the epicenter of price volatility. The country experienced a consistent upward trend in prices, driven by robust local demand and a steady influx of new inquiries from end-users. Notably, this demand remained strong throughout the quarter, defying typical seasonal fluctuations. The prevailing market conditions created a favorable environment for suppliers, who benefited from the combination of strong demand and limited supply. This scenario not only justified the price increases but also paved the way for potentially higher profit margins. As the quarter progressed, it became increasingly clear that the Vitamin B1 market in North America, particularly in the USA, was operating in a seller's market, with pricing power firmly in the hands of suppliers.
APAC
The APAC region experienced a significant upswing in Vitamin B1 prices during Q2 2024, driven by a confluence of factors that underscored the intricate dynamics of supply and demand. Throughout this quarter, the manufacturing sector showed robust expansion, buoyed by heightened market confidence and a resurgence in both domestic and international demand. This positive sentiment was further amplified by the depreciation of local currencies against the USD, making exports more attractive and stimulating heightened demand from international buyers. Additionally, disruptions and plant shutdowns in key manufacturing hubs exacerbated the supply constraints, further fueling the upward trajectory of prices.
Focusing on China, the country witnessed the most substantial price changes, driven by a slowdown in the manufacturing sector due to labor day holidays and logistical challenges. The limited availability of Vitamin B1 in the domestic market, coupled with an increase in ocean freight demand, placed additional strain on an already stretched market. These factors collectively resulted in market participants adjusting their pricing strategies upwards, leading to a notable 13% increase from the previous quarter.
The overall trend for Vitamin B1 prices in China during Q2 2024 has been positive, with a consistent upward sentiment reflecting the constrained supply and robust demand. The latest quarter-ending price stood at USD 22500/MT, indicating a strong pricing environment for Vitamin B1 in the region. The seasonality and correlation of price changes have underscored a resilient market, driven by external and internal demand pressures and strategic pricing adjustments by market participants.
Europe
In Q2 2024, the Vitamin B1 (Thiamine) Mononitrate market in Europe witnessed significant price increases, driven by a complex interplay of market dynamics. One of the primary factors was the persistent imbalance between supply and demand, significantly influenced by limited availability from major producing regions in Asia. Despite ongoing supply chain disruptions, demand from key end-user industries such as nutraceuticals, pharmaceuticals, and food and beverage sectors remained robust. This consistent demand, coupled with constrained supply, exerted continuous upward pressure on prices. Additionally, escalating production costs in producing regions, increased freight expenses, and logistical challenges further contributed to the rising cost of Vitamin B1 (Thiamine) Mononitrate exports to Europe.
Focusing specifically on Germany, which experienced the most significant price changes, the overall trend has been one of sustained price appreciation. The strong demand in the German market, particularly within the pharmaceutical and nutraceutical sectors, further tightened domestic supply conditions. Seasonality also played a role, with demand spikes aligning with specific production cycles and consumer behavior patterns. By the end of the quarter, Vitamin B1 (Thiamine) Mononitrate prices in Germany reached high values, underscoring a positive pricing environment driven by heightened procurement activities and sustained end-user demand.
Overall, the pricing sentiment for Vitamin B1 (Thiamine) Mononitrate in Europe during Q2 2024, and particularly in Germany, has been distinctly positive. This trend reflects robust market fundamentals and ongoing supply constraints, highlighting the dynamic nature of this market.
For the Quarter Ending March 2024
North America
In Q1 2024, the pricing of Vitamin B1 in the North America region experienced significant fluctuations influenced by various factors, ultimately creating a positive pricing environment. Throughout the quarter, prices consistently increased, largely driven by heightened demand from downstream industries, particularly in the nutraceutical and healthcare sectors.
However, several challenges impacted market dynamics during this period. The spring festival in China, supply constraints, and logistical hurdles posed obstacles for market participants. Tight supply conditions were further exacerbated by disruptions in key maritime routes such as the Red Sea and Panama Canal, leading to shipment delays and increased shipping costs. Additionally, the tightening of warehousing capacity added to supply constraints, contributing to the overall upward pressure on prices. Despite these challenges, the market situation in the USA remained relatively stable, with a bullish sentiment prevailing. This stability can be attributed to the robust performance of the US economy, characterized by encouraging signs across various fronts, including business activity, consumer sentiment, and inflation.
Overall, the pricing environment for Vitamin B1 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 dynamics of Vitamin B1 in the APAC region, particularly in China, exhibited notable fluctuations influenced by various factors beyond typical market influences. Despite the overall trend indicating a price increase, the underlying analysis reveals a diverse set of factors contributing to this trajectory. The quarter commenced with a notable increase in demand from downstream sectors and a surge in export orders, resulting in a modest uptick in prices. Positive market sentiment persisted, supported by consistent demand from both domestic and international markets. As February progressed, prices continued to climb, primarily driven by limited inventories. The Spring Festival resulted in factory shutdowns and reduced production capacity, leading to a shortage in the market. Even after the holiday period, supply remained insufficient as production took time to normalize. The supply-demand gap was further exacerbated by increased inquiries from major markets like the USA and Europe as the supply chain eased. This heightened demand, coupled with constrained supply, contributed to the upward pressure on prices. Despite these challenges, the overall outlook remained positive, with steady demand from downstream industries and anticipated growth in demand from overseas markets. The final quarter's price for Vitamin B1 (Thiamine) Mononitrate FOB Shanghai in China was reported as USD 19,500/MT, reflecting the upward trend in prices during the quarter.
Europe
In Q1 2024, the pricing dynamics of Vitamin B1 in Europe were shaped by a multitude of factors, resulting in a complex and fluctuating market environment. Geopolitical tensions and logistical challenges continued to disrupt the supply chain, leading to a scarcity of Vitamin B1 in the market. This limited availability was further compounded by heightened demand from the nutraceutical and healthcare sectors, which increased pressure on prices. Germany, as a key player in the European market, faced similar challenges with Vitamin B1 prices. The onset of Chinese New Year festivities in mid-February prompted many suppliers to adjust their prices in anticipation of reduced market activity during the holiday period. This adjustment reflected the cautious approach of market participants in response to the expected slowdown in demand. Prolonged disruptions in the Red Sea further complicated trade routes between Asia and Europe, resulting in increased freight costs. These higher transportation expenses influenced the pricing landscape of Vitamin B1 in Germany, adding to the overall cost of the product. Moreover, the moderation of inflation in Germany encouraged increased spending by businesses and consumers, driving up demand for Vitamin B1 and contributing to additional price hikes. Industry players took advantage of these favorable market conditions to quote higher prices, exploiting the existing demand-supply imbalance to maximize profits. Overall, the pricing dynamics of Vitamin B1 in Europe during Q1 2024 were influenced by a combination of geopolitical tensions, logistical challenges, changes in consumer behavior, and inflationary pressures, creating a challenging and volatile market environment for Vitamin B1 suppliers and buyers alike.
