Ibuprofen Prices: Trend, Demand & Supply, Market Analysis | ChemAnalyst

North America

In the period from July to September, Ibuprofen prices in CFR New York experienced an ascent from $10,290 per metric ton to $10,150 per metric ton, culminating in a positive conclusion to the third quarter of 2023. This upward price trend underscored a clear inclination toward higher pricing levels, depicting an average quarterly increase of 0.14%. The domestic market for this nutraceutical exhibited an upward trajectory throughout the quarter, driven primarily by consistent demand across various end-user sectors. The constrained inventory levels, ranging from limited to modest, compelled sellers to incrementally raise prices each month, playing a pivotal role in sustaining the optimistic pricing trend for Ibuprofen in the United States. Additionally, the latter part of the quarter witnessed an increase in import costs due to fluctuations in the exchange rate between the US dollar and the Yuan. Despite a slight slowdown in inflation during the third quarter of 2023 owing to significant changes in the US economy, market participants remained vigilant in light of the Federal Reserve’s decision to raise interest rates. Warehousing costs, warehouse utilization, and inventory expenses experienced a noticeable surge starting in the first week of July in the United States. Consequently, commodities like Ibuprofen saw price hikes due to the escalating expenses associated with inventory management and storage. In summary, it is likely that importing countries underwent a trajectory similar to exporting countries during this period.

Asia Pacific

In the third quarter of 2023, there was a discernible increase in the cost of Ibuprofen, with prices rising from $22,850 per metric ton in July to $22,765 per metric ton on a FOB Shanghai basis by September. This shift indicated a proclivity toward higher prices, reflecting an average quarterly increase of 0.17%. China, the world’s second-largest economy, experienced a slower growth rate than anticipated in the first half of 2023, and this trend persisted into the latter part of the year, casting a negative shadow over the start of the third quarter. The primary contributors to the price surge of Ibuprofen in China during this quarter were the strengthening of the Chinese Yuan (RMB) relative to the US dollar and increased local demand from end-user businesses. The appreciating value of the Yuan and the weakening US dollar raised export expenses, impacting both domestic and international markets. Heightened demand and disruptions in the supply chain created an imbalance, exerting upward pressure on prices. Towards the end of September, just before the Golden Week holidays, there was a minor uptick in both shipping and manufacturing costs due to a surge in demand and inquiries. Another contributing factor to the price increase was strategic bulk purchasing by market participants seeking to replenish their inventories, intensifying overall demand during the holiday season.

Get Real Time Prices of Ibuprofen:  https://www.chemanalyst.com/Pricing-data/ibuprofen-1331

Europe

During the third quarter of 2023, the price of Ibuprofen exhibited a consistent trend, showing a slight increase from $1280 per metric ton in July to $1220 per metric ton CFR Hamburg in September. This pattern indicated a notable upswing in prices, resulting in an average quarterly growth of 0.08%. In July, with conditions stabilizing and the economy showing signs of improvement, German Ibuprofen suppliers initiated substantial orders to replenish their inventories and meet the growing demand within the country. Nevertheless, as the third quarter commenced, experts in the industry noted that the German manufacturing sector still faced challenges. In response to increased inquiries from local companies, the import of Ibuprofen from Asia, particularly China, remained an attractive option throughout the quarter. The depreciation of the Euro played a significant role in the rising prices in Germany, as the strong US dollar compelled domestic businesses to pay higher prices for imported goods from China. On the economic front, persistent high inflation and the challenging manufacturing environment in Germany continued to hinder growth, leading market investors to maintain a cautious approach.