North America
Vitamin B12 (Cobalamin) Prices in North America experienced a modest uptick, climbing from $1,887,750/mt to $1,902,400/mt between July and September. This surge of approximately 1% marked a bullish conclusion to the third quarter of 2023. The domestic market saw an upward swing, fueled by growing demand from pharmaceutical and nutraceutical sectors. Scarce inventory levels prompted sellers to incrementally raise their quotes each month, constituting a significant factor supporting the positive price trend in the United States. Currency fluctuations between the US dollar and Yuan led to increased costs for importing nutraceuticals in the latter half of the quarter. Although inflation showed a slight cooldown, the Federal Reserve’s interest rate hike kept market participants vigilant. Warehousing costs and inventory expenses soared, contributing to the upward trajectory of commodities like Vitamin B12. As October approached, Chinese vendors responded to heightened demand, especially from the US, by raising price quotations ahead of China’s golden week and mid-autumn vacations.
Asia Pacific
The third quarter of 2023 witnessed a robust upward trend in Vitamin B12 prices in the Asia Pacific region, climbing from $1,506,700/mt to $1,547,400/mt from July to September. China, the second-largest global economy, faced slower growth in the first half of the year, exacerbating deflation, high youth unemployment, and weak foreign demand. Noteworthy factors contributing to China’s price hike for Vitamin B12 included a strong Yuan against the USD and increased local demand from end-user businesses. The nation’s dietary supplement sector felt the impact of heightened requests from pharmaceutical and nutraceutical suppliers. Currency dynamics, with a strengthened Yuan and a weakened US dollar, raised export costs for nutraceuticals, including Vitamin B12, affecting both local and foreign markets. Moderate to low inventory levels and consistent manufacturing production characterized the market. The latter weeks of September saw a spike in demand and inquiries, prompting a slight uptick in both freight and manufacturing before the Golden Week holidays.
Get Real Time Prices of Vitamin B12: https://www.chemanalyst.com/Pricing-data/vitamin-b12-1254
Europe
In Europe, Vitamin B12 prices maintained a stable trend in the third quarter of 2023, edging up slightly from $1,732,800/mt to $1,740,500/mt between July and September. As the economy settled and improved, German providers responded by placing significant orders to replenish inventory and meet rising domestic demand. Despite challenges in the German manufacturing sector, new inquiries from domestic pharmaceutical and nutraceutical companies sustained favorable imports of Vitamin B12 from Asia, notably China. Currency depreciation, particularly the Euro, played a pivotal role in Germany’s price increase, as the strong US dollar led to higher import costs from China. Lingering high inflation and manufacturing difficulties in Germany continued to impede growth, keeping market investors in a cautious, wait-and-see stance.
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