North America
In the third quarter of 2023, the price of Vitamin B5 (USP grade) in the United States experienced a significant drop, plummeting from $16,650/mt to $11,800/mt CFR New York between July and September. This decline indicated an unfavorable conclusion to the quarter, driven primarily by a notable decrease in downstream demand and an excess supply in the market. The expansion of the US economy during the quarter raised concerns at the Federal Reserve, as it anticipated potential worsening inflationary pressures. Statistics revealed that the US manufacturing sector witnessed a ninth consecutive monthly decline in July, attributed to businesses reducing workers and production in response to a decrease in new orders. With sufficient stocks available domestically in Q3, local providers reduced their focus on importing the product from China. The Soft-Landing summer in the United States, supported by Federal Reserve assistance, showcased positive economic indicators in the second half, instilling hope that the US economy might evade the forecasted recession.
Asia Pacific
The third quarter of 2023 witnessed an overall decrease in Vitamin B5 prices in the Chinese local market. Negotiations from July to September indicated a drop from $14,500/mt to $10,000/mt FOB Shanghai. The main factors contributing to this decline were exceptionally low demand from the Pharma and Nutra industries in both domestic and foreign markets, coupled with significant stock availability from local suppliers. The absence of fresh inquiries led to low production output during this period. Despite China’s second-largest economy growing slower than expected in the first half of 2023 due to deflation, high unemployment, and weak international demand, the golden week off in late September had minimal impact on the Vitamin B5 market. Notably, vitamin B5 prices remained comparatively affordable compared to other supplements. However, the export of nutraceuticals, particularly Vitamin B5, influenced both domestic and foreign markets in the last weeks of September due to the strengthening Yuan and the declining value of the US dollar.
Get Real Time Prices of Vitamin B5: https://www.chemanalyst.com/Pricing-data/vitamin-b5-1323
Europe
Market trends for Vitamin B5 in Europe mirrored those in North America and Asia, with significant price declines observed in Germany during Q3 2023. Vitamin B5 providers adjusted their bids downward throughout the quarter due to an excess inventory surpassing overall demand. Prices dropped from $16,400/mt to $10,900/mt CFR Hamburg between July and September, signaling a downtrend. In the third quarter of 2023, German distributors and nutraceutical manufacturers reported substantial drops in new orders, production, and factory pricing for vitamin B5, indicating a severely contracted market. Consumer patience contributed to aggregate stock levels, revealing a limited market for several commodities, including vitamin B5. Geopolitical tensions, stricter banking rules, and economic uncertainty collectively contributed to the overall decline in demand. PMI numbers indicated a contraction in the private sector across the Eurozone in September, despite a slight rise in the composite score from 46.7 in August to 47.1. The European Central Bank raised interest rates twice during this quarter.
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