The Melatonin Prices demonstrated an upward momentum during the first quarter of 2023, with FOB New York prices escalating from $130260 per MT in January to $133860 per MT in March. Considering the market instability in the previous quarter, industry experts had anticipated that the pharmaceutical and nutraceuticals industries would continue to sail through mixed sentiments during the first quarter of 2023. However, consistent demand for Melatonin throughout the quarter from the end users and reasonable inquiries from downstream suppliers maintained the market dynamics in the US. Since the supply chain and trade remained strong throughout the first half of the quarter, China's relaxation of its zero-covid prohibition was advantageous. This further reduced freight costs benefitting the commerce between the US and China.
The Asia Pacific region showed encouraging prospects for the Melatonin Price Q1 2023. The multi-trillion-dollar Asia Pacific economy, which had been severely struggling over the previous four years, received a boost when China decided to suspend the draconian COVID-19 restrictions during the first week of January. Prices remained stagnantly positive in the first quarter of 2023 in China, from $102555 per MT in January to $102000 per MT in March FOB Shanghai. The price of Melatonin in the local market for nutraceuticals and pharmaceuticals experienced a roll-over sentiment for two consecutive weeks in January following the Lunar Holiday, which lasted one week. Additionally, the Demand and Supply picture remained favorable throughout the quarter.
A rise in orders and shipments from both domestic and foreign markets helped the nutraceutical sectors in Europe get off to a strong start during the first quarter of 2023. Due to regular orders for Melatonin coming from the end-user market, participants in the local market experienced positive arbitrage for the vast majority of the time. Although the European market appeared to be moving in the right direction, China's COVID's unexpected reopening and the ongoing crisis between Russia and Ukraine reduced inflation pressures.
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