Over the first half of the fourth quarter of 2022, Norfloxacin prices gradually increased in North America. The pharmaceutical industry's end-user demand kept Norfloxacin costs on the high end. Additionally, there was a steep decline in supply chain disruption in the six months leading up to November across a number of measures, including shipping costs, which further bolstered the Norfloxacin market's upward trend. Prices for Norfloxacin stayed on the North side up to November, when they were recorded at USD 37250 /MT CFR New York. However, at the beginning of December, they started to fall precipitously due to a major decrease in their offtakes.
In the fourth quarter of 2022, norfloxacin prices in the Asia Pacific area, particularly in China, sharply declined. However, prices remained good throughout the initial half of q4 due to strong downstream demand balanced with supplies among market participants. On the other hand, the ease with which the supply chain was disrupted in November compared to October, including the lower shipping costs, encouraged the traders and suppliers to increase orders and balance the demand side. With the year 2022 coming to a conclusion, China's production activities started to notably decline after November due to an increase in COVID-19 instances, which caused a decline in trade momentum and a reduction in freight costs, both of which helped Norfloxacin price trend. Overall, the Norfloxacin costs noted in the middle of the fourth were assembled at USD 34210/MT FOB Shanghai in China.
The Norfloxacin market in Europe followed a similar trajectory to that in Asia Pacific in the fourth quarter of 2022. Due to a rise in demand from the end-user pharmaceutical business, the market trend started off well up until November and reached an assembly price of USD 40355/MT CFR Hamburg in Germany. After December, Norfloxacin pricing inquiries from the downstream industry started to decline dramatically, which reinforced the drug's weaker price trend because market participants had plenty of supply and little to no demand. Furthermore, fresher orders decreased in December as a result of suppliers' high stock levels brought on by the market closure.
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