For the Quarter Ending September 2023

North America

The cost of Diphenhydramine Hydrochloride experienced a significant decline in July, followed by subsequent increases in both August and September. July saw a decrease in new order inquiries and sales due to weak domestic and global demand. The Federal Reserve's decision to raise its main policy interest rate by a quarter percentage point in July, the highest in 22 years, impacted overall economic demand and supported the downward trend. However, prices rebounded in August and September due to higher energy prices, leading to increased company expenses and shipping costs, consequently raising the pricing of Diphenhydramine Hydrochloride. Gasoline prices surged as Russia and Saudi Arabia continued supply cuts, pushing crude oil to a 10-month high of $91 per barrel. Additionally, reduced shipments from key exporting countries like China decreased the supply of Diphenhydramine Hydrochloride in the US market, contributing to the price increase. Market participants prioritized inventory replenishment, resulting in a surge in Diphenhydramine Hydrochloride pricing.

Asia Pacific

Diphenhydramine Hydrochloride prices exhibited a notable 4.35 percent decline in July, followed by modest increases of 5.97% and 1.88% in August and September. July witnessed a further decrease in prices due to a slowdown in industrial activity and reduced demand from downstream industries. China's official manufacturing PMI of 49.3 in July indicated the fourth consecutive month of falling factory activity, driven by lower foreign orders and insufficient local demand. However, prices rebounded in August and September as end-consumer demand increased amid limited market availability caused by the ongoing decline in the manufacturing sector for the fifth consecutive month. The Central Bank of China lowering its benchmark interest rate due to economic concerns stimulated market consumption and drove up the price of Diphenhydramine Hydrochloride in China. The purchasing managers' index for manufacturing in China showed a gradual rise back into the growing zone in September, signaling the potential for economic recovery.

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Europe

Diphenhydramine Hydrochloride pricing witnessed a significant descent in July, followed by subsequent increases in both August and September. The July price decline was a result of slowed commercial operations and reduced demand from downstream industries, influenced by factors such as consumer reluctance, destocking, rising interest rates, and market tightening amid economic and geopolitical uncertainty. The price surge in August and September can be attributed to persistent inflation, escalating interest rates, and an oil crisis. In August, Germany's consumer price index (CPI) showed a year-on-year change of +6.1%, with food and energy prices rising faster than average inflation. Energy product prices increased by 8.3% year on year, contributing to higher inflation. The continuously rising inflation led to increased expenses and operating costs for firms, ultimately contributing to higher Diphenhydramine Hydrochloride prices in Germany.


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