Vitamin B1 Prices during the second quarter of 2023 | ChemAnalyst

Posted September 15, 2023 by chemanalystreports

Following a period of turmoil, economic conditions in the United States appeared to have improved during the second quarter of 2023.
For the Quarter Ending June 2023

North America:

Following a period of turmoil, economic conditions in the United States appeared to have improved during the second quarter of 2023. Within North America, the domestic Vitamin B1 (Thiamine) Mononitrate market exhibited price stability throughout the quarter. Demand for Vitamin B1 (D-Calpan) from pharmaceutical and nutraceutical industries in the US experienced a slight weakening in the latter part of Q2. Another contributing factor to the price stabilization in the country was the ample supply of Vitamin B1 (Thiamine) Mononitrate from domestic suppliers, prompting them to adjust their pricing downward. Inflation in the nation has aligned with energy price fluctuations. However, analysts have characterized this decline in inflation as a transient phenomenon attributed to the alleviation of supply chain pressures. Despite varying sentiments regarding the prices of vitamins and dietary supplements, the US nutraceuticals market displayed a diverse pattern of market activity. Furthermore, the US economy, as per statistical data, remains robust, with indications of a sustained and steady growth trajectory.

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Asia Pacific:

Across the Asia-Pacific region, the Vitamin B1 (Thiamine) Mononitrate market demonstrated favorable price movements in Q2 2023. Prices initially increased from $14,700 per ton in April to $15,000 per ton in June 2023, driven by enhanced demand from the pharmaceutical and nutraceutical sectors, both locally and globally. Chinese Vitamin B1 (Thiamine) Mononitrate producers found themselves able to command slightly higher margins due to increased consumer inquiries. In June, China's manufacturing activity contracted for the third consecutive month, albeit at a decelerated pace, according to statistical data. These figures coincided with growing pressure on authorities to devise more effective measures to support an economy that had plateaued after a robust first-quarter rebound. The June Purchasing Managers' Index (PMI) also revealed several imbalances, including a sustained decline in regional and international demand, an accelerated downturn in small business activities, and mounting challenges in the pharmaceuticals and dietary supplements sector.

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In Europe, the Vitamin B1 (Thiamine) Mononitrate market experienced price stagnation during the second quarter of 2023, with prices registering a slower rate of increase. Steady demand from downstream industries, coupled with moderate supplier inventories, played a pivotal role in this price stability within the German domestic market. By April, the costs of gas for power generation in Europe had reached their lowest levels since the onset of the crisis. Conversely, the market environment was notably affected by an unexpected surge in the German unemployment rate in June. Although German inflation had surpassed 6% in June, the country's Vitamin B1 (Thiamine) Mononitrate industry had yet to feel its impact. Much like the rest of the world, market participants cautiously navigated uncertain economic conditions in the country. Moreover, short-term challenges arose from reduced demand in Europe, which accounts for 15% of US exports, and a stronger US dollar due to increased global risks.

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ChemAnalyst is a subsidiary of TechSci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.
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Last Updated September 15, 2023