Aspirin Price Trend and Forecast

North America

In the first quarter of 2023, the Aspirin Prices witnessed a deprecating trajectory in the North American region. Prices were witnessed to be on the lower end throughout Q1 2023 because of weak domestic demand, according to market fundamentals. The fact that domestic retailers had ample inventories among themselves also influenced the market scenario negatively. The slowed Aspirin market, brought on by falling feed Salicylic Acid prices, also affected the production cost. At the end of the first quarter, Aspirin values were accessed at USD 4420/MT with an average quarterly declination of 6.83%.

Asia Pacific

The market prices for Aspirin relinquished significantly in the first quarter of 2023 as a result of a declined demand from the downstream food, pharmaceutical, and healthcare industries. The prices were accessed at USD 4275/MT FOB Shanghai with an average quarterly declination of 4.18%. The price trajectory for the feedstock Salicylic Acid also showed a sharp fall, which had a detrimental impact on the Aspirin market. Also, domestic merchants had to drop their quotations to clear stock because the demand from the domestic market was lower than usual, and the volume of orders was lower than typical from the international market too. Nonetheless, the prices were recorded to stabilize at the termination of Q1 2023, backed by static demand and enough inquiries from the overseas market. 

Europe

In the first quarter of 2023, the prices for Aspirin in the European market showcased a depreciating trajectory. At the end of the first quarter of 2023, Aspirin values were accessed at USD 4390/MT CFR Hamburg with an average quarterly declination of 9.95%. The market fundamentals showed that Aspirin prices depreciated throughout the month of January due to Lackluster demand from the domestic market. The availability of sufficient inventories on the shelves of domestic merchants had combinedly impacted the market situation. Feedstock Salicylic Acid prices also influenced the production cost keeping the Aspirin market feeble. Moreover, the extreme depreciation in the freight charges also added to the feeble market situation.

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