Free First Quarter of 2023 in Europe Vitamin B12 Prices New York
- Location: New York, New York, NY
The Vitamin B12 Prices displayed mixed sentiments at the beginning of the first quarter of 2023, with prices estimated in January 2023 at $2073350/MT and March 2023 at $2005780/MT CFR California, respectively. Following the previous quarter's market volatility, market participants had anticipated that the choppy waters would continue to hang over the pharmaceutical and nutraceuticals market during the first quarter of 2023. The market dynamics were kept in check by sustained end-user demand and low to moderate inquiries from downstream suppliers. The first half of the quarter was positively influenced by the lifting of the zero-Covid Ban in China in the first week of January as the supply chain and trade continued to strengthen, resulting in a decline in freight costs. Businesses in the US increased employment in January, and wages rose as a result of a sustained severe labor shortage. Because of a downturn in local consumer demand and record high warehouse stockpiles in the second half of the quarter, domestic merchants reduced manufacturing orders by as much as 40%.
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