Export prices for Ukrainian grain have increased amid healthy exports and stable importers’ demand. This week, Egypt’s GASC has purchased 60,000 t of Ukrainian wheat at $269/t C&F within one of the tenders. In addition, an importer from Lebanon has bought 30,000 t of grain with 11.5% protein content at $253/t C&F.
The phosphate market is generally calm, with players showing low activity, waiting and watching. In Egypt, only small lots are offered for sale. Some importers are requesting prices for Egyptian DAP, which are currently almost in line with Moroccan fertilizer.
Trade has perked up on the Egyptian urea market, with deals to sell at least 135-140,000 t of granular fertilizer signed at $340-350/t FOB. Abu Qir has sold 45-50,000 t of urea at the same price. HFC has signed a contract to sell 50,000 t of granular urea to Ethiopia at $345-350/t FOB Egypt…… Read more »
Steel scrap prices on the rise in Turkey. Suppliers successfully stand their ground, aiming to raise the quotes due to shortage of scrap and the approaching holiday season. Buyers accept the new prices and actively entering into new deals.
Prices for imported iron ore continue going up in China, reaching a new high in the past year and a half. The market is significantly influenced by news from Vale, the world’s second-largest iron ore producer.
Quotes for imported thermal coal have grown on the West European market, although trade is moderate. Market participants refer the price increase to the seasonal factor.
Quotes for imported thermal coal have declined on the West European market amid weak demand, with importers mainly taking a wait-and-see stance. Local consumers are occasionally ordering coal at electronic exchange trades.
In the U.S., soybean prices continue decreasing amid expectations of favorable rainfall in Brazil. According to USDA, private exporters have reported selling 134,000 t of soybeans to China and 123,300 t of soybeans to unknown buyers for shipments during MY 2023-24.
Export prices for sunflower oil have declined under the influence of the general global trend. Offers from Ukrainian suppliers (as well as from Russian ones) are voiced at $900/t CIF Turkey, while bids start at $885/t. No signed deals have been reported over the week.
Heavy rains in southeastern Australia have damaged wheat crops. IKON Commodities estimates that excessive rainfall has potentially reduced production by more than 100,000 t and turned up to 1 million t of milling wheat into lower quality feed grain.