Iron ore market // Week 48
Prices for imported iron ore are sliding down amid pressure from China’s National Development and Reform Commission (NDRC).
Commodity markets
Grain market. Russia // Week 48
Export quotes for Russian grains have grown due to steady importers’ demand and a possible decline in exports. The country’s Ministry of Agriculture may consider banning grain exports if the country’s stocks fall to a critical level of 10 million t.
Soybean market // Week 47
In the U.S., soybean export quotes are under pressure of the global trend caused by improving weather conditions in Brazil. According to USDA, the U.S. soybean harvesting was complete as of November 19, which also affects pricing.
Grain market. South America // Week 47
Export quotes for corn are generally flat in Brazil. Market participants continue to keep a close eye on weather conditions impacting production prospects and thus prices.
Grain market. USA // Week 47
The US grain market has been inactive this week due to the Thanksgiving holiday. Wheat prices are sliding down amid high competition on export markets and low demand. However, this week private exporters have reported selling 110,000 t of SRW wheat to China for shipments during MY 2023-24.
Coal market // Week 47
Quotes for imported thermal coal continue sliding down on the West European market amid insufficient pace of trade. Prices have dropped also in ARA ports.
Steel scrap market // Week 47
Trade has strengthened somewhat on the Turkish steel scrap market, although most importers still refrain from active purchases amid sluggish sales and rather low prices of finished steel products.
Iron ore market // Week 47
Prices for imported iron ore are now the highest in past 18 months in China. The latest increases have been triggered by news about a possible reduction in BHP Group’s supplies.
Market of complex and potash fertilizers // Week 47
OCP’s phosphate fertilizers are still offered to European consumers for shipments in December. Thus, OCP’s DAP is quoted at $614/t FOB Morocco for Germany, at $550-565/t FOB Morocco for Romania (spot stems) and at $680/t FOB Morocco for France (November-December shipments).
Nitrogen fertilizer market // Week 47
Trade is slow on the global urea market, with prices falling noticeably. In Egypt, granular urea has been sold in the middle of the week at $350-357/t FOB for December shipments, unconfirmed reports show. In addition, HFC has sold a total of 40,000 t of the fertilizer to Europe and Turkey at $355-360/t FOB.