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.
Commodity markets
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.
Sunflower oil market. Ukraine // Week 47
Prices for sunflower oil have grown in the Black Sea region. Sellers are voicing offers within $930-950/t CIF Mersin, while buyers’ ideas are hovering at $915-935/t for shipments in December.
Grain market. Australia // Week 47
In Australia, grain prices have shown an upturn due to slow sales by farmers and a stronger currency. Dry and hot weather favored the wheat harvesting, which is already more than 50% complete, and higher protein levels.
Grain market. Kazakhstan // Week 47
Wheat offer prices are virtually unchanged in Kazakhstan, although suppliers are not giving up attempts to raise them.
Grain market. Russia // Week 47
Export quotes for Russian grains have inched up this week thanks to increased demand and reduced offer from farmers. The volume of concluded contracts for wheat sales amounted to 2.8 million t by November 21 (against 2 million t a month earlier), while exports in November are expected to reach 4.35 million t.
Grain market. EU countries // Week 47
Mixed price trend can be seen on the EU grain export market, although a downtrend prevails. Tenders from key importers of European grain failed to support prices.
Grain market. Ukraine // Week 47
Grain export trade has perked up slightly in Ukraine, supporting relevant quotes. Shipments by sea are still apportioned between the Danube and Black Sea ports (Odesa and Chernomorsk), exports through which in November are expected to reach 464,000 t and 943,000 t, respectively.
Grain market. USA // Week 46
In the U.S., wheat export prices have declined under pressure from heavy global supply, as well as past rains favorable for crops. However, crop conditions have deteriorated during the week, which should have supported quotes.