Steel scrap market // Week 46
Quotes for imported steel scrap keep are climbing up in Turkey owing to quite lively demand. ISM sources reported a number of fresh deals for the supply of steel scrap from the US and Europe.
Commodity markets
Iron ore market // Week 46
Iron ore prices on the rise despite sluggish trade on the primary market. Quotes are supported by the limited offer from major iron ore producers, shrinking stockpiles at Chinese ports and optimistic sentiment related to the upcoming economic developments in China.
Market of complex and potash fertilizers // Week 46
DAP prices have been mostly growing on the global phosphorous fertilizer market. Indian importers are trying to resist this trend by making counter-offers within international tenders. Thus, on November 11, RCF has canceled a tender for the purchase of 45,000 t of DAP, having received only one offer at $600/t from C&F India.
Nitrogen fertilizer market // Week 46
In Egypt, prices for granular urea are hovering at $380-385/t FOB. Abu Qir offers the fertilizer at $380/t FOB and unconfirmed reports show sales of small volumes at this price.
Sunflower oil market. Ukraine // Week 46
The offer of Ukrainian sunflower oil has increased, and exporters have raised prices due to quite healthy demand from North African, Turkish, Indian and Chinese importers. This week, the oil is offered at $900-920/t CIF Mersin, $890/t CIF Marmara and $895/t CIF Izmir for November-December shipments.
Grain market. Australia // Week 46
Grain prices are stable in Australia. Harvesting of winter crops continues. The work is progressing well and is expected to be completed by the end of December (a few weeks earlier than usual).
Grain market. Kazakhstan // Week 46
In mid-November, export prices for Kazakh wheat have inched down. Such dynamics is due to low domestic and export demand, as well as problems with the quality of grain and competition with suppliers from Russia.
Grain market. Russia // Week 46
Russian grain prices have shown minor shifts despite growing demand and limited offer on the domestic market. By November 14, the volume of concluded contracts for wheat sales amounted to 2.4 million t (against 1.9 million t in October).
Grain market. EU countries // Week 46
Mixed price trend can be seen on the EU grain export market. Thus, prices are under pressure from competition with Black Sea wheat (mainly Russian grain) and the prospect of an increase in grain stocks in France to the maximum in the last six years.
Grain market. Ukraine // Week 46
In Ukraine, grain export prices have shown an upturn amid steady demand and ongoing problems with shipments by sea. Wheat is being increasingly shipped to Asia, with feed wheat being popular in Spain, Italy and Bangladesh (quotes are voiced at $227-230/t C&F, $200/t DAP and $265/t C&F, respectively).