Grain market. USA // Week 45
Despite heavy corn sales in the U.S., relevant quotes have declined due to seasonal pressure, as well as an advancing U.S. harvesting and higher estimates of global production and ending stocks.
Commodity markets
Coal market // Week 45
Quotes for imported thermal coal have decreased in ARA ports. Local consumers are inactive on the market. Our sources have reported a tender for the purchase of thermal coal by one of European cement producers, but the details have not been disclosed yet.
Iron ore market // Week 45
Iron ore prices are on the rise in China despite weak demand and another 1.8 million t hike in port stockpiles to 108.8 million t.
Steel scrap market // Week 45
Quotes for imported steel scrap have jumped up on the Turkish market amid scant inflow of imported scrap. Despite the ongoing decline in the segment of finished steel products, Turkish mills are ready to purchase scrap at higher prices to provide the production with the raw material during the coming month.
Grain market. Ukraine // Week 45
In Ukraine, the issue of port security remains open and continues to affect pricing. After another missile attacks in Odesa Region, export quotes have shown an upturn, although navigation along the established corridor continues. Thus, on November 9, six ships with 231,000 t of agri products left the ports of Greater Odesa.
Sunflower oil market. Ukraine // Week 45
Prices for sunflower oil have increased in the Black Sea region as supplies from Ukraine declined. At the same time, major European, North African and Turkish importers are showing stronger demand.
Nitrogen fertilizer market // Week 45
In Egypt, urea producers have returned to work and are operating at full capacity. However, trade remains minimal due to low demand from traders. This week, prices for granular urea are hovering at $400/t FOB. Abu Qir was offering the fertilizer at $395/t FOB Egypt.
Market of complex and potash fertilizers // Week 45
In China, phosphate export quotas for Q4 2023 are almost covered. According to market players, however, it is still possible to export about 200,000-300,000 t of fertilizers in December. Most producers offer DAP for shipments in November, but importers have reportedly requested shipments in December at $570-585/t FOB China.
Grain market. EU countries // Week 45
Export prices for EU grains have increased as the tender from Algerian OAIC was quite successful for local traders. Within the tender, traders sold 600-690,000 t of milling wheat at $266/t C&F (part of the volume was bought in France).
Grain market. Russia // Week 45
Russian grain suppliers have raised offer prices following the general market trend, supported by the tender in Algeria. Thus, OAIC has purchased a large volume of wheat from the Black Sea region and France. According to market participants, Russian wheat was the cheapest at the tender, but deals have been signed not for the…… Read more »