Prices for imported iron ore, particularly those for Australian origin, have decreased somewhat in China after June 19 due to sluggish demand, declined sales of finished steel products as well as abundant inflow of Australian ore into the Chinese market.
Turkish steel mills avoid purchasing large-tonnage lots of imported steel scrap amid weakening lira and slow sales of steel products.
Quotes for imported thermal coal have been growing in ARA ports for the third week in a row, although trade remains dull in the region. Stocks of coal are quite large, while consumption is low.
Export quotes for Ukrainian grains have shown an upturn, although trade remains dull given uncertainty about the functioning of the grain corridor (players discuss information about Russia’s withdrawal from the agreement starting July 1).
Prices for Ukrainian wheat have stabilized, while those for barley and corn have dropped amid continuing inspection delays and uncertainty about the future work of the grain corridor.
As for the phosphate fertilizer market, MAP quotes continue to decline in Brazil. Traders have cut prices to $450/t C&F Brazil. Russian suppliers have sold several lots at $440/t C&F Brazil.
Prices for US soybeans have increased amid growing market of vegetable oils, as well as given dry weather in the country.
The Australian grain market remains stable.
Quotes for Brazilian corn have grown due to the global trend. In its June report, Conab raised Brazil’s 2022-23 corn crop estimate by 200,000 t to 125.7 million t.
Prices for US corn have increased amid dry weather, which may have a negative impact on crops.