Nitrogen fertilizer market // Week 13
In mid-March, an Egyptian producer sold granular urea at $350/t FOB, so this week prices have dropped to $330-345/t FOB Egypt.
Commodity markets
Market of complex and potash fertilizers // Week 13
According to the agreement between OCP and BADC, OCP will supply 40,000 t of DAP to Bangladesh at a price of about €560/t FOB Morocco.
Coal market // Week 13
In Western Europe, quotes for imported thermal coal have been increasing for the third consecutive week, but consumption is not growing in the region and deals are sporadic.
Steel scrap market // Week 13
Buying interest in imported steel scrap is low in Turkey. Local buyers would rather wait and see than replenish stockpiles with imported scrap.
Iron ore market // Week 13
Iron ore quotes have risen in China amid surging trade, more inspiring sentiment on the global financial market, decreased stockpiles at local ports, as well as poorer iron ore offer from foreign suppliers.
Grain market. South America // Week 13
In Brazil, corn export quotes have increased due to delays in planting campaign, which lead to another decline in production estimates. Safrinha corn planting was 96.3% complete by March 23, while last year planting campaign was already complete at this time.
Grain market. USA // Week 13
Statements by world grain traders Cargill and Viterra about withdrawal from the Russian market supported prices for US HRW and SRW wheat. Quotes for US corn remain supported by high demand.
Grain market. Australia // Week 13
Competition from the Black Sea region is driving down prices for Australian grains, especially for feed crops.
Grain market. Kazakhstan // Week 13
The Kazakh market remains unchanged: trade is slow and export quotes are stable. If prices for agri products remain low for a long period, it could lead to bankruptcy of some farmers in the country. Production costs have risen by around 20% this season, while wheat prices have fallen by 25%.
Grain market. EU countries // Week 13
Prices for EU grains have been mainly growing this week (except for wheat in Constanta and barley in German ports) despite the sharp decline in shipments.