Steel scrap market // Week 50
Turkish metallurgical enterprises refrain from purchasing imported steel scrap. So, prices have stalled after the last week’s increase.
Commodity markets
Freight indices // Week 50
Despite generally quite good levels of TCE for coaster ships of various sizes, the small-tonnage shipping market is dominated by negative sentiment given the absence of any noticeable pre-holiday activity surge (most likely, the spike will not visit the market this year).
Ferrexpo planning to resume pellet production
According to Ferrexpo’s announcement, there is enough electricity supply to run one pellet production line.
Freight indices // Week 49
The picture of the BlSea small-tonnage market is looking very atypical for December. Despite upcoming holidays, activity is definitely not growing on the market.
Iron ore market // Week 49
Quotes for imported iron ore have surged rapidly in China, firstly, owing to the government’s support of the domestic real estate sector; secondly, due to ongoing easing of quarantine restrictions in the country;
Steel scrap market // Week 49
Turkish steel works continue purchasing imported steel scrap, since some of them have not accumulated enough scrap for their productions needs in December yet.
Coal market // Week 49
Coal import quotes have inched up in ARA ports, but European consumers do not hurry to book additional volumes. At the same time, LNG supplies to Germany begin within the policy of diversification of fuel purchases. In Turkey, prices for Colombian coal hold steady, while quotes from Russian suppliers have even sagged this…… Read more »
Nitrogen fertilizer market // Week 49
One of the Middle Eastern producers signed the deal for the supply of 40,000 t of granular urea with shipment in late December at $490/t FOB Middle East. Thus, since last week, the estimated fertilizer price for non-US markets has dropped by $59/t on average in Middle Eastern ports.
Market of complex and potash fertilizers // Week 49
The Indian phosphorous fertilizer market is still showing higher activity than those in other regions: local importers continue to buy DAP, but at a lower price (following government recommendations), which does not exceed $730/t CFR India.
Grain market. South America // Week 49
Following the global trend, Brazilian corn prices have dropped despite brisk sales and exports.