Coal market // Week 51
The West European market for imported thermal coal is stable. Trade is slow, with prices staying at last week’s levels.
Commodity markets
Steel scrap market // Week 51
This week has finished without a single purchase of imported steel scrap by Turkish consumers, which is quite typical for this time of year. Local mills are currently focused on selling finished steel products. Meanwhile, main scrap producers have left the market for Christmas holidays.
Iron ore market // Week 51
World iron ore prices have increased slightly amid improving economic prospects in China. However, trade in the segment of finished steel products in China has slackened due to approaching long winter holidays.
Market of complex and potash fertilizers // Week 51
The phosphate market has been volatile in Brazil. MAP 11:52 is reportedly being offered at the same price as last week. However, Eurochem has started offering MAP 12:52 at lower prices.
Nitrogen fertilizer market // Week 51
Despite low demand on the global market, Egypt has sold some urea this week, with unconfirmed data suggesting contract prices of $330-340/t FOB. No fresh spot deals have been reported in the Middle East.
Soybean market // Week 51
U.S. soybean prices have declined due to improved weather conditions in South America. At the same time, importers’ demand for soybeans is limiting price declines. This week, private exporters have reported selling 132,000 t of soybeans to unknown buyers for shipments during MY 2023-24.
Grain market. Australia // Week 51
Besides the impact of tropical storms in northern Queensland, generally dry weather is forecasted across Australia until the end of December, which is favorable for the end of harvesting campaigns.
Grain market. Kazakhstan // Week 51
Trade has been dull on Kazakhstan’s market for milling wheat. Some buyers have shown interest in purchasing ungraded wheat.
Grain market. Russia // Week 51
Russian grain suppliers have raised quotes amid a successful tender in Egypt. Thus, GASC has purchased 480,000 t of wheat at $284.9-287.4/t. The grain is only of Russian origin.
Grain market. South America // Week 51
Export quotes for Brazilian corn are stable. On the one hand, concerns about future production prospects and abundant global supplies are weighing on prices.