Quotes for iron ore of literally all origins have been fluctuating during the week. Despite encouraging expectations on most market insiders for December, the market conditions have worsened amid growing stocks at China’s ports and overall sluggish demand. Thus, iron ore stockpiles have increased by 2.9 million t to 113.6 million t in Chinese…… Read more »
Turkish steel scrap importers have finished the week without any fresh deals due to a large gap in offer and demand prices. Moreover, neither exporters nor importers are so far ready to make at least any concessions to find a compromise in prices.
The pace of sales has declined on the Egyptian urea market. Only small volumes of the fertilizer (1-2,000 t) have been sold at $337-338/t FOB. At the start of the week, producers were offering both prilled and granular urea at $345-350/t FOB, while later on some companies have started offering granular fertilizer at $340-349/t…… Read more »
Buying interest in phosphate fertilizers remains moderate in Brazil. Moroccan MAP 11:52 for shipments in December is offered at $570/t C&F. Russian-made MAP 12:52 is being purchased at $560-565/t C&F. The Indian company NFL has bought 50,000 t of Moroccan DAP at $594-595/t C&F for shipment in December.
In the EU, grain export quotes have grown over the week. Prices were supported by tenders from key importers of European agri products. Thus, the state agency of Tunisia has bought 100,000 t of wheat at $278.68-282.91/t C&F, 75,000 t of durum at $436.89-437.98/t C&F and 50,000 t of barley at $237/t C&F with…… Read more »
On the Russian grain market, prices have shown an upturn thanks to limited offer and large tenders from frequent buyers from Saudi Arabia, Tunisia and Algeria. At the same time, Egypt – a key importer of Russian wheat – is apparently not planning any purchases in the near future.
Export quotes for Kazakh wheat hold steady, with no trade upturn seen so far. As expected, wheat exports are noticeably lower this season.
US soybean quotes have been under pressure from improving weather conditions in South America. During the week, private exporters have reported sales of 136,000 t of soybeans to China and 121,000 t of oilseeds to unknown buyers.
Ukrainian sunflower oil is offered at $900/t CIF Izmir and $885-890/t CIF Mersin for shipments in December-January. Bids are voiced by $10-15/t lower.
In Australia, wheat prices have shown an upturn amid modest sales by farmers as they assess losses from heavy rains; demand remains firm. Harvesting is still delayed in some regions. Heavy rains have negatively affected wheat quality, but favored spring crops.