The atmosphere of commodity and commodity markets is calm in most markets and in the observation and passivity phase. The Brazilian crude iron market was no exception. The Brazilian crude export market was calm in the week ending Friday, July 2, and was waiting to see how the global market would react to Russia’s plan to impose export duties on a wide range of metal products. The Russians are the largest producers and exporters of crude iron. Russian market participants have stated that they are dealing with cheap sales and are currently in the waiting phase to monitor demand. Therefore, this area is likely to be accompanied by price increases. In the following, we will evaluate this issue, quoting Metal Bulletin. Please be with Artan Press.
*** Fast market evaluation of the crude iron market
Price market estimates by Fast Market show that for exported crude iron deposited in the port on a fob basis from Vitoria to Rio, Brazil, it was $ 620-625 per ton on Friday, up from $ 620 per ton last week. Spread upwards. Last week, offers were heard from southern Brazil at $ 625 per tonne FOB. The last sale at $ 620 per ton FOB was made in early June. These statistics show that the crude iron market is fluctuating significantly these days. On the one hand, the iron ore market tends to decline. On the other hand, due to the welcome use of this material in the production of beams and rebars, prices have risen. It remains to be seen which of the market forces is more powerful than the others.
*** Russia’s role in controlling the price and market of crude iron
Russia, the world’s largest supplier of crude iron, has planned to temporarily export 15 percent of crude iron from August 1 to December 31 this year, but will not trade below $ 115 per tonne. A Russian businessman said that we had focused on maintaining the efficiency of crude iron production until September, when the Russians did not see a drop in prices in this area and preferred to limit their supply.
The medium-term outlook for this product is growing in the international market, with fast-market price assessments for crude iron, exports, Madernia as FOB marine exports from Brazil, $ 630-635 per ton on Friday. In general, the market in this sector is stable and low fluctuations, the reason for this should be sought in the trading behavior of the Russians, we did not see any trade in this area last week, and currently due to the general recession in the international steel market We see price stability in general.
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