Global commodity prices are expected to stay high in the short term and China will continue to take measures to ensure supplies and stabilize prices, China’s National Bureau of Statistics said on Monday August 16.

Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.

The price of shredded steel scrap into Pakistan and India diverged on Friday August 13 with Pakistan reporting restocking behaviour while demand in India remained low, sources told Fastmarkets.

The union at Escondida and BHP, the Chilean copper mine’s majority shareholder and operator, have agreed to extend wage negotiations until Friday August 13, so a deal can be signed and a strike averted.

Spot prices for imported containerized ferrous scrap in Taiwan started rebounding in the week to Friday August 13 due to increasing seller reluctance to offer lower prices given the widening price gap with bulk cargoes, market sources told Fastmarkets.

Members of the China Iron & Steel Association (Cisa) cut their crude steel, finished steel and hot metal production rates in the first 10 days of August compared with the preceding 11 days, according to data published by the association on Friday August 13.

Seaborne coking coal prices trended higher in the cfr China market following a strong domestic coking coal market and fell slightly in the fob market on Friday August 13 with market participants adopting a wait-and-see attitude.

Ukraine has already sold forward around 20% of its corn export potential in a flurry of sales that, along with concerns over the...

Base metals prices on the LME were mainly weaker this morning, Wednesday August 11, after average rebound gains of 1.4% on Tuesday, while SHFE base metals prices were mainly stronger in reaction to yesterday's LME gains.

The scintillating pace of US corn exports has been the hallmark of the 2020-21 marketing year, but as the year winds up and thoughts turn to the new marketing year, the country's export outlook lacks clarity.