“Concerning” situation building in the nickel market for some time means disorder could be ahead

Russia’s invasion of Ukraine in February will have a profound effect on flows of material in global metal markets in the long term; in the short term the consequences have been extraordinary

Turkish mills have been forced to pay $6 per tonne more for United States-origin ferrous scrap with the extreme curtailment of Black Sea billet shipments into global markets acutely intensifying demand for Turkish material, and there are more hefty increases for US ferrous scrap export prices on the horizon, sources told Fastmarkets

Key Asian markets Taiwan and the Philippines will have to rely more on higher-priced steel billet from Southeast Asia if they can no longer procure Russian material amid the ongoing Russia-Ukraine conflict, according to sources

Increased concerns over the potential impact of the Russia-Ukraine conflict and volatile price action in LME official nickel prices has caused spot premiums for nickel to surge in Europe while participants seek to secure material

EU short-term shortage is ahead and energy cost inflation could have the biggest impact

The loss of pre-booked Black Sea corn supply will be hard to replace for feed producers in South Korea

The impact of the Russia-Ukraine conflict on US corn markets

Cash indications for Russian wheat heard in the Black Sea market for the first time since sanctions imposed

Cobalt market participants have reported that this week’s Russian invasion of Ukraine will compound the tightness in availability of units in the spot market while some opt to steer clear of handling Russian material