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“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