In this file:

 

         US lands first Chinese pig iron cargo since 2010

         The US wants companies to buy Russian fertilizer as agricultural commodities markets spiral and a global food crisis looms: report

 

 

US lands first Chinese pig iron cargo since 2010

 

o   First Chinese cargo of pig iron in more than a decade lands in Louisiana

o   Brazil tops market share in 2022 following Russia's war with Ukraine

 

Michael Fitzgerald, S&P Global

16 Jun 2022

 

The US market has imported its first Chinese pig iron cargo since 2010 with approximately 70,500 mt landing in Baton Rouge, Louisiana, on June 7, according to data from Panjiva, a division of S&P Global Market Intelligence.

 

This is the first arrival of a Chinese cargo of pig iron since 56,880 mt landed in Baton Rouge on June 21, 2010, according to Panjiva and US Census Bureau data.

 

Traditional sources of US pig iron imports were significantly disrupted following Russia's invasion of Ukraine in late February. The two countries accounted for 62% of the more than 6 million mt of imports to the US in 2021.

 

The invasion left a scramble by US steelmakers to secure the raw material from Brazil, the other traditional supplier, and others. As the supply shock gripped the market, prices into the US spiked, opening the door for other suppliers to take advantage of the surging levels.

 

The weekly Platts US import pig iron assessment hit a high of $1,030/mt on a CIF New Orleans basis by the end of March compared to $540/mt at the beginning of 2022.

 

Market participants were actively discussing the Chinese cargo being booked at an industry event in March but details remained sparse...

 

more

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/061622-us-lands-first-chinese-pig-iron-cargo-since-2010

 

 

The US wants companies to buy Russian fertilizer as agricultural commodities markets spiral and a global food crisis looms: report

 

o   The US has been quietly pushing companies to ramp up Russian fertilizer trade as a global food crisis looms, Bloomberg reports.

o   This year, Russian fertilizer exports have fallen 24%, per the report.

 

Phil Rosen, Business Insider

Jun 14, 2022

 

The US wants companies to ramp up purchases of Russian fertilizer as global food costs rise and shortages loom, according to a Monday Bloomberg report.

 

Sources told Bloomberg that the government is quietly pushing companies to buy and carry more Russian fertilizer. Sanctions fears have created a supply shortage and have fueled a global food crisis, and the US is moving to alleviate pressure with the United Nations by boosting deliveries of fertilizer, grain, and other supplies from Russia.

 

This year, Russian fertilizer exports have dropped 24%, per Bloomberg data. Russia and Ukraine together account for a quarter of global grains trade...

 

more

https://www.businessinsider.in/stock-market/news/the-us-wants-companies-to-buy-russian-fertilizer-as-agricultural-commodities-markets-spiral-and-a-global-food-crisis-looms-report/articleshow/92189566.cms