- Asia's heat waves seen boosting coal, gas demand
- Asian thermal coal demand likely to pick up
- China’s oil and gas majors to unveil Q1 operational results
- South Korea’s Q1 steel production eyed
- Australia’s wheat output in focus after forecast of below-normal rains
Soaring temperatures in several parts of Asia are driving up power demand and will likely boost consumption of generation fuels, like coal and gas, in the coming days.
The increased demand could also lead to higher LNG imports and support prices at a time when the market has been flusha with LNG cargoes, due to high inventories and a warm winter season.
Demand for Asian thermal coal is also seen higher, as end-users, especially in India, prepare for summer stockpiling amid the ongoing heat waves in several parts of the country.
In China, state-owned oil and gas majors will release their Q1 operational results this week. Market participants will watch out for signs of demand recovery in the first quarter after the country relaxed its pandemic-related curbs.
China's crude throughput rose 5.5% in Q1, with volumes reaching an over 7-year high of 14.97 million b/d in March.
In metals, South Korean steelmakers will release their Q1 production results, which are likely to show a decline in output amid poor demand.
Over in agriculture, the attention will be on Australia’s wheat sowing season, which is expected to start soon. The country's meteorology department forecasts below-average showers for most parts of Australia till July, a crucial window for wheat seeding, which may impact output.
I’m Neo Rong Wei, thank you for kicking off your Monday with S&P Global Commodity Insights.