보기: Market Movers Asia Feb 5-9: India Energy Week kickstarts in Goa; China’s fuel demand to pick up for Lunar New Year

This week, India’s Petroleum and Natural Gas ministry’s flagship event, India Energy Week begins on Tuesday.

The event will see key stakeholders come together in Goa, India to discuss the country’s oil demand revival, escalating tensions in the Middle East and Red Sea region, and the push towards cleaner energy.

Stakeholders will be looking for answers on how Indian energy companies and policy makers strike a balance between the need for traditional fuels and embracing a new energy roadmap.

In India, the spotlight will also be on efforts toward doubling the National Green Hydrogen Scheme allocation and an increase in the solar power budget—as announced during the country’s Interim Budget for next year.

Meanwhile in China, transportation fuel demand is expected to rise during the Lunar New Year holidays, with the Ministry of Transport anticipating a doubling of passenger turnover from last year.

China’s grain market participants are expecting the country to approve corn imports from Argentina, which is having a record output this year while its competitor Brazil is facing weather challenges.

Approval of Argentine wheat exports to China is attracting little excitement from market sources, who view the move as an attempt at import diversification rather than a major prospective trade.

The Asian thermal coal market is expected to see supply tighten due to heavy rains in Indonesia that have caused several mines to stall operations.

However, low industrial output in China ahead of the holidays and sufficient domestic stocks in India will keep thermal coal demand subdued, leaving prices rangebound.

I am Shivam Prakash, thank you for kicking off your Monday with S&P Global Commodity Insights.