보기: Market Movers Asia, Feb 21-25: As Ukraine crisis escalates, Asia looks to minimize supply disruptions

This week: Steel mills are closely tracking volatile iron ore prices, Australian high-ash coal prices are likely to remain bullish and uncertainty around wheat shipments from Ukraine sees buyers turning to Australian wheat.

But first, Asian refiners and petrochemical companies are hopeful that Iranian crude will soon return to international markets amid optimism that a nuclear deal could be reached within the next few months. They expect that the increase in supply could put the brakes on surging oil prices, amid fears of an impending Russian invasion of Ukraine.

S&P Global Platts Analytics expects that an interim deal could potentially increase Iranian crude exports by 700,000 barrels/day.

Japanese refiners are also keeping a close eye on the nuclear talks as Asia's fourth biggest crude importer is just as keen as South Korea to resume purchasing competitive Iranian crude grades like the South Pars condensate.

In coal, market participants are in a wait-and-watch mode amid bearish buying interest from China. This comes after National Development and Reform Commission's stable price guidance and lingering supply tightness in Indonesia. Lack of supply is supporting Australian high-ash coal prices, which are likely to remain bullish buoyed by demand from the East-Asian market.

In metals, iron ore prices remain in the spotlight after a volatile week, with Platts benchmark IODEX declining sharply last week, closing at to 133.5 dollars per dmt on a CFR China basis on February 18.

Buying interest has diminished as traders remain cautious amid news of heightened supervision in China, such as on-going survey on the iron ore stocks, which exacerbated market uncertainty. Regional steel mills, which had raised offers on account of cost push factors earlier in February, will also likely await clarity on future price direction.

Separately, Japan is expected to report key data on crude steel production for January 2022. Production is expected to grow annually on strong support from the manufacturing sector. However, growing concerns on the domestic spread of COVID-19 could stifle the month-on-month growth.

Further in steel, Platts is deepening its commitment to the expanding steel industry in India. It will publish a daily domestic rebar assessment and increase the frequency of its existing domestic hot rolled coil assessment to daily, effective February 22. Platts looks forward to engaging with market participants to offer a comprehensive perspective on the Indian market dynamics.

That brings us to our social media question for the week: Do you think Asian steel prices will drop further given China's regulation of iron ore prices? Share your thoughts on Twitter and LinkedIn with the hashtag PlattsMM.

And finally, in agriculture, grain markets will be closely watching the developments in the Black Sea region amid uncertainty around shipments from Ukraine. Ukraine is expected to account for 12% of the total wheat exports from the region. Southeast Asian buyers, especially from Indonesia, were seen ramping up inquiries for Australian wheat in recent weeks amid the Russia-Ukraine tensions. Besides Australia, India is also looking for opportunities to ramp up its wheat shipments to Southeast Asia.

And don't forget to check out the 4^th edition of Platts Periodic Table of oil at the address displayed on the screen. As companies look to shift focus to less carbon intensive production techniques, carbon intensity has emerged as a new barometer in the oil industry. The table includes new crude grades and carbon intensity values to help you plan and make a more informed decision in the rapidly changing markets.

Thanks for kicking off your Monday with us. Have a great week ahead!