- China steel output data due this week
- New Zealand’s weak carbon prices in focus
- Asian thermal coal market eyes pick up in trade
- Indonesia may ease palm oil export curbs
- Soybean derivates supply likely to fall
This week, China will be releasing the steel output data for March, which is expected to be higher from February.
The country’s crude steel production is likely to advance further in April, but weak profit margins could cap growth.
China’s downstream aluminum demand is likely to recover in April following the start of traditional peak season, which will last through June.
In energy transition, New Zealand’s climate commission has warned that the country will miss its emission targets for 2030 due to falling carbon prices and weaker price settings.
Market participants will keep a close eye on carbon prices in the country, which are currently down 35% from their all-time high.
Asian thermal coal buyers are expected to stockpile for summer in the coming days, as Indonesian output may dip further in the second half of April with the end of the 30-day Ramadan period.
In agriculture, Indonesia, the largest palm oil supplier, is likely to ease export restrictions from May as the peak demand season of Ramadan is over.
Soybean derivatives supply to major Asian buyers such as China and India will likely be under pressure, as Argentina’s multiyear drought woes are seen hampering global outflow of soybean oil and meal.
I’m Agamoni Ghosh, thank you for kicking off your Monday with S&P Global Commodity Insights.