In this week's Market Movers Asia with Aditya K:
- African crude oil cargoes inbound to Asia
- Oil prices draw attention after coup attempt in Russia
- China’s thermal coal demand holds up Asian market
- Japan’s iron and steel exports may weaken
- Vegetable oils in focus after US biodiesel targets
Markets will also be closely watching crude oil prices as futures rose in Monday’s mid-morning Asian trade after a coup attempt in Russia over the weekend stirred supply concerns.
In Asian thermal coal markets, an uptick in demand from China was the only bright spot in an otherwise slow market. Whether this demand will sustain, remains to be seen. With other Asian regions staying quiet, prices can slide back if buyers from China exit the market.
Japanese iron and steel exports for May are expected to fall on weaker demand. Meanwhile, Japanese steelmakers are expected to cut back on production in July during the summer season.
Sell-off pressure in soybean oil and crude palm oil markets may continue from last week after the US confirmed that its biodiesel mandate would be lower than markets expectations.
I’m Aditya K and thank you for kicking off your Monday with S&P Global Commodity Insights!