보기: Market Movers Asia, Aug 23-27: Southeast Asia tackles excess oil stocks, Capesize rates to stay strong

This week: The Capesize market remains bullish, China's metal stock release program to continue, and the deadline nears for bids on China's voluntary carbon trading system.

But first, Southeast Asian refiners and oil distributors are dealing with excess oil stockpiles. Fuel consumption in the region has tumbled in recent months amid a resurgence in COVID-19 cases. In Vietnam, Binh Son Refining and Petrochemical is running out of storage to handle the buildup in oil product stockpiles. The state-run company is even considering suspending middle distillate output at its 130,000 barrels per day Dung Quat refinery for a few days. Vietnam aims to ramp up crude shipments to 90,000 barrels per day over the next few months.

Vietnam is also actively selling its unwanted fuels in the regional market. The country is offloading most of the excess middle distillates to other Southeast Asian countries with ample storage, including Singapore and Malaysia. Meanwhile in Indonesia, gasoline stocks have reached an 11-month high, according to a fuel marketing source at Pertamina.

This brings us to our social media question for the week. Do you expect Asian oil demand to worsen amid the surge in coronavirus cases? Share your thoughts with the hashtag PlattsMM.

In China's carbon market, participants await the Aug. 26 deadline for companies to submit bids, to build the platform for voluntary carbon registration and trading. The credits can be used to meet 5% of emission obligations, if a power company exceeds limits under the national compliance carbon market, launched on July 16.

Meanwhile in shipping, the Capesize market is expected to maintain its momentum after freight rates hit a decade high last week. This was on the back of strong demand for shipping iron ore out of Brazil, and tightening tonnage supply due to congestion at Chinese ports. The firm sentiment in the forward freight agreement market is also painting a bullish picture for the physical market for the rest of 2021.

And finally in metals, nonferrous markets will be closely watching developments around the release of stocks from China's national reserves. The stock release program is expected to continue this month, and will include aluminum, copper and zinc. This marks China's effort to ease supply tightness as mid-sized and small downstream processors face cost pressure amid rising prices. China's latest response comes after market sources heard there could be a temporary halt in plans to release stocks.

For more on all the issues affecting commodity markets from wherever you are, make sure to check out Platts LIVE at the address displayed on your screen.

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