On this week's S&P Global Commodity Insights' Market Movers Asia with Manish Parashar, Editor, Quality and Digital:
*Crude imports by China's independent refineries are expected to rise
*Markets will track developments at China's 20th Communist Party Congress
*Focus is on the 8th Asia LNG & Hydrogen Gas Markets Conference by S&P Global
*China is set to release key metals' data on Tuesday
*Ukrainian wheat purchases by Asian buyers is in the spotlight
This week, China's independent refineries are expected to actively buy spot cargoes from the Middle East, Southeast Asia and Far East Russia following the early release of 2023 crude import quotas.
Imports are expected to jump as the trading cycle for December-loading sweet and sour crudes enters full swing this week.
Market participants will also track developments at China's 20th Communist Party Congress, which is expected to provide clues about the country's future energy strategy.
In LNG, the 8th Asia LNG & Hydrogen Gas Markets Conference by S&P Global Commodity Insights, held as part of Singapore International Energy Week, will take place Oct. 26-27.
International gas markets are on tenterhooks as the Russia-Ukraine war limits supplies, upending LNG trade flows.
In metals, China is set to release key data on Tuesday. Market watchers expect it will show crude steel output jumped year on year in September, led by seasonal demand.
Steel output is also expected to remain high in October. However, markets remain bearish on a longer-than-expected downtrend in new home starts, the primary driver of steel demand.
In grain markets, participants will be closely watching Ukrainian wheat purchases by Southeast Asian countries this week.
Indonesia and Vietnam recently purchased Ukrainian wheat and more shipments are likely to arrive shortly.
I'm Manish Parashar. Thanks for kicking off your Monday with S&P Global Commodity Insights.