On this week's S&P Global Commodity Insights' Market Movers Asia with Rituparna Nath, Editor, Asia thermal coal:
* Asian gasoline market could flip to contango by year end
* LME Russian metal ban talk could reroute aluminum to China
* Japan's steel market braces for release of lower Q3 results
* Australia's wheat harvest under threat from heavy rain
* Voluntary carbon markets players on sidelines ahead of COP27
This week, major refiners across North and Southeast Asia are set to reduce gasoline output on expectations of lower domestic sales in upcoming trading cycles.
Accelerating inflation and seasonal low driving activity during colder months are likely to weigh on gasoline demand.
With consumer confidence faltering and regional currencies weak against the US dollar, the Asian gasoline market structure could narrow further or even flip to contango before year end.
The London Metal Exchange's final decision on whether to ban trade in Russian metals such as aluminum and nickel will be closely watched this week.
China may end up as the preferred destination for Russian aluminum if the ban is imposed.
Major steelmakers in Japan are due to release Q3 results this week, which are expected to be lower on the year amid weakening demand.
Agriculture markets are closely watching the progress of Australia's wheat harvest, which is forecast at 34 million mt after reaching a record high of 36 million mt last year.
However, heavy rain and flooding continues to pose a threat at a time when uncertainties remain over the Black Sea Grain Deal.
Finally, voluntary carbon market players are set to remain on the sidelines ahead of the COP27 conference in Egypt Nov. 6.
I am Rituparna Nath. Thanks for kicking off your Monday with S&P Global Commodity Insights.