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Watch: Market Movers Asia, Nov 20-27: Panama Canal restrictions impact LNG flows; oil buyers focused on OPEC+ policy

  • Featuring
  • Shriparna Saha
  • Commodity
  • Crude Oil LNG Shipping
  • Length
  • 1:22
In this week's Market Movers Asia with Shriparna Saha:
  • Panama Canal transit issues impact US-Asia LNG flows
  • Asian oil buyers watch for OPEC+ output adjustments
  • Thermal coal market expects demand upturn from China, India
  • Lithium salts prices bearish on weak demand
View Full Transcript
This week, growing restrictions on Panama Canal transit could continue to impact LNG shipments from the US to Asia.
LNG vessels may now have to participate in auctions to book slots. Some South Korean lifters of US LNG have already started bypassing the Canal.
Asian oil buyers will be keeping a close eye on the OPEC+ ministerial meeting on Nov. 26, which will determine production plans for early 2024.
With oil prices easing in recent weeks, traders will be looking out for any extension of existing production cut pledges.
The Asian thermal coal market could see demand emerging from China and India, which is likely to support prices.
Buyers in China are expected to tap the spot market for low-CV coal as Indian buyers return after the festive season.
In metals, China’s alumina prices could come under pressure on shrinking demand and high supply.
China’s lithium salts prices could fall further on weak demand from downstream consumers, even though domestic EV and battery sales remain strong.
I’m Shriparna Saha, thank you for kicking off your Monday with S&P Global Commodity Insights.