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Market Movers Mar 4-8: China's 'Two Sessions'; India-Pakistan tensions in focus

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Watch: Market Movers Mar 4-8: China's 'Two Sessions'; India-Pakistan tensions in focus

This week, Asian commodity markets will be on the lookout for any new key announcements from China after key political meetings that will provide cues on measures that Beijing will undertake to boost its economic growth. Also in focus: on the ongoing India–Pakistan geopolitical conflict, India's appetite for LNG, and China's strong interest in Indonesian thermal coal and Chinese domestic supply.

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This week: Asian commodity markets will keep an eye on the ongoing India–Pakistan geopolitical conflict, India's appetite for LNG, and China's strong interest in Indonesian thermal coal and Chinese domestic supply.

But first, markets will be on the lookout for any new key announcements from China after key political meetings happening this week that will provide cues on measures that Beijing will undertake to boost its economic growth amid the ongoing US-China trade tensions as well as weakening domestic consumption growth. The meetings could also give a direction to future growth in different sectors and set the stage to estimate the demand-supply fundamentals.

The recent military tensions between India and Pakistan are also keeping commodity industry players on enterhooks. Any escalation of conflict between the two countries may impact currency markets and in turn affect their respective oil import bills. Other commodities such as gold and shipping markets in the region could also be affected if the conflict persists although efforts are underway to de-escalate the tensions on the India-Pakistan border.

In LNG, India's buying interest for spot cargoes is in focus this week. Subdued demand from northeast Asia end-users lacking incremental spot requirements contrasted with firm buying interest from their Indian counterparts last week. India's appetite for LNG saw the JKM-India price spread hit the narrowest in over 15 months and market players would be keen to watch if demand from the South Asian country will continue.

And finally in thermal coal, market players expect the uptrend in seaborne and Chinese domestic prices to continue amid import curbs on Australian coal as well as stringent mine checks in the aftermath of the Inner Mongolia mine accident last month. Kalimantan low-CV thermal coal demand experienced a bullish week as demand for low CV coal came back strongly after the Lunar New Year.

That's it for this week. Thanks for kicking off your Monday with us. Have a great week ahead!