The HC Commodities Podcast Trading in Asia with Iain Lawson
Dec 3, 2025
Ian Lawson, a senior advisor at Baringa with decades in the commodity trading space, dives into the dynamics of trading in Singapore. He discusses why the city remains a central hub, its unique regulations, and the vital role of talent and a common law framework. Lawson explores the impact of regional gray markets and how Asia's fragmentation contrasts with Western networks. He also delves into LNG’s evolution, power market challenges, and the crucial interplay of personal relationships in deal-making across diverse cultures in Asia.
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Why Singapore Became Asia's Commodity Hub
- Singapore's commodity role grew from geography and a deliberate ecosystem approach that imported talent and legal/regulatory stability.
- Ian Lawson says Singapore now provides critical mass, training and institutions that make it Asia's commodity capital.
Refineries Valued As Trading Options
- Ian Lawson describes valuing refineries as optionality rather than just forward cash flows, changing who buys them.
- He contrasts Shell's downstream view with Glencore treating a refinery as a margin-optimization tool.
Match Location To Function
- For trading, base operations in Singapore to be near other traders and information flows.
- For origination, place people locally because Asian customers and practices differ sharply by country.