Commodities Focus

Over the past 20 years, Brazil's growth in the production of feedstuffs like soybeans and corn has been remarkable. In the process, it has become a powerhouse exporter. To accomplish this, it took the convergence of Brazil modernizing its agricultural production and transportation systems along with the equally meteoric demand growth of a willing buyer, China. S&P Global Commodity Insights' chief agricultural economist Paul Hughes speaks with feed and grains senior analyst Anamaria Martins and grains and oilseeds pricing manager Rafael Savoia about the factors behind this astounding transformation, the implications for world trade, the beneficiaries, and what is likely ahead. White paper: How China's aging demographics will affect food and agricultural commodities (subscriber content)

Asian aluminum markets continue to see lackluster demand and ample stocks pressuring premiums, though the sporadic reopening of the Chinese import arbitrage window is providing support across the region. Further upstream in the alumina markets, flat demand remains a drag on prices globally, but cost pressures and output curtailments are keeping significant declines at bay. As the market looks at what's ahead for 2024, YuenCheng Mok, Senior Managing Editor of Asia nonferrous metals at S&P Global Commodity Insights discusses the key developments in the Asian alumina and aluminum markets with Jenson Ong and Germaine Lee from the Asia nonferrous metals team, and Lucy Tang, market specialist for Metals. In this podcast, find out what's in-store in the near term for these markets.

Chinese copper markets are showing signs of recovering from the slump that hit the industry in the second quarter pf this year. The clean concentrate spot TCs are declining on increased demand for cargoes and cathode import interest are improving on tighter spot supplies. As the market heads into negotiation season, YuenCheng Mok, Senior Managing Editor of nonferrous metals at S&P global Commodity Insights discusses the key trends in the Chinese copper concentrate and cathode markets with Jesline Tang, Editor with the nonferrous metals team and Han Lu, senior editor with the team. Find out what's in-store in the near term for these markets and the expectations for 2024 benchmark levels. More listening options:

With bearish fundamentals characterizing the global LNG market, what role will US exporters play for Europe this winter? Following the Russian invasion of Ukraine in early 2022 and subsequent decoupling between LNG and natural gas in Europe, the US has played an even larger role in the region's energy security. Global LNG markets have changed dramatically over the past year, with the record prices and extreme volatility of 2022 giving way to more bearish fundamentals ahead of the coming winter. Under those circumstances, what role will US exporters play for Europe this winter? Following the Russian invasion of Ukraine in early 2022 and subsequent decoupling between LNG and natural gas in Europe, the US has played an even larger role in the region's energy security. In this podcast, S&P Global Commodity Insights' Americas and Atlantic LNG experts Corey Paul and Margaret Rogers examine how well the US is placed as a supplier this winter as Europe navigates another peak demand season following the loss of Russian pipeline gas. Related prices: LNG FOB US Gulf Coast Cargo (LGCSM01) LNG DES Northwest Europe Marker (AASXU00) LNG DES JKM Spot Cargo (AAOVQ00)

High density polyethylene product consumption and market behavior are key indicators for consumer spending. The US and major export outlet Asia are climbing out of a price slump created by HDPE oversupply, attractive cost margins and slow-to-recover demand. With about 1.5 million mt/year of North American ethane-advantaged capacity starting between September and Q1 2024, run rate discipline will be crucial, especially as low prices encourage virgin resin substitution for recyclers despite impending sustainability targets in the US. Global polymers pricing lead Kristen Hays leads a discussion with global sustainable chemicals lead Heng Hui, US polyethylene editor Colleen Ferguson and US recycled polymers senior editor Antoinette Smith about the main drivers behind HDPE prices and what market participants expect in the short-term as the supply and demand dynamic struggles to find equilibrium. Related prices: HDPE Blowmolding FAS Houston (AAWCZ00) Recycled HDPE Natural Pellets FOB Chicago (ARNPA00) DON'T MISS: Chemical Week's Billion-Dollar Club: Ranking the world's top chemical producers

The podcast discusses the impact of drought restrictions at the Panama Canal on shipping markets, including longer wait times and increased freight costs. It explores options for ship owners, such as offloading cargo and rerouting ships. The potential impact of El Nino on shipping markets and the risks faced by US agricultural producers are also explored.

This podcast discusses the challenges in the global recycled polymer markets, impact of imported P.T. resin, challenges in the European market, lack of mandates for recycled materials, and outlook for global recycled polymer markets and demand.

US gas prices have dropped, resulting in narrow margins for producers. Despite recent capex cuts, gas production remains near record highs. The podcast discusses the outlook for US output as producers readjust to leaner margins and the impact of low prices on their strategies.

It's been a rough couple of years for US corn and soybeans. 2022 brought drought, record-low Mississippi River water levels, and ultimately sky-high grains and oilseeds prices. The 2023 planting season was initially met with dry weather, causing concern of low yields come harvest time, but have conditions turned around since then and if not, what would that mean for prices and for domestic and export demand? S&P Global Commodity Insights' Jennifer Pedrick, Pete Meyer, Paul Hughes and Luke Lundgren examine the progress of these crops so far in the crop year, and look toward the possible outcomes of the upcoming harvest on the US market and trade flows in South America and around the globe. We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz

A year after a historic short squeeze sent LME nickel metal prices soaring above $100,000/mt, industry players remain divided over their pricing preferences in the nickel market with some still referencing the LME, while Chinese market participants have largely moved to other alternatives such as sulfate-basis pricing and SHFE nickel. Following the Indonesian government's announcement of its plan to develop a nickel index, as well as proposed changes from the LME to strengthen its legacy position, what are the potential implications for the nickel market, and how could near-term supply-demand fundamentals influence this? Leah Chen, editor of the S&P Global Commodity Insights non-ferrous team discusses the impact of the black swan event as well as recent developments in the nickel industry with Jesline Tang, editor of battery metals pricing team, and Charles Thompson, editor of EMEA nickel, aluminum and secondary alloys. Related price assessments: Nickel sulfate DDP China BATNS04 MHP CIF NA basis LME BATMC00 MHP CIF NA basis NS BATMB00 (percentage) MHP CIF NA basis NS BATMA00 MHP CIF NA basis NSME00 MHP CIF NA basis LME BATMD00 (percentage) We want to hear about your podcast preferences so we can keep improving our shows. Take our podcast survey here and share your thoughts: https://www.surveylegend.com/s/4xyz