Citing anonymous experts, S&P Global Platts reports, during the early Asian session on Wednesday, mentioned that the latest flare-up between Australia and China has ensnared more commodities but the likelihood of LNG (Liquefied Natural Gas) being impacted is relatively low. Though the analysis doesn’t rule out vulnerabilities stemming from an oversupplied market and China’s growing options for gas imports. Key quotes What may fly under the radar is how easy it has become for China to find gas supply alternatives between an oversupplied LNG market, pipeline imports, growing domestic production and slower demand growth. Iron ore and coal are Australia’s two biggest exports, natural gas is the fourth-largest, with the top ten also comprising gold, aluminum ores, beef and crude oil. A lot of this goes to China. The contractual nature of LNG trade and energy security concerns protect LNG from being on the receiving end of China’s predilection for using trade to lash out, but market participants aren’t discounting the possibility either, wary of heightened uncertainties due to the pandemic. FX implications Following the news, the AUD/USD pair refreshed intraday low to 0.6524 while extending its pullback moves from 10-week top flashed the previous day. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Negative interest rates in the US are unlikely any time soon – Goldman Sachs FX Street 2 years Citing anonymous experts, S&P Global Platts reports, during the early Asian session on Wednesday, mentioned that the latest flare-up between Australia and China has ensnared more commodities but the likelihood of LNG (Liquefied Natural Gas) being impacted is relatively low. Though the analysis doesn’t rule out vulnerabilities stemming from an oversupplied market and China's growing options for gas imports. Key quotes What may fly under the radar is how easy it has become for China to find gas supply alternatives between an oversupplied LNG market, pipeline imports, growing domestic production and slower demand growth. Iron ore and coal are Australia's two… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
