Daily Brief Energy/Materials: China Molybdenum Co Ltd H, Natural Gas, UPL Ltd and more

• With a day to go in the review period, there could be 2 changes for the iShares China Large-Cap (FXI) (FXI US) in June.
• There should be more than 1x ADV to buy on one of the adds while there will be nearly 5x ADV to sell on one of the deletes.
• There will be positioning in all the potential changes but there appears to be higher interest in one of the potential adds and one of the potential deletes.

• Market fears production return will impact prices, with Wood McKenzie predicting increase in June production
• Northeast, Permian, and Haynesville expected to see production rebound in the coming months
• Price rally in US market driven by short summer positions, but weather will play a key role in price movements, with heat expected in the coming days potentially mitigating any retracement

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Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

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