MNI: PBOC Net Drains CNY308.4 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1659 Thurs; +1.55% Y/Y

CHINA PBOC CONDUCTS CNY19.2 BLN VIA 7-DAY REVERSE REPOS THURS

CHINA OCT EXPORTS +12.7% Y/Y VS MEDIAN +5.0% Y/Y: CUSTOMS

CHINA YTD EXPORT +5.1% Y/Y VS JAN-SEP +4.3% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1659 THURS VS 7.0993

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI:AUSTRALIA SEP TRADE BALANCE A$+4609

EZ/UK Bond Supply Calendar: Spain, France Auction on Wednesday

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

AUSTRALIA DATA: Exports To Asia Weak, Commodity Prices Lower

AUSTRALIA DATA
APACAustraliaData BulletBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

The prices of key Australian commodity exports were all lower in September weighing on merchandise exports. Quantities of commodity shipments were more mixed. Export growth to Australia’s key Asian destinations was generally weak.

  • While shipments to China rose in September they fell 16.2% y/y after -16.3%. They were down 16% y/y to Japan and 13.2% y/y to Korea. There has been a global trend of strong exports to the US and Australia’s rose 19.3% y/y but they are a small market compared with Asian countries.
  • The unit values of iron ore, coal and LNG exports all fell in September. Iron ore and hard coking coal had been down in August. Volumes of iron ore and hard coking coal rose in September predominantly driven by China but also Taiwan, and India and Turkey for the latter. Quantities fell for thermal & semi-soft coal due to Japan, India and the Netherlands. LNG was also lower. 

Australia merchandise exports to Asia y/y%

Keep reading...Show less
161 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The prices of key Australian commodity exports were all lower in September weighing on merchandise exports. Quantities of commodity shipments were more mixed. Export growth to Australia’s key Asian destinations was generally weak.

  • While shipments to China rose in September they fell 16.2% y/y after -16.3%. They were down 16% y/y to Japan and 13.2% y/y to Korea. There has been a global trend of strong exports to the US and Australia’s rose 19.3% y/y but they are a small market compared with Asian countries.
  • The unit values of iron ore, coal and LNG exports all fell in September. Iron ore and hard coking coal had been down in August. Volumes of iron ore and hard coking coal rose in September predominantly driven by China but also Taiwan, and India and Turkey for the latter. Quantities fell for thermal & semi-soft coal due to Japan, India and the Netherlands. LNG was also lower. 

Australia merchandise exports to Asia y/y%

Keep reading...Show less