MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Consolidates Recent Gains

IRON ORE

SGX Iron Ore consolidated recent gains yesterday, finishing Wednesday's trading little changed after retreating from early highs through the session.

  • The October contract finished at $114.80/tonne, we sit ~18% above August lows and a touch off the four month high registered in early September.
  • Futures firmed yesterday in Asia amid positive demand signals from China's autumn construction period. Inventory levels at major Chinese steel mills fell 11.5% in late August according to data from China Iron and Steel Association.
  • Gains were pared through the US session after the ISM Services print weighed on sentiment.
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