MNI China Daily Summary: Monday, April 29

MNI BRIEF: China Pushes Back Against Japan's Semiconductor Threat

MNI: China CFETS Yuan Index Down 0.33% In Week of Apr 26

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

MNI: PBOC Sets Yuan Parity Higher At 7.1066 Mon; -4.49% Y/Y

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

Sequential SA Services CPI Estimated To Have Slowed Markedly

April Inflation: Services Decelerate, Core Goods Likely Soft

MNI: GERMANY APR CPI +2.2% Y/Y

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Erases Early Losses, NDRC Looks To Increase Market Supervision

IRON ORE

SGX Iron Ore futures were pressured early in yesterday's Asian session, China's NDRC noted it would increase supervision and crack down on illegal activities (BBG). Last week the NDRC had sent personnel to the Dalian Commodity Exchange last week to explore strengthening market supervision.

  • Losses were erased through the session as sentiment remains strong in the space and the December contract finished at $132.65/tonne.
  • Iron Ore continues to be supported by the Chinese government's stimulus pledges, which includes 1TN yuan debt issuance for financing for urban village renovation and affordable housing.
  • Technically the uptrend in SGX Iron Ore is firmly intact, bulls target a break of cycle highs ($135.05/tonne) which opens the $140/tonne handle. Support comes in at the 20-Day EMA ($127.26/tonne).
Metals bulletDataEM BulletHomepageCommoditiesBulletMarketsEmerging Market NewsForeign Exchange Bullets

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.