MNI China Daily Summary: Friday, February 7

MNI: GERMANY DEC INDUSTRIAL PRODUCTION -2.4% M/M

MNI: GERMANY DEC TRADE BALANCE E20.7BLN

MNI: PBOC Net Drains CNY100.3 Bln via OMO Friday

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MNI BRIEF: Fed's Waller - Dollar To Remain Reserve Currency

MNI JAPAN DEC HOUSEHOLD SPENDING +2.7% Y/Y; NOV -0.4%

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -174 BCF TO 2,397 BCF JAN 31 WK

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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POWER: German March Power Tracks Slight Weekly Decline

POWER
CEEMEAEurozoneEnergy BulletsGermanyBulletPower BulletsCommodities

Germany March power is tracking a small weekly net decrease of below 1% with downside from losses in EUAs weighed against forecasts for colder and less windy weather and small weekly gains in EU gas prices. 

  • Germany Base Power MAR 25 down 1.1% at 105.99 EUR/MWh
  • EUA DEC 25 down 0.4% at 81.57 EUR/MT
  • TTF Gas MAR 25 down 0.9% at 54.035 EUR/MWh
  • German Spark Spreads M1  down 7.3% at -17.2193 EUR/MWh
  • EU ETS December 2025 is tracking a weekly net decline of around 3% with the potential of US tariffs on Europe and weak economic data out of Europe weighing on sentiment. The next German ETS CAP3 auction will clear today 11:00CET.
  • Wind output in Germany is forecast to decline to 19.12GW on Saturday and to 10.66GW on Sunday during base-load hours, compared with 29.46GW on Friday according to SpotRenewables.
  • The latest 2-week ECMWF weather forecast for Dusseldorf suggests mean temperatures mean temperatures will remain in line with the average for the remainder of this week before falling below the average. However, the latest monthly forecast suggested mean temperatures have been revised higher for the second half of February and March.
  • Mean temperatures in Dusseldorf are forecast at 4.1C on Saturday and at 3.4C on Sunday, from 3.5C on Friday.
  • Power demand in Germany is forecast to decline to 53.44GW on Saturday and to 49.9GW on Sunday, down from 61.96GW on Friday according to Bloomberg.
  • Residual load in Germany is forecast to edge down to 25.68GWh/h on Saturday before rising to 31.28GWh/h on Sunday, compared with 26.57GWh/h on Friday according to Reuters.
  • Germany’s hydro balance has been revised higher to end at -150GWh on 21 February, down from -203GWh a day earlier.
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Germany March power is tracking a small weekly net decrease of below 1% with downside from losses in EUAs weighed against forecasts for colder and less windy weather and small weekly gains in EU gas prices. 

  • Germany Base Power MAR 25 down 1.1% at 105.99 EUR/MWh
  • EUA DEC 25 down 0.4% at 81.57 EUR/MT
  • TTF Gas MAR 25 down 0.9% at 54.035 EUR/MWh
  • German Spark Spreads M1  down 7.3% at -17.2193 EUR/MWh
  • EU ETS December 2025 is tracking a weekly net decline of around 3% with the potential of US tariffs on Europe and weak economic data out of Europe weighing on sentiment. The next German ETS CAP3 auction will clear today 11:00CET.
  • Wind output in Germany is forecast to decline to 19.12GW on Saturday and to 10.66GW on Sunday during base-load hours, compared with 29.46GW on Friday according to SpotRenewables.
  • The latest 2-week ECMWF weather forecast for Dusseldorf suggests mean temperatures mean temperatures will remain in line with the average for the remainder of this week before falling below the average. However, the latest monthly forecast suggested mean temperatures have been revised higher for the second half of February and March.
  • Mean temperatures in Dusseldorf are forecast at 4.1C on Saturday and at 3.4C on Sunday, from 3.5C on Friday.
  • Power demand in Germany is forecast to decline to 53.44GW on Saturday and to 49.9GW on Sunday, down from 61.96GW on Friday according to Bloomberg.
  • Residual load in Germany is forecast to edge down to 25.68GWh/h on Saturday before rising to 31.28GWh/h on Sunday, compared with 26.57GWh/h on Friday according to Reuters.
  • Germany’s hydro balance has been revised higher to end at -150GWh on 21 February, down from -203GWh a day earlier.