MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

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CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

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

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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Henry Hub Holds Just Above Lowest Since Apr 2023

NATGAS

Henry Hub front month is trading just above previous close levels after falling to the lowest since April 2023 amid curtailed LNG export flows and steady production.

    • US Natgas MAR 24 up 0.1% at 2.01$/mmbtu
    • US Natgas AUG 24 down -0.5% at 2.47$/mmbtu
    • US Natgas FEB 25 down -0.2% at 3.55$/mmbtu
  • Feedgas supply to US LNG export terminals is back up to 13.5bcf/d today according to Bloomberg after falling as low as 12.43bcf/d yesterday. The increase is driven by a recovery in Cameron and Freeport supplies after dropping yesterday but supplies to Corpus Christi and Freeport are still below normal.
  • The latest US weather forecast is relatively unchanged from yesterday with the lower 48 forecast holding above normal this week before cooling into the second week of the outlook as cold weather expands across much of the US. Lower 48 natural gas demand is holding just below the previous seasonal five year average with today slightly lower at 92.9bcf/d.
  • US domestic gas production is today holding steady at 104.2bcf/d according to Bloomberg and just below an average of 104.5bcf/d so far in Feb.
  • Export flow to Mexico is almost unchanged on the day at 6.26bcf/d today.
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