MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

RPT-MNI INTERVIEW: ISM Choppiness Not A Clear Signal For Worry

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

Factory Orders Decline as Non-EU Orders Dip

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

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

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

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Henry Hub Weakens

NATURAL GAS

US Henry Hub has fallen later during the day as a fall in feedgas to the US’ largest LNG terminal offsets a small increase in domestic demand.

  • US Natgas OCT 23 down -0.9% at 2.61$/mmbtu
  • US Natgas MAR 24 up 0.7% at 3.24$/mmbtu
  • Feedgas flows to Cove Point LNG are still halted due to maintenance and Sabine Pass flows have also fallen today to 4.1bcf/d after briefly recovering up to 4.5bcf/d on 23 Sep. Total natural gas delivery flows to US LNG export terminals are today estimated down at 12.0bcf/d.
  • Domestic natural gas consumption has edged back above normal for the time of year up to 67.5bcf/d with a mixed US weather forecast. The two week weather forecast is relatively unchanged from last week with below normal temperatures expected on the West Coast and above normal elsewhere, especially in central areas.
  • US domestic natural gas production was yesterday at 101.7bcf/d and just slightly higher than output seen over the previous week of around 101.3bcf/d.
  • Export flows to Mexico are today estimated down slightly from last week at 6.6bcf/d.
  • Temperature forecasts for the next 6-10 days are above average for the central and Eastern parts of the USA.
Energy BulletsCommodities
Energy BulletsCommodities

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