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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Lowest Since Late August

IRON ORE

SGX Iron Ore Futures were pressured on Monday extending falls seen during China's Golden week.

  • The November contract fell ~4% yesterday and finished ~7% below the high from 2 Oct closing at $110.50/tonne.
  • China Home Sales fell ~17% during the Golden Week Holiday compared with a year prior with the tepid data scoring continuing fragility in the property sector. More here.
  • Rio Tinto, the world's second largest Iron Ore producer, left its shipping guidance for 2023 unchanged, but noted that the shipments will include 45-50mn tonnes of lower grade Iron Ore. More here.
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