MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

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

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

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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Mid-Day Gas Summary: TTF Finds Support

NATGAS

TTF has continued to find support during the European morning, testing the highs of July 19 and supported by further buying interest from Egypt for LNG cargoes.

  • TTF AUG 24 up 1.9% at 32.23€/MWh
  • Egypt is also further increasing its LNG spot buying to cope with power demand over the summer. Traders said it is looking for another 5 cargoes in Aug-Sep.
  • Norwegian pipeline supplies to Europe are today nominated at 320.2mcm/d with outages at Visund, Troll and Karsto reducing capacity by 36.6mcm/d today.
  • European gas storage is up to 83.15% full on July 22 according to GIE compared to the five-year average of 73.45% with near normal injection rates.
  • LNG stockpiles held by Japanese utilities increased 6.82% w/w to 2.35m tons in the week to July 21 from 2.2m tons the previous week, according to data released by the trade ministry.
  • Ukraine Sanctions on Lukoil a Significant Risk for Hungarian and Slovakian Refineries, Bloomberg reported in a headline.
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