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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: Nordic Oct Flips Green

POWER
BulletPower BulletsEnergy BulletsCommodities

The Nordic October contract has flipped into green territory, after trading slightly down at around 07:20 BST, amid works at 1.17GW Forsmark 3 unit being extended by 10 days to 28 Oct, with price increases in neighbouring EU power markets lending some support.

  • Nordic Base Power OCT 24 up 3.3% at 22 EUR/MWh
  • Germany Base Power OCT 24 up 2.6% at 73.81 EUR/MWh
  • EUA DEC 24 up 0.4% at 63.05 EUR/MT
  • TTF Gas OCT 24 up 2.8% at 34.02 EUR/MWh
  • Vattenfall has extended works at its 1.17GW Forsmark nuclear unit 3 to 28 October from 18 October due to “additional work,” latest Remit data show.
  • However, Finland’s 890MW OL2 is still expected back on 6 Oct, with the 507MW Loviisa returning on 4 Oct.
  • The Norwegian balance is expected to remain firm on the day, with the balance ending at +2.63TWh on 4 Oct compared to +2.47TWh in the previous forecasts.
  • And Sweden’s hydrological balance has been relatively unchanged on the day at +2.05TWh on 4 Oct vs +2.00TWh in the previous forecasts.
  • Closer in, Norwegian wind is expected at just 2-9% load factors over 23-24 Sept – which could raise prices sharply from the weekend coupled with higher demand.
  • Average temperatures in the Nordics are anticipated to be above the norm over the 20-28 Sept, with a downward revision of temps noted over 20-22 Sept. Temps will then flip below over 29-30 Sept. 
224 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Nordic October contract has flipped into green territory, after trading slightly down at around 07:20 BST, amid works at 1.17GW Forsmark 3 unit being extended by 10 days to 28 Oct, with price increases in neighbouring EU power markets lending some support.

  • Nordic Base Power OCT 24 up 3.3% at 22 EUR/MWh
  • Germany Base Power OCT 24 up 2.6% at 73.81 EUR/MWh
  • EUA DEC 24 up 0.4% at 63.05 EUR/MT
  • TTF Gas OCT 24 up 2.8% at 34.02 EUR/MWh
  • Vattenfall has extended works at its 1.17GW Forsmark nuclear unit 3 to 28 October from 18 October due to “additional work,” latest Remit data show.
  • However, Finland’s 890MW OL2 is still expected back on 6 Oct, with the 507MW Loviisa returning on 4 Oct.
  • The Norwegian balance is expected to remain firm on the day, with the balance ending at +2.63TWh on 4 Oct compared to +2.47TWh in the previous forecasts.
  • And Sweden’s hydrological balance has been relatively unchanged on the day at +2.05TWh on 4 Oct vs +2.00TWh in the previous forecasts.
  • Closer in, Norwegian wind is expected at just 2-9% load factors over 23-24 Sept – which could raise prices sharply from the weekend coupled with higher demand.
  • Average temperatures in the Nordics are anticipated to be above the norm over the 20-28 Sept, with a downward revision of temps noted over 20-22 Sept. Temps will then flip below over 29-30 Sept.