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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Pressured On Monday As Demand Concerns Weigh

IRON ORE

SGX Iron Ore fell ~2.5% on Monday, breaching the $130/tonne handle, as demand-side concerns weighed on the space.

  • The January contract finished dealing at $127.90/tonne, ~4.5% below the cycle highs seen in late November.
  • Participants have noted they are not seeing any uptick in demand, as wintry conditions slow business projects (BBG).
  • Iron Ore Inventories at ports expanded for a second consecutive week and shipments from Brazil rose in November compared to a year earlier.
  • A key policy meeting of Chinese leaders is expected in coming weeks and more details on monetary, fiscal and industrial policies for 2024 is expected (BBG).
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