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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Rare US-Australia Gasoline Flow Emerges: Argus

OIL PRODUCTS

Rare gasoline flows from the US-Australia have emerged and are expected to arrive Feb-March, market participants told Argus.

  • The STI Madison, Midnight Glory, and Gas are transporting around 1.25m bbl of gasoline from the US to Australia.
  • The Mideast Glory could move around 270k bbl of gasoline to Kwinana city in mid-Feb, according to Vortexa data.
  • The flow is atypical and was last workable earlier in December when freight levels were lower and US supplies were higher.
  • A source told Argus that there were no gasoline imports from the US to Australia from July 2020-Nov. 2023.
  • Most of Australia’s gasoline imports come from Singapore.
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