- Chinese refiners are likely to boost refined oil products exports in the last two months of 2022 and into early 2023 after receiving the biggest allocation from Beijing this year, trade sources and analysts said on Monday.
China's central bank said on Friday it would lower the interest rate for housing provident fund loans by 0.15 percentage points for first-time home buyers from Oct. 1, suggesting an urgency for policymakers to prop up the embattled property market.
* China premiums at $20-$45 an ounce this week. * Premiums in Hong Kong at $0.5-$4/oz, Singapore at $2.50-$3. By Rajendra Jadhav and Ashitha Shivaprasad. The physical gold market in India flipped to a premium this week as demand improved ahead of festivities, while Chinese premiums stayed elevated.
By Mai Nguyen and Siyi Liu. The copper spot premium in top consumer China could stay elevated in the next few months, analysts and traders said on Friday, as demand for the metal has improved on the back of government stimulus. The spot premium for refined copper was at 605 yuan a tonne on Thursday, up from 50 yuan a tonne at the end of last year.
Prices of copper on Friday were set to register a quarterly drop as macro bearishness outweighed supply tightness, while higher-than-expected China factory data raised hopes of better demand from world's biggest metal consumer.
Hong Kong stocks opened lower on Friday morning following another sell-off on Wall Street after a temporary relief rally. Macro News: China's official manufacturing purchasing managers index rose to 50.1 from 49.4 in August, reported Bloomberg, citing the National Bureau of Statistics.
Chinese local governments may relax the floor on mortgage rates for first-time home buyers in some cities in phases, the central bank said on Thursday, in a bid to prop up property prices and revive a flagging engine of the world's second-largest economy.
China's foreign exchange regulator named and shamed 10 banks that had assisted illegal capital outflows, vowing to crack down on fake forex transactions in authorities' latest effort to stabilise the sliding yuan.
Prices of most Shanghai base metals rose on Friday, as China data showed a surprise expansion in September factory activity and a possible ban on Russian metal delivered to the London Metal Exchange raised supply concerns.
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