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Exports, consumers drive China’s 6.9 percent growth in 2017

“Continued strong demand should help support China’s exports, said Louis Kuijs of Oxford Economics” reports foxbusiness.com. Earlier Thursday, China’s foreign exchange regulator said the country’s cross-border capital flows hit a turning point in 2017 as foreign currency reserve levels stabilized after two years of declines, the country’s foreign exchange regulator.Wang Chungying, a spokeswoman for China’s State Administration of Foreign Exchange, told reporters in Beijing that the supply and demand of foreign exchange “have shifted to a basic equilibrium.”. China’s foreign exchange reserves rose for 11 straight months from January-December, expanding…

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News Oil 

China says it will limit oil, refined product exports to North Korea

“China’s Commerce Ministry said on Friday it will limit exports of crude oil, refined oil products, steel and other metals to North Korea, in line with tough new sanctions imposed by the United Nations for Pyongyang’s missile tests” writes Kcna Reuters for cnbc.com. In November, China, one of North Korea’s top trading partners, exported no oil products to the isolated country, apparently going above and beyond the U.N. restrictions. Among the measures in the December resolution, the U.N. prohibits nearly 90 percent of refined petroleum exports to North Korea by…

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AUD Markets News 

Australia to permit medicinal cannabis exports in bid to capture lucrative market

“U.S. consultancy company Grand View Research last year forecast the global medicinal cannabis market would be worth $55.8 billion by 2025” writes Midwest Communications Inc for 95kqds.com. Despite growing demand, only Uruguay, Canada and the Netherlands have so far legalised the export of medicinal marijuana.SYDNEY (Reuters) – Australia said on Thursday it planned to become the fourth country in the world to legalise medicinal marijuana exports in a bid to score a piece of the estimated $55 billion global market. Source: 95kqds.com Share This:

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Coal-mining company sues Washington state for blocking export terminal to Asia

“Coal mining company Lighthouse Resources sued Washington state in federal court Wednesday for denying a permit to build an export terminal to ship western coal to Asia” writes Josh Siegel for washingtonexaminer.com. The company says an existing Washington state lease already allows coal exports at the site, which Lighthouse seeks to redevelop. Lighthouse estimates the terminal would ship 44 million tons of coal a year, and increase the annual value of U.S. exports by more than $2.5 billion. Source: washingtonexaminer.com Share This:

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Iran to increase rebar exports in 2018: sources

“TEHRAN- Thanks to decrease in domestic demand, Iranian rebar exports will increase in 2018, Platts quoted Iranian industry sources” reports tehrantimes.com. The country’s domestic production capacity is far outstripping its consumption while domestic rebar demand has decreased.Domestic rebar demand during the first eight months of the Iranian year, over (March 21-November 21), totaled 3.79 million metric tons, down 12 percent year on year, according to a report published on the Iranian Steel Producers’ Association (ISPA). Source: tehrantimes.com Share This:

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News Oil 

U.S. crude, natural gas output at multi-year records in Oct -EIA

“Crude exports rose to 1.73 million bpd in October compared with 1.47 million bpd in September” reports foxbusiness.com. October crude production rose 167,000 barrels per day to 9.64 million bpd, according to the EIA’s monthly production report.September’s oil production figures were revised down by 11,000 bpd to 9.47 million bpd, the EIA added.Total refined oil product exports rose to 3.6 million bpd in October, with gasoline exports rising to 732,000 bpd and distillate fuel exports rising to 1.5 million bpd. Source: foxbusiness.com Share This:

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Wells Fargo strikes cautious tone on iPhone based on export data from Chinese provinces

“Mobile phone export data from Chinese provinces has left Wells Fargo analysts feeling cautious about Apple Inc.’s AAPL, +0.51% current iPhone cycle, according to a note published Thursday” writes Ciara Linnane for marketwatch.com. Including October, exports were down 15% on a dollar basis and down 28% on a unit basis.Meanwhile, exports from Zhengzhou Customs, the largest port for iPhone shipments, were up 17% on a dollar basis in November, while units were down 8%. Source: marketwatch.com Share This:

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Natural gas vs. electricity exports: question of profitability

“Considering the above mentioned factors, Energy Ministry can play a significant role in increasing the cost-effectiveness of electricity exports compared to gas exports through the construction of high-efficiency power plants and the reduction of transmission losses” reports tehrantimes.com. Considering the fact that the country can either export natural gas directly or use it as fuel for its power plants to produce electricity and then export the electricity, begs the question of “which one is more profitable?” To make a rational comparison between the two options, a variety of factors including…

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Japan’s exports rise 16% in November

“As the global economy continues to recover, analysts expect Japan’s exports to keep the uptrend in the near term” writes Megumi Fujikawa for marketwatch.com. TOKYO–Japanese exports rose for a 12th straight month in November, helped by strong overseas demand for steel and equipment to make semiconductors, data from Japan’s finance ministry showed Monday.Japan’s trade balance for November was a surplus of Y113.4 billion, better than a Y5.8 billion deficit estimated by a Nikkei survey.Strong exports arising from solid global demand and a weaker yen have been the main driver of…

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