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Aluminium premiums in Europe slide by half since peak LONDON: Surcharges for physical aluminium in Europe have spiralled down by nearly half, good news for industrial consumers such as beer can makers which had bitterly complained about warehouse backlogs of up to two years for delivery of the metal. The unraveling of financing deals at warehouses, together with heavy Chinese exports, has unleashed a glut of aluminium, while demand remains poor. Premiums paid over the LME cash price were mostly quoted in a range of $250-$290 a tonne for duty-paid material in Rotterdam. That is a fall from premiums of $370-$390 in early March and about half the levels at a peak of $500 in November 2014."It's going down very fast and I don't know where it's going to stop," said one trader, who added that there were some deals with premiums as low as $230. "If you have a lot of stocks and you want to get rid ...


Cocoa, sugar, coffee slide on firmer dollar LONDON: Cocoa, sugar and coffee prices slid in sympathy with other commodity markets on Monday, pressured by a stronger dollar, with the cocoa trade digesting a weak North American grind and sugar pressured by plentiful supplies. The softs complex followed oil prices down. Crude fell towards $62 a barrel on the strong dollar and as Saudi Arabian Oil Minister Ali al-Naimi said production would stay around 10 million barrels per day in April.New York cocoa ...

Gold below $1,200 on steadier dollar; eyes on Greece, China LONDON: Gold fell below $1,200 an ounce on Monday as the dollar steadied, while traders assessed risks that Greece may default and China's new policy measures to shore up the world's second-largest economy. Spot gold was down 0.6 percent at $1,196.63 an ounce by 1413 GMT, while US gold futures for June delivery fell $6.50 to $1,196.60 an ounce. The dollar was up 0.3 percent versus a basket of leading currencies on Monday, having suffered ...

Copper retreats after push to three-week peak LONDON: Copper jumped to a three-week high on Monday after China eased monetary policy to stimulate a slowing economy, only for prices to reverse as hopes of stronger demand receded. Three-month copper on the London Metal Exchange hit $6,173 a tonne, the highest since March 26, before falling to $6,000 a tonne at 1441 GMT, down 1 percent on the previous close. China's easing, though more aggressive than expected, had been expected and so was ...

Russian wheat lowest in Iraq's 50,000 tonnes hard wheat tender HAMBURG: Russian wheat was offered lowest at $242.60 a tonne c&f free out (ciffo) in the tender from Iraq's state grains board to buy at least 50,000 tonnes of hard wheat, European traders said on Monday.The tender closed on Monday and offers must remain valid up to Thursday, April 24, traders said. No purchase had yet been made, they said.Copyright Reuters, 2015

Gold pares gains after US inflation data LONDON: Gold pared gains on Friday, heading for a second weekly drop, after data showing US consumer prices rose in March tempered speculation the Federal Reserve will delay its first interest rate rise in nearly a decade. The metal held above the $1,200 an ounce level, however, which it broke above earlier this week after a run of downbeat US data led analysts to reassess expectations the Fed would raise rates in June. Spot gold ...

Wheat faces biggest weekly loss in 9 months on US weather SINGAPORE: Chicago wheat lost more ground on Friday, falling for four out of five sessions and on track for its biggest weekly decline since July on forecasts of much-needed rains across the US grain belt.Soybean prices were largely unchanged after climbing for the last three sessions on support from higher weekly export sales, although gains were capped by ample global supplies.Chicago Board of Trade front-month wheat is down 6.6 percent for the week, its biggest ...


 



 
IndexClosingChg%
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ArrowNasdaq 4,994.60 1.27
ArrowS&P 2,100.40 0.92
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ArrowDAX 11,891.59 1.74
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln