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LME copper faces first monthly drop in four on plentiful supply MELBOURNE: London copper was facing its first monthly drop since January on Friday, pressured by ample inventories of refined metal, but prospects that Chinese stimulus measures would revive demand kept a floor under prices."We've seen positive trends in the imports for copper, and it certainly feels like monetary easing is helping trade financing activities, which should be supportive of copper imports in the shorter term," said analyst Daniel Hynes of ANZ in Sydney said."It's going to remain in a relatively tight range but I think we still haven't seen the high in this range just yet. The general pick up in sentiment is going to prolong this further than the underlying data would suggest."Three-month copper on the London Metal Exchange had edged up 0.3 percent to $6,111 a tonne by 1245 GMT, after closing a touch firmer in the previous session. Prices were facing their first monthly loss in four, ...


LME aluminium may retrace to $1,758 SINGAPORE: LME aluminium faces a resistance at $1,784 per tonne and may retrace to $1,758, as indicated by a Fibonacci projection analysis.The resistance is provided by the 114.6 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle that developed from the May 6 high of $1,977.Strengthening the resistance is another one established by the trendline falling from $1,977. These two resistances will work together to cause a drop ...

Wheat falls near lowest in 2 weeks, set to finish May up 4pc SYDNEY: US wheat fell 0.5 percent on Friday to linger near a two-week low as the weather outlook improved, though the grain was poised to record its biggest monthly climb in six months.Corn rose, extending gains into a second session, while soybeans also edged higher.Chicago Board of Trade front-month wheat fell 0.51 percent to $4.86-1/4 a bushel, having closed up 0.2 percent in the previous session."Weather forecasts call for warmer weather across the States and ...

Shanghai copper may drop to 43,510 yuan SINGAPORE: Shanghai copper may drop to 43,510 yuan per tonne as it has left an upper channel and moved into a lower channel.The upper channel has been developing from the Jan. 26 low of 38,860 yuan. Based on this channel, a similar rising channel has been duplicated, and its lower channel line points an aggressive target at 40,640 yuan, which could be reached over the next week.A more realistic target will be 43,510 yuan, the ...

Raw sugar holds above 6 year low, London cocoa off 8-mth high NEW YORK/LONDON: Raw sugar futures on ICE hovered above their lowest level in more than six years on Thursday, but gains were capped by the weak currency in top grower Brazil and abundant supplies, while London cocoa fell from an eight-month high.New York cocoa fell for the fourth straight day as the weak British pound attracted selling by speculators. Coffee futures were slightly higher.Dealers said they expected fluctuations in the Brazilian real and US dollar ...

CBOT soybeans close lower on new-crop drop CHICAGO: US soybean futures fell on Thursday, led lower by new-crop contracts amid technical selling and expectations for a big crop this fall, traders said.Chicago Board of Trade November soybean futures, which track the crop that US farmers are currently planting, notched the biggest losses after early buying failed to push the contract through Wednesday's highs.Weakness in soymeal, which was weighed down by profit taking, also weighed on soybeans.Traders also cited pressure from expectations that ...

Gold bounces up from 2-1/2-week low as dollar, shares fall NEW YORK/LONDON: Gold inched higher after hitting a 2-1/2 week low on Thursday as the dollar and global shares fell alongside uncertainty about Greece and an unexpected rise in US jobless claims. Spot gold was up 0.1 percent at $1,188.30 an ounce by 2:26 p.m. EDT (1826 GMT) after falling to $1,180.55, the lowest since May 11. US gold futures for June delivery settled up $2.50 at $1,188.10 an ounce. European Central Bank Vice President ...


 



 
IndexClosingChg%
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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%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln