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Copper heads for biggest weekly drop since January, record stocks hit nickel LONDON: Copper prices fell on Friday on worries about demand in top consumer China, while nickel hit a four-week low after stocks in LME-registered warehouses climbed to a record high. Three-month copper was untraded at the close but bid at $6,161 a tonne from $6,260 on Thursday. Earlier in the day, it touched a three-week low of $6,143.The metal used in power and construction is down more than 3 percent so far this week, heading for its biggest weekly loss since January. "Demand could prove to be somewhat better if the global economy recovers," said Daniel Briesemann, analyst at Commerzbank in Frankfurt. China's imports of unwrought copper and copper alloy reached 380,000 tonnes in April, taking imports in the first four months of the year to 1.35 million tonnes, down 14.7 percent from a year ago. But the monthly import figure has increased since February."If Chinese consumers become comfortable with ...


Arabica takes biggest fall since March, cocoa at 7 month high NEW YORK/LONDON: Arabica coffee futures on ICE sank more than 5 percent in heavy volume on Thursday, marking their biggest tumble in 2-1/2 months after an influential trade house raised its global production forecast and technical sell signals were triggered. Cocoa futures resumed their rally, reaching the highest levels in more then seven months, with gains in the New York market as the British pound soared against the dollar. Raw sugar futures fell for the ...

CBOT wheat ends higher on weather jitters, technicals CHICAGO: Wheat futures on the Chicago Board of Trade rose Thursday on a mix of technical buying and worries about excessive rains in the southern US Plains and dryness in parts of Russia and Canada, traders said.CBOT July wheat broke through resistance at its 100-day moving average near $5.18, settling at $5.22 per bushel, up 9 cents on the day.K.C. hard red winter and MGEX spring wheat futures also ended higher, with the July contracts ...

Gold edges lower as dollar cuts losses after US data NEW YORK/LONDON: Gold fell on Thursday as the dollar cut losses on US data that showed growing economic momentum, but support came from signs the Federal Reserve was unlikely to raise interest rates in June. The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, data on Thursday showed. But the four-week moving average of claims, considered a better measure of labor market trends as it irons out ...

First copper from Congo-China deal due by year end KINSHASA: A joint venture between Democratic Republic of Congo's state miner and two Chinese companies, signed under a 2009 "minerals for infrastructure" deal, will begin producing copper before the end of 2015, Congo's government said on Thursday. Under the deal Chinese companies pledged to build $3 billion worth of roads, railways, schools, and hospitals in return for a 68 percent stake in a joint venture operating copper plants with state miner Gecamines in the southern ...

Gold steadies as dollar falls, June rate rise prospects dim LONDON: Gold steadied on Thursday as the dollar fell following minutes from the Federal Reserve's policy meeting showing the U.S. central bank was unlikely to raise interest rates in June.Spot gold was unchanged on the day at $1,209.04 an ounce by 1146 GMT, while U.S. gold futures for June delivery were up 0.1 percent at $1,209.60 an ounce."There is now good psychological support around $1,200, the chart picture looks promising after relatively unsurprising Fed minutes ...

Wheat higher on rain risks, soy steady after 7-month low PARIS/SINGAPORE: US wheat futures rose on Thursday as forecasts for more rain in the southern Plains growing belt kept the focus on possible damage to maturing wheat crops.Soybeans edged higher as the market steadied after a seven-month low a day earlier linked to near-perfect weather across the U.S. Midwest. Corn was also firm after a one-week low.A fall in the dollar after a two-week high against a range of currencies, as well as strengthening crude ...


 



 
IndexClosingChg%
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ArrowDAX 11,864.59 0.14
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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
WeeklyMay 21, 2015
Reserves $17.75 bln