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Aluminium up as funds buy, Zinc hits 4-week high, LONDON: Zinc climbed to a four-week high and aluminium neared an 18-month peak on Tuesday in markets driven by momentum-based speculators and computer-driven funds. But analysts cautioned that both zinc and aluminium prices were moving ahead of supply/demand fundamentals as inventory levels remain high. Aluminium prices, which have gained 13 percent over the past two months, have also been supported recently by one investor holding a large position of inventories and short-dated futures. Three-month zinc on the London Metal Exchange closed at $2,378, up 0.9 percent, after touching a session high of $2,391.25, the strongest since Aug. 5. "The big issue for me is that you've been seeing Chinese refined zinc production surging quite sharply since June, yet you have a relatively weak end-user sector in terms of construction activity," David Wilson, an analyst at Citi in London, said."Zinc has probably one of the biggest exposures to residential construction activity ...


ICE coffee hits one-month high as supply outlook tightens LONDON: Arabica coffee futures on ICE rose to a one-month high on Tuesday boosted by a tightening supply outlook while sugar also advanced but cocoa suffered a setback.December arabica coffee futures was 3.65 cents or 1.8 percent higher at $2.0485 per lb by 1411 GMT after earlier hitting a one-month high of $2.0975.The market has been supported by concerns that dry weather in Brazil will reduce production both this year and in 2015, potentially leading ...

US corn, soy seen stable, eye on maturity CHICAGO: Rain and cool temperatures across the U.S. Midwest last week were seen keeping corn and soybean conditions stable and historically high, analysts said on Tuesday ahead of the release of the government's weekly crop report.That counters typical trends for conditions to slip as crops ripen. Analysts will also be keeping a close eye on USDA's crop maturity figures, especially in the northern states, where corn and soybeans were planted late and are behind in ...

EU wheat down with Chicago but Ukraine crisis supports PARIS: European wheat tracked the US market lower on Tuesday, albeit to a lesser extent, and was supported by tensions between Ukraine and Russia which could hurt their exports at a time when the euro is at one-year lows against the dollar.A drop in Black Sea exports would benefit European Union wheat, notably on key international markets in the Middle East.By 1527 GMT, November wheat on Paris-based Euronext futures was 0.4 percent down to 173.00 ...

Indian gold imports, premiums to jump on festive demand MUMBAI: Indian gold imports and premiums are likely to surge during the rest of the year as buying picks up for the wedding and festival season, the head of the country's biggest gold refiner said on Tuesday.Premiums could jump to $10-$12 an ounce over the global benchmark from the current levels of $4-$5, said MMTC-PAMP Managing Director Rajesh Khosla.Imports could climb to 60-70 tonnes per month for the rest of the year from about 40 ...

Gold falls nearly 1pc as equities, dollar firm LONDON: Gold prices fell on Tuesday, breaking through key support at $1,280 an ounce as stock markets firmed and the dollar hit a one-year high against the euro ahead of a European Central Bank meeting this week.The metal has been underpinned by worries over the stand-off between Russia and the West over Ukraine and persistent unrest in the Middle East, but strength in stocks and the dollar, plus weak physical demand from China and India, ...

Palm lifted by soy and better exports, but hovers near 5-1/2-year lows KUALA LUMPUR: Malaysian palm oil futures edged up on Tuesday, lifted by gains in overseas soy oil markets and on better-than-expected exports in August, although concerns about higher edible oil supplies kept prices near five-and-a-half-year lows.Shipments of Malaysian palm oil products fell 4.8 percent from a month earlier to 1,288,117 tonnes in August, cargo surveyor Intertek Testing Services said, but recovered from steeper losses earlier in the month as a surge in demand from India ...


 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 02, 2014
Reserves $13.581 bln