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Iron ore at five-year low, set for worst month since May SINGAPORE: Iron ore is on track to end September with its biggest monthly loss since May after falling to its lowest since 2009 in a rout that traders say looks likely to continue after a week-long holiday in top consumer China.Abundant supply of iron ore has hit prices hard as the top global miners, looking to squeeze out high-cost producers, lifted output at a time when Chinese steel demand was slowing. The steelmaking raw material has fallen more than 42 percent this year and is on course for its third quarterly decline.There was limited trading activity in China ahead of the National Day holiday that starts on Wednesday, traders said."Most deals have been done yesterday and the days before, and other traders have really been shying away from the market in the past two months," said an iron ore trader in China's eastern Shandong province."Many traders are keeping low stocks ...


NY coffee may rise into $2.3015-$2.4690 range in 3 months SINGAPORE: New York coffee may rise to $2.3015-$2.4690 per lb over the next three months, as indicated by its wave pattern and a Fibonacci projection analysis.The preceding uptrend from the Nov. 6, 2013 low of $1.0415 consisted of five waves. Such a wave mode suggests the development of a huge zigzag or a bigger five-wave cycle.A zigzag means coffee is riding on a wave 3, the third wave of bigger wave C that developed from ...

Soybeans set for biggest quarterly loss in 6 years on supply pressure SINGAPORE: Chicago soybeans eased on Tuesday and were on track for their biggest quarterly loss in six years on pressure from mounting US supplies and a strengthening dollar. Corn and wheat were largely unchanged as investors curtailed their activities ahead of a quarterly stocks report from the US Department of Agriculture (USDA), due at 1600 GMT. Chicago Board of Trade soybeans are down more than 34 percent this quarter, the biggest drop since 2008, and ...

London copper steady after China data, ahead of holidays SYDNEY: London copper was flat but not far off three-month lows on Tuesday after a private sector reading of China's factory health fell slightly from initial estimates, with the metal facing its steepest monthly loss since March on a looming jump in supply. Activity in China's vast factory sector showed signs of steadying in September as export orders climbed, the survey showed, easing fears of a hard landing but still pointing to a sluggish economy. ...

Gold edges down as strong dollar outweighs weak stocks LONDON: Gold fell on Monday as downward pressure from a strong dollar outweighed support from unrest in Hong Kong, which hit global shares and led to some demand for the metal. Spot gold was down 0.2 percent to $1,217.10 an ounce by 1422 GMT, while US gold futures gained $2.30 to $1,217.60 an ounce. Cash prices had reached a nine-month low of $1,206.85 on Thursday, before recovering slightly. The dollar was unchanged against a basket ...

Copper steadies along with dollar, nickel slides LONDON: Copper prices steadied on Monday, after earlier touching their lowest level in almost three months, as the dollar pulled back from an earlier four-year high against a basket of currencies. Nickel slid as inventories piled up to another record high. Benchmark copper on the London Metal Exchange (LME) was up 0.35 percent at $6,740 by 1449 GMT after falling to a session low of $6,666 a tonne, its weakest since June 16. The dollar ...

US corn harvest seen behind at 15pc CHICAGO: Dry, warm days across the US Corn Belt last week promoted the corn and soybean harvests but it was behind the typical pace as a cool, wet summer slowed crop maturity, analysts said on Monday ahead of the government's weekly crop report. Analysts also expected the US Department of Agriculture to report strong corn and soybean condition ratings, which have been at 20-year highs this season. The USDA is to release the weekly crop ...


 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln