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Nickel in 5,200 tonne surplus in July, down yr/yr: INSG LONDON: The global nickel market was in a 5,200 tonne surplus in July, compared with a 12,600 tonne surplus in the same period a year ago, according to the latest monthly bulletin from the International Nickel Study Group.The bulletin showed world primary nickel consumption totalled 152,400 in July while primary nickel output was 157,600 tonnes. In June, the market showed a 4,800 tonne deficit, revised data showed. Nickel mine production in July totalled 180,300 tonnes, compared with 180,200 tonnes in June.Nickel stocks held by producers were 87,100 tonnes in June, unchanged from the previous month.Copyright Reuters, 2014


Spot gold to retest support at $1,219 SINGAPORE: Spot gold may have completed a rebound triggered by a support at $1,219 per ounce and is expected to retest this level.The support is provided by the 161.8 percent Fibonacci projection level of a wave C that developed from the Aug. 8 high of $1,322.60. The next support will be at $1,209, the 176.4 percent level, a break below which will lead to a further loss to $1,194, the 200 percent level.Resistance is at ...

LME aluminium poised to break support at $1,980 SINGAPORE: LME aluminium is poised to break a support at $1,980 per tonne and fall further to $1,937, as indicated by a Fibonacci retracement analysis. The support is provided by the 38.2 percent Fibonacci retracement on the rise from the May 21 low of $1,754.75 to the Sept. 2 high of $2,119. The brief rebound triggered by this support has been completely reversed, indicating a resumption of the downtrend that developed from $2,119. Strategically, the ...

Shanghai copper to fall to 48,430 yuan SINGAPORE: Shanghai copper is expected to fall to 48,430 yuan per tonne, as it has broken a support at 48,870 yuan.The support was provided by the 23.6 percent Fibonacci projection level of a downward wave c, the third wave of a bigger wave C. The wave c is presumed to have started at 49,580 yuan, the close price on the hourly chart on Sept. 17. The next support will be at 48,430 yuan, the 38.2 ...

Copper set to end week flat on US rate hike worries MELBOURNE: London copper was set to end the week flat on Friday as concerns simmered over the timing of a possible US rate hike, while signs of slowing growth in top metals user China also dragged. The number of Americans filing new claims for unemployment benefits dropped more than expected last week, suggesting a sharp slowdown in job growth in August was an aberration and reinforcing the market's view that US interest rates will climb ...

Palm oil to retrace to 2,060 ringgit SINGAPORE: Palm oil failed to break a resistance at 2,150 ringgit per tonne and is expected to fall to a support at 2,060 ringgit. The resistance and the support are respectively provided by the 23.6 percent and the 14.6 percent Fibonacci retracements on the fall from the March 11 high of 2,916 ringgit to the Sept. 2 low of 1,914 ringgit. A break above 2,150 ringgit will only be confirmed when palm oil rises above ...

CBOT soybeans to drop to $9.53 SINGAPORE: A bearish target at $9.53 per bushel has been established for CBOT soybeans November contract , based on a small head-and-shoulders on the hourly chart.The pattern formed between Sept. 11 and Sept. 18, with a neckline around $9.77. It is apparent that the neckline has been broken, thus, the pattern has been confirmed.Based on the priced difference between the head and the neckline, soybeans seem to be falling towards $9.53.Resistance is at $9.69-1/2, the ...


 



 
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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
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Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln