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Copper up on China stimulus reports, markets await Fed LONDON: Copper edged up on Wednesday on a report that China's central bank will provide the country's biggest banks with fresh loans to bolster the economy of the world's largest metals consumer.Investors are also looking ahead to a crucial U.S. Federal Reserve policy statement later this session where the bank may indicate its thinking on the timing of any interest rate move.Media reports said China's central bank is injecting a combined 500 billion yuan ($81.35 billion) of liquidity into the country's top banks."This 500 billion yuan is going to find its way through to production and that will help boost growth. You could say it's a rational response by the Chinese authorities to acutely weak data over the weekend," said Natixis' head of commodity research Nic Brown.Factory output in China, which consumes some 40 percent of the world's copper, grew at the weakest pace in nearly six years in August, ...


Turkey buys 200,000 T milling wheat in tender PARIS: Turkey's state grain agency TMO has purchased 200,000 tonnes of milling wheat in an international import tender for the same volume which closed on Tuesday, European traders said on Wednesday.TMO bought 75,000 tonnes of wheat with a 12.5 percent protein level at prices ranging from $259.75 to $262.25 a tonne, cost and freight included, they said.It also purchased 125,000 tonnes of wheat with 13 percent protein at prices from $265.90 to $272.75 C&F.The grains ...

Palm gives up gains on technical correction, but demand supports KUALA LUMPUR: Malaysian palm oil futures edged down on Wednesday after touching their highest in over a month in early trade, as a bout of technical correction weighed, although hopes of stronger exports provided support.Exports of Malaysian palm products jumped 32-34 percent in the first half of September compared to a month ago, cargo surveyor data showed, with demand for crude palm oil more than doubling after the No. 2 grower scrapped export duties for ...

CBOT wheat may rebound to $5.04 SINGAPORE: CBOT Dec. wheat may rebound to $5.04 per bushel, as indicated by its wave pattern and a Fibonacci retracement analysis.A five-wave cycle falling from the Aug. 28 high of $5.79-1/4 seems to have completed. The Fibonacci retracement analysis on the cycle reveals an immediate target at $5.04, the 14.6 percent level, a break above which will lead to a further gain to $5.11-3/4, the 23.6 percent level.A drop below $4.91 will signal the continuation ...

Thailand rice scheme losses $9.9bn and rising BANGKOK: Thailand has so far lost 320 billion baht ($9.9 billion) from a 16-month rice support scheme and the final cost will rise substantially, the state bank that helped manage the scheme said on Wednesday, citing Finance Ministry estimates. The estimated loss was as at end-May, Bank of Agriculture and Agricultural Cooperatives (BAAC) President Luck Wajananawat told Reuters. The figure would rise as the rice had been bought by the former government at well above ...

Iron ore drops again, but China stimulus hopes may support SINGAPORE: Iron ore retreated further after a spike higher at the start of the week, reflecting continued pressure from a well-supplied market, but reports that China is moving to stimulate a slowing economy may support prices. Iron ore has fallen 37 percent this year as growth in supply from low-cost producers Australia and Brazil has outstripped demand in China, the biggest buyer of the steelmaking commodity. Benchmark 62 percent grade iron ore for immediate delivery ...

NY sugar may rebound to 13.90 cents SINGAPORE: A bearish target at 13.43 cents per lb has been temporarily aborted for New York October sugar as it has managed to stabilize around a support at 13.54 cents.The support has been formed around the 323.6 percent Fibonacci projection level of a downward wave 3, the third wave of a five-wave cycle starting from the Aug. 22 high of 16.05 cents. The next support will be at 13.43 cents, the 338.2 percent projection.A small ...


 



 
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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 15, 2014
Reserves $13.414 bln