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Copper firms on China GDP data, nickel rallies LONDON: Copper rose on Wednesday, recouping some of the last session's deep losses, on relief that top consumer China posted slightly higher-than-forecast first quarter growth.Nickel rallied to its highest in 14 months, supported by escalating tensions between the West and Russia over the crisis in Ukraine.China's economy grew 7.4 percent in the first quarter, from a year earlier, pipping forecasts of 7.3 percent.Other more commodity-specific Chinese data was weak, however, with March industrial output and January to March fixed asset investment a shade under estimates.Also, at 7.4 percent, China growth is at its slowest in 18 months, which has already prompted limited government action. China consumes about 40 percent of the world's copper."Chinese consumption is not going to 'wow' but it won't fall off a cliff. Copper is going to be trading range bound essentially," said Macquarie analyst Vivian Lloyd.She added: "Gains should be capped by the incoming surplus ... ...


Gold steadies above $1,300, supported by Ukraine crisis LONDON: Gold prices steadied on Wednesday after falling nearly 2 percent in the previous session, underpinned by escalating tensions in Ukraine and dollar softness but still under pressure from a weak chart picture and concerns over a slowdown in Chinese demand.Ukrainian government forces and separatist pro-Russian militia staged rival shows of force in eastern Ukraine amid escalating rhetoric on the eve of crucial four-power talks in Geneva on the former Soviet country's future.That helped gold ...

Indonesian wheat body sees 2014 imports at 7.1 million tonnes JAKARTA: Indonesia wheat imports will rise 6 percent to 7.1 million tonnes this year, an industry group in Asia's second-largest importer said, above a previous forecast of between 6.5-6.7 million tonnes for 2014. Last year, Indonesia shipped 6.7 million tonnes of wheat, Franciscus Welirang, chairman of the Indonesian Wheat Flour Mills Association, told reporters on Monday, again slightly higher than a previous forecast of 6.5 million tonnes.Australia usually supplies around 65 percent of Indonesia's imports ...

CBOT corn's target at $4.81 temporarily aborted SINGAPORE: A bearish target at $4.81 per bushel has been temporarily aborted for CBOT May corn, as it keeps on hovering above support at $4.94-1/4.Support is provided by the 23.6 percent Fibonacci retracement on the rise from the Jan. 10 low $4.14-1/2 to the April 9 high of $5.19, only a break below which could open the way towards the 38.2 percent retracement at $4.79.The rise could be broken down into five waves, indicating the ...

Palm rises to over 1-week high on strong crude, better export outlook KUALA LUMPUR: Malaysian palm oil futures rose to their highest in more than a week on Monday, lifted by strong crude and soy oil markets overseas, and on investor anticipation that festival-driven consumption will stoke demand for the tropical oil.Market players are watching for cargo surveyor export data for the first half of April, due on Tuesday, to gauge global demand for palm. Shipments of palm products between April 1-10 rose 3-5 percent compared with ...

Wheat jumps 2pc as Ukraine tensions rise SYDNEY: US wheat futures rose 2 percent on Monday as tensions escalated in Ukraine, stoking fears of potential supply disruptions from one of the world's largest exporters.Chicago Board of Trade May wheat futures were up 1.7 percent at $6.71-1/2 a bushel at 0045 GMT, having earlier hit a session high of $6.73-1/2 a bushel. Wheat closed down 0.3 percent on Friday."Tensions in the Ukraine have risen," said Luke Mathews, commodities strategist, Commonwealth Bank of Australia. ...

Spot gold to rise to $1,335 SINGAPORE: Spot gold is expected to rise to $1,335 per ounce as it has broken above resistance at $1,321.Resistance is at the 38.2 percent Fibonacci retracement on the fall from the March 17 high of $1,391.76 to the April 1 low of $1,277.29. The next resistance will be at $1,335, the 50 percent retracement, a break above which will lead to a further gain to $1,348, the 61.8 percent retracement.A fall below $1,321 will signal ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln