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Copper steadies, but gains capped by growing supplies LONDON: Copper steadied on Monday as risk-hungry investors saw value in a metal whose price lost 2.4 percent last week, though worries over China's property sector and a build-up of copper stocks kept gains in check.COMEX copper speculators boosted net "long" or buy positions to their highest level since at least 2006 in the week to July 15, according to the Commodity Futures Trading Commission and Reuters data.Still, the case to sell copper remained strong. Shanghai copper stocks rose 28.9 percent last week, LME stocks have risen since late June, and Comex copper stocks have climbed to eight-month peaks. "Commodities have seen a clear increase in investor interest ... (but) we are negative on copper. Our current forecasts anticipate copper surpluses of 225,000 tonnes in 2014, followed by 285,000 tonnes in 2015," said Nic Brown, head of commodities research at Natixis.Three-month copper on the London Metal Exchange traded at $6,989.25 ...


Turkey tenders to buy 165,000 T wheat, 65,000 T barley: trade HAMBURG: Turkey's state grain agency TMO has issued an international tender to purchase and import up to 165,000 tonnes of milling wheat and 65,000 tonnes of animal feed barley, European traders said on Monday.The new tender follows a series of large import purchases by Turkey and closes on Thursday, July 24, traders said.Turkey is among countries affected by the Middle East's driest winter in several decades, which reduced crop yields and threatens to hit food ...

Gold above $1,300/oz on lower shares, geopolitical concerns LONDON: Gold steadied above $1,300 an ounce on Monday, as European shares weakened and political tensions simmered after the downing of a Malaysian airliner in eastern Ukraine last week and incessant fighting in Gaza.Spot gold was up 0.3 percent to $1,314.19 an ounce at 0955 GMT, while U.S. gold futures for August delivery were up 0.4 percent at $1,314.70 an ounce.Gold jumped 1.4 percent last Thursday as some investors sought protection against any drop in ...

Private Egyptian buyers purchase 60,000 T Black Sea wheat: trade HAMBURG: Private Egyptian buyers in the past week purchased about 60,000 tonnes of wheat from the Black Sea region, all for August shipment, European traders said on Monday.Some 30,000 tonnes with 12.5 percent protein content was purchased at $257 a tonne c&f and a further 30,000 tonnes with 11.5 percent protein content was purchased at $247 a tonne c&f, traders said.Benchmark Chicago wheat touched four-year lows in the last week, pressured by expectations of rising ...

China iron ore, steel extend losses to hit 1-month lows SINGAPORE: Steel and iron ore futures in China fell to one-month lows on Monday, stretching steep losses from the prior session, weighed down by slow demand that has kept steel traders from replenishing inventories and iron ore stocks at ports high.Stocks of five major steel products held by Chinese traders fell to 13.13 million tonnes on Friday, according to industry consultancy Mysteel. That is the lowest inventory level since December 2012, said Helen Lau, analyst ...

Palm falls as weak soy, strong ringgit drag; exports support KUALA LUMPUR: Malaysian palm oil futures edged down on Monday, adding to losses after three straight weeks of declines, as weakness in comparative soyoil markets and a firm ringgit weighed, although an uptick in export data curbed the fall.Cargo surveyor Intertek Testing Services reported that exports of Malaysian palm oil products during July 1-20 rose 7.8 percent to 868,843 tonnes from a month ago, due to bigger shipments to Europe and China. Exports to China ...

LME copper to fall to $6,891 SINGAPORE: LME copper is expected to fall to $6,891 per tonne, as it has broken below a support at $7,025. The support was provided by the 61.8 percent Fibonacci retracement on the fall from the Jan. 2 high of $7,460 to the March 19 low of $6,321. The next support will be at $6,891, the 50 percent retracement. The fall seems to have accelerated, as indicated by the big loss on July 18, as a ...


 



 
Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
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Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln