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Iron ore firms, slow China demand may cap rise SINGAPORE: Spot iron ore prices rose after a fall of more than 8 percent over the past two weeks tempted some buyers in top importer China, but some traders doubt any significant rebound is sustainable given ample stocks of iron ore at most mills.   The closure of a major port in Australia, the world's biggest supplier of iron ore, is also likely to support prices.   Price offers for imported cargoes in China rose by $2 per tonne on Tuesday, according to Chinese consultancy Umetal, as sellers braced for a return in demand after prices came off 15-month highs reached in early January.   Iron ore with 62 percent iron content, the industry benchmark, gained 0.6 percent to $145.90 a tonne on Monday, based on data from Steel Index.    The few cargoes sold on the spot market were done at higher prices, but some traders were unsure if the upturn will continue.   "With steel mills making a ...


White sugar hits 2-1/2 year low on excess supply LONDON: White sugar futures on Liffe set a 2-1/2 year low on Monday as the market was further driven down by abundant supplies, while cocoa fell back to little changed levels after earlier equalling a four-week high.   Robusta coffee futures on Liffe were slightly lower while ICE raw sugar, arabica coffee and cocoa contracts were shut due to a holiday in the United States.   March white sugar on Liffe settled $2.20 or 0.45 percent lower at $489.80 ...

India raises gold import tax, unlikely to deter buyers NEW DELHI/MUMBAI: India has raised the import tax on gold by 2 percentage points to 6 percent to curb purchases and rein in a ballooning fiscal deficit but industry officials expect only a moderate drop in demand.   India's passion for gold, seen by many as a hedge against persistently high inflation, has led to a rise in its current account deficit, which reached an all-time high of 5.4 percent of gross domestic product in the July-September ...

Gold firms as US budget talks lift European stocks LONDON: Gold firmed on Monday as stock markets rose towards two-year highs on political moves to break a budget impasse in the United States and the euro steadied as the first euro zone finance ministers' meeting of the year got underway.   Expectations that the Bank of Japan will deliver bold monetary easing also provided support, but the absence of US players, away for the Martin Luther King public holiday, kept the market in a range below ...

Brazil to produce 70.7mn T corn in 2012/13: Safras & Mercado SAO PAULO: Brazil will likely produce 70.7 million tonnes of corn from the 2012/13 crop, down slightly from the record 72.7 million tonnes it produced in 2011/12, local analyst Safras & Mercado said on Monday.   Copyright Reuters, 2013

ICE canola mixed in thin trade on US holiday WINNIPEG: ICE Canada canola futures were mixed in early trading on Monday in light volume with US markets closed.   * Market seen underpinned by limited farmer selling into cash system, as some farmers are expecting higher prices due to tight supplies and strong demand - trader.   * China may soon lift ban on Australia canola imports, according to an Australian government official. News might suggest improved access for Canada this year, a trader said.   * March canola slipped ...

Ivorian cocoa arrivals seen down 10pc by Jan. 20 ABIDJAN: Cocoa arrivals at ports in top grower Ivory Coast reached around 775,000 tonnes by Jan. 20 since the start of the season in October, exporters estimated on Monday, compared with 838,020 tonnes in the same period of the previous season.   Shipments continued to fall, with exporters estimating deliveries to the West African state's two ports at around 33,000 tonnes of beans between Jan. 14 and 20, down from 46,000 the week before.   Arrivals totalled 48,698 tonnes ...


 



 
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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
WeeklyOctober 23, 2014
Reserves $13.465 bln