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China's June daily steel output at new high BEIJING: China's daily crude steel output rose 1.8 percent in June to hit a record 2.31 million tonnes, defying any seasonal downturn in demand, data from the statistics bureau showed on Wednesday. Total output over the month reached 69.3 million tonnes, up 4.5 percent from the same month last year but dipping 1.6 percent from May's record high. On an annualised basis, output amounted to 828.6 million tonnes, according to Reuters calculations, which would represent a 6.3 increase on last year. Despite soaring environmental costs, persistent overcapacity and widespread cash shortages throughout the Chinese steel sector, output has remained strong, with little indication that mills are adjusting production rates in anticipation of a summer slowdown in demand over summer. "The rise in new export orders together with an improvement in demand have dragged production up," analysts at the Tangshan-based consultancy ChinaTSI.com said in a note. However, the consultancy warned that ...


Tokyo futures down on weaker oil, falling Shanghai prices BANGKOK: Tokyo rubber futures ended lower on Tuesday, tracking a drop in oil prices and weaker Shanghai rubber futures, while dealers said TOCOM sentiment turned poor after prices finished below a major support level of 200 yen.The Tokyo Commodity Exchange rubber contract for December delivery fell 2.5 yen to settle at 198 yen per kg."TOCOM sentiment was not so good after prices fell below 200 yen, while falling oil prices also spurred selling," said a ...

Copper steadies with China growth in focus LONDON: Copper prices steadied on Tuesday, boosted by optimism about demand for industrial metals from top consumer China and shrinking supplies, but further gains were capped by selling pressure as traders cashed-in on recent gains.Benchmark London Metal Exchange (LME) copper traded at $7,119.75 a tonne at 0943 GMT, bouncing off two-week lows of $7,078.25 hit earlier in the session.Investors will focus on gross domestic product data from top consumer China, due on Wednesday, with analysts ...

Gold edges up, still near 4-week low ahead of Yellen, US data LONDON: Gold rose on Tuesday as European equities moved lower, but was still trading near its lowest level in almost four weeks ahead of the Federal Reserve's Chair testimony to U.S. Congress that should give more clues about the timing of an interest rate hike.Spot gold was up 0.4 percent at $1,311.90 an ounce by 1021 GMT, after falling more than 2 percent, its biggest daily drop since December, on Monday, when it touched its ...

Arabica coffee falls towards 5-month low, sugar steady LONDON: Arabica coffee futures slipped towards a five-month low on Tuesday, as concerns subsided over the extent of damage to Brazil's crop following drought conditions earlier this year.Sugar prices were capped by the brisk progress of Brazil's harvest, adding to already ample world stocks, while cocoa held firm.Benchmark September arabica futures on ICE were down 2.35 cents, or 1.4 percent, at $1.62 per lb at 1016 GMT.Concern over drought damage to top grower Brazil's crop ...

CBOT soybeans neutral in $10.72-1/2 to $10.90-3/4 range SINGAPORE: CBOT soybeans November contract looks neutral in a range of $10.72-1/2 to $10.90-3/4 per bushel, and an escape will point a direction.The range has been formed by the 223.6 percent and the 200 percent Fibonacci projection levels of downward wave 3 that developed from the June 26 high of $12.46-1/4.It is not very clear if the rebound triggered by the support at $10.72-1/2 level could extend. A rise above $10.90-3/4 will confirm the extension ...

CBOT corn neutral in $3.73-1/2 to $3.83-1/4 range SINGAPORE: CBOT September corn looks neutral in a range of $3.73-1/2 to $3.83-1/4 per bushel, and an escape will point a direction.The range has been formed by the 350 percent and the 300 percent Fibonacci projection levels of a downward wave 3, which has been disrupted by the rebound from the July 14 low of $3.74.It is not very clear if the rebound could extend towards $3.88, the 276.4 percent level, a rise above $3.83-1/4 ...


 



 
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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