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China Aug iron ore imports from Australia up 35pc BEIJING: China imported 47.1 million tonnes of iron ore from top supplier Australia in August, up 35 percent on the year to reach the second highest level on record, data from the country's customs authority showed on Monday.With global prices slumping nearly 40 percent this year on a surge in supply, low-cost Australian producers such as BHP Billiton and Rio Tinto have steadily increased their market share in China, the world's top consumer of iron ore.Shipments from Australia amounted to 62.9 percent of the total, which stood at 74.88 million tonnes, up 8.7 percent on the year.Over the first eight months of the year, Australia delivered 353.8 million tonnes of iron ore to China, up 33.6 percent on the year and accounting for 57.6 percent of China's total, rising from 50.9 percent in the whole of 2013.China's second biggest iron ore supplier, Brazil, delivered 13.48 million tonnes in August, down ...


Palm slips to over-1-week low on technical correction, weak soy KUALA LUMPUR: Malaysian palm oil futures stretched losses into a second session on Monday to hit an over-one-week low, with palm weighed by losses in competing markets overseas and further technical correction.Although there is now a brighter outlook on demand for palm, thanks to an export duty cut on its crude grade, as well as anticipation that palm output may have already peaked in August, traders said the rally in benchmark prices has to be ...

Iron ore seen at $80 long term as China steel output growth slows MELBOURNE: Iron ore is likely to hover around $80 a tonne in the long term amid limited growth in China's steel output, an industry association official said on Monday, discounting any sharp recovery in prices as a supply glut weighs on the market.China would produce about 800 million tonnes of crude steel a year for the next decade, said Li Xinchuang, deputy secretary general of the China Iron and Steel Association, capping the country's demand ...

Shanghai hits all-time low on China growth fears SINGAPORE: Shanghai rubber sank to an all-time low on Monday and Tokyo futures tumbled to their weakest in five years after speculators liquidated their positions ahead of key economic data from China, which could point to more economic slowdown.China's flash manufacturing PMI reading on Tuesday could come in below the 50 level, indicating manufacturing activity is contracting, after the country reported the slowest factory output growth in nearly six years.The most-active rubber contract on the ...

Spot gold may fall to $1,194 SINGAPORE: Spot gold is expected to test a support at $1,209 per ounce, with a good chance of breaking below this level and falling more to $1,194.The support is provided by the 176.4 percent Fibonacci projection level of a wave C that developed from the Aug. 8 high of $1,322.60. The next support will be at $1,194, the 200 percent level.So far there has not been any obvious bullish reversal signal to indicate a completion ...

LME aluminium to fall to $1,937 SINGAPORE: LME aluminium is expected to fall to $1,937 per tonne, as it has broken a support at $1,980.The support was provided by the 38.2 percent Fibonacci retracement on the rise from the May 21 low of $1,754.75 to the Sept. 2 high of $2,119. The next support will be at $1,937, the 50 percent level, a break below which will open the way towards $1,894, the 61.8 percent level.A sudden surge above $1,980 could ...

Soybeans, corn hit contract low on record supply; wheat firms SINGAPORE: Chicago soybean and corn futures slid to contract lows on Monday with expectations of all-time high production in the United States continuing to drive prices lower.Wheat rose for the first time in three sessions on bargain buying, after dropping on Friday to a more than four-year low.Chicago Board of Trade new-crop November soybeans eased 1.1 percent to $9.46-1/2 a bushel by 0222 GMT, after hitting a contract low of $9.45-1/2 a bushel. December corn ...


 



 
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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
WeeklySeptember 25, 2014
Reserves $13.305 bln