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Iron ore at 7-week high, closes in on $100 as steel strengthens SINGAPORE: Iron ore climbed to its highest level in almost seven weeks, moving closer to $100 a tonne, as firmer steel prices in top market China spurred buying interest in the raw material.China's bid to push infrastructure spending to boost its economy has lifted steel futures in Shanghai to their highest since late May. That has helped increase purchases of spot iron ore cargoes, raising chances that prices will bounce back to $100 per tonne after falling nearly 30 percent this year.Iron ore has risen 10 percent since dropping to a 21-month low of $89 in mid-June, so far the trough this year for prices that dropped below the $100 support level in May.Benchmark 62-percent grade iron ore for immediate delivery to China <.IO62-CNI=SI> rose 1 percent to $97.90 a tonne on Monday, the highest since May 27, based on data compiled by Steel Index."There's a chance that the momentum ...

Shanghai copper slides to near 2-week low on speculative selling SYDNEY: Shanghai copper fell to its lowest in nearly two weeks on Tuesday and dragged down London copper, with traders who follow chart-based strategies selling as a month-long rally appeared to sputter. London copper had surged 9 percent from June lows to hit a four-and-a-half month high of $7,212 a tonne on July 8 but has failed to build on the gains, despite generally improving economic sentiment. "We've had a pretty strong run - it's ...

Gold retains sharp losses, trades near 4-week low SINGAPORE: Gold was trading near its lowest level in almost four weeks on Tuesday, struggling to get past sharp overnight losses triggered by profit-taking and stronger global equities that dented the metal's safe-haven appeal.Spot gold was little changed at $1,306.75 an ounce by 0317 GMT, after sliding more than 2 percent on Monday - its biggest daily drop since December. Gold touched a low of $1,302.90 in the previous session, its weakest since June 19.Asian ...

Spot gold may hover above $1,305 for a day SINGAPORE: Spot gold may have found a support at $1,305 per ounce and hover above this level for a day or rebound moderately to $1,320 before dropping again.The support is identified as the 38.2 percent Fibonacci retracement on the rise from June 3 low of $1,240.61 to the July 10 high of $1,345. Since the higher support at 1,320, the 23.6 percent retracement, has failed to stop the fall, the current support may temporarily hold ...

LME copper to drop to $7,025 SINGAPORE: LME copper is expected to fall to $7,025 per tonne, as it failed to break a resistance at $7,191 again. The resistance is provided by the 76.4 percent Fibonacci retracement on the fall from the Jan. 2 high of $7,460 to the March 19 low of $6,321. The fall from the July 14 high of $7,175 strongly suggests a top around $7,191. An immediate support will be at $7,025, the 61.8 percent retracement, a ...

LME aluminium to retrace to $1,898 SINGAPORE: LME aluminium is expected to drop to a support at $1,898 per tonne, as it failed to break a resistance at $1,961 again. The resistance is provided by the 76.4 percent Fibonacci projection level of an upward wave c that developed from the June 12 low of $1,836. The July 14 high of $1,954.50 is lower than the July 9 high of $1,959, indicating a reversal of the uptrend or at least an extended ...

Corn eases as US crop rated best in 20 years, wheat dips SINGAPORE: US corn edged lower on Tuesday, giving up some of last session's gains and trading near contract lows after a US Department of Agriculture report showed better-than-expected crop conditions.Soybeans and wheat also dipped as agricultural markets remained under pressure on prospects of ample global supplies.Conditions ratings for the US corn crop unexpectedly improved while soybean ratings held steady, with both crops off to their best start since 1994, the USDA said in a weekly ...


Index Closing Chg%
Arrow DJIA 17,083.80 0.02
Arrow Nasdaq 4,472.11 0.04
Arrow S&P 1,987.98 0.05
Arrow FTSE 6,821.46 0.34
Arrow DAX 9,794.06 0.42
Arrow CAC-40 4,410.65 0.78
Arrow Nikkei 15,284.42 0.29
Arrow H.Seng 24,141.50 0.71
Arrow Sensex 26,271.85 0.48

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