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Dalian iron ore futures sink to record level, spot hits lowest since 2009 SINGAPORE: Iron ore futures in China tumbled nearly 4 percent to a record low on Tuesday as benchmark spot prices stretched this year's rout to hit their weakest level since 2009 as a supply glut continued to pressure the commodity.Iron ore has lost 44 percent of its value this year as big, low-cost miners such as Rio Tinto, BHP Billiton and Vale, boosted output that reached record levels in the past quarter amid slowing demand growth in top importer China.There were more signs of weakness in China's economy on Tuesday, with home prices falling for a second straight month in October from a year ago.Iron ore for May delivery on the Dalian Commodity Exchange was down 3.4 percent at 490 yuan ($80) a tonne by midday after falling as low as 488 yuan, its weakest since the bourse launched iron ore futures in October 2013.That followed a drop in the ...


Soy eases after rally, corn falls for 3rd day on ample supply SINGAPORE: US soybeans dipped on Tuesday due to plentiful supplies, after the market rallied 1.3 percent in the last session on strong demand from domestic processors and importers.Corn slid for a third consecutive session, while wheat was unchanged due to a lack of demand for US shipments and cold weather threatening crops.Copyright Reuters, 2014

Spot gold to test support at $1,179 SINGAPORE: Spot gold is expected to test support at $1,179 per ounce, a break below which will cause a further loss to $1,161.A wave pattern and a Fibonacci projection analysis suggest completion of the rebound from the Nov. 7 low of $1,131.85. Further suggestion has been given by gold's failure to break resistance at $1,934, the 50 percent Fibonacci retracement on the fall from the Oct. 21 high of $1,255.20 to $1,131.85.The support is identified ...

Vietnam's 2014/2015 coffee output seen down in Daklak HANOI: Coffee production in the key Vietnamese growing province of Daklak could fall 10 percent in 2014/2015 to nearly 420,000 tonnes due to lower yields from old trees and dry weather, provincial officials said on Tuesday. "We are still assessing the crop but output could drop around 10 percent from last year," said a senior official at Daklak's agriculture department, who declined to be identified as he was not authorised to speak to media. "The ...

LME copper may break support at $6,660 SINGAPORE: LME copper may break a support at $6,660 per tonne and fall more towards the next support at $6,633. The support is provided by the 38.2 percent Fibonacci projection level of an upward wave c that developed from the Nov. 13 low of $6,590. The next support will be at $6,633, the 23.6 percent level. A rise above $6,681, the 50 percent level, will make signals neutral. Only a further gain above the 61.8 ...

China October cotton imports at 81,900 tonnes, down 42pc on year BEIJING: China imported 81,900 tonnes of cotton in October, down 42 percent on the same month last year, the China Cotton Association said on Tuesday, citing customs data. The world's top consumer of the fibre has imported 2.08 million tonnes of cotton in the first 10 months of this year, a decline of 38 percent on last year. Chinese imports dropped after textile firms chose to import yarn instead of cotton, which incurs lower import ...

LME aluminium biased to test support at $2,008 SINGAPORE: LME aluminium is biased to test a support at $2,008 per tonne, a break below which will lead to a further loss to $1,986. The support is at the 38.2 percent Fibonacci retracement on the rise from the Oct. 16 low of $1,893.5 to the Nov. 6 high of $2,078.75, it has triggered a rebound which seems to have completed around the 23.6 percent level of $2,035. A break above $2,035 will open the ...


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln