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Iron ore hits 2-month low, headed for second weekly fall SINGAPORE: Iron ore dropped below $92 a tonne to its lowest since June and is poised to stretch its losses to a second straight week, under pressure from plentiful supply and tougher credit conditions. Some iron ore trading firms are having difficulty securing letters of credit (LCs) from banks as China reins in lending to help spur consolidation in sectors plagued by overcapacity and prevent a surge in bad debts. "In the first half of this year, LCs can be issued in 5-7 working days. Now we couldn't even get one in 14 days," said a trader in China's eastern Shandong province.Data released last week showed a gauge of money flowing into China's economy fell to the lowest in nearly six years in July, adding to fears that a sustained recovery may be at risk in the second half of the year despite government efforts to shore up growth. Iron ...

Palm skids for third week past five-year lows JAKARTA: Malaysian palm oil subsided further on Friday, falling for an eighth-consecutive session to its lowest in more than five years as soybean and crude prices weighed on the market, and defaults and volatility spooked traders. The the benchmark November contract on the Bursa Malaysia Derivatives Exchange fell to 1,989 ringgit ($629) per tonne in afternoon trading, its lowest level since July 2009. By Friday's close, the contract had fallen 1.9 percent to 2,000 ringgit, ...
Indian gold premiums to stay low in 2014 due to weak demand NEW DELHI: Indian gold premiums will average $3-$4 an ounce over London prices this year, roughly half what they were last year, because of continuing restrictions on imports that will soften demand, the head of the country's biggest gold refiner said on Thursday.Struggling with a high trade deficit, India raised its gold import duty to a record 10 percent last year and made it mandatory to export a fifth of all bullion imports. Gold is ...
Palm slips to five-year low on talk of defaults on cargoes JAKARTA: Malaysian palm oil futures fell for a seventh-consecutive session to their lowest level in nearly five years on Thursday, with traders citing talk that major consumers in China and India had defaulted on cargoes.Easing crude and competing oilseed prices coupled with a strong ringgit and slowing palm oil exports helped to push palm to its lowest levels since October 2009, with mixed expectations on how long the decline will last."There were rumours of defaults ...
NY sugar may retrace to 15.53 cents SINGAPORE: New York October sugar faces a resistance at 15.78 cents per lb, and may retrace to a support at 15.53 cents.The support and the resistance are respectively provided by the 14.6 percent and the 38.2 percent Fibonacci projection retracements on the fall from the Aug. 12 high of 16.43 cents to the Aug. 20 low of 15.38 cents.A break above the resistance will open the way towards 15.91 cents, the 50 percent retracement while ...
NY cocoa to approach support at $3,198 again SINGAPORE: New York December cocoa may approach a support at $3,198 per tonne again, as indicated by its wave pattern and a Fibonacci retracement analysis. The correction from the Aug. 18 high of $3,269 consists of three waves. So far, only two waves have completed. The third wave labelled c may travel to the trough of the wave a, which is around $3,198, the 50 percent Fibonacci retracement on the rise from the Aug. 1 ...
Palm hovers off five-year lows as buyers remain wary JAKARTA: Malaysian palm oil hovered near five-year lows on Thursday as easing crude and competing oilseed prices coupled with a strong ringgit kept traders wary, although some doubted how long the doldrums would last.Palm sank to its lowest since October 2009 this week, as slowing exports and prospects of near-record US soybean production weighed on the market.By the midday break, the benchmark August contract on the Bursa Malaysia Derivatives Exchange had edged up 0.05 percent ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln