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Iron ore at highest in nearly 4 months, but Chinese buying slows SINGAPORE: Iron ore steadied at its highest level since mid-February, supported by a sustained decline in stocks of the raw material at Chinese ports, although buying interest has slowed after a recent rally.Goldman Sachs thinks the rally is "self-defeating" since it is allowing some higher-cost mines to resume operations and could lead to more closures as the additional supply comes through.Iron ore for immediate delivery to China's Tianjin port was unchanged at $63.80 a tonne on Monday, according to The Steel Index. That level was the highest for the benchmark since Feb. 16."So far demand from mills is still good, given their low inventories and offers from traders are still limited," said a Shanghai-based iron ore trader. "But demand is not as strong as we've seen recently."Stockpiles of imported iron ore at China's ports fell for the eighth week to 83.8 million tonnes as of June 5, according to consultancy ...

Vietnam cuts export price floor of 25pc broken rice by 2.9pc HANOI: Vietnam has cut the export price floor for the 25 percent broken rice by 2.9 percent to $340 a tonne, an industry body said, after the country submitted the lowest price in a rice tender in the Philippines.The new floor came into effect on Monday, the Vietnam Food Association said in a statement seen by Reuters.The Philippines agreed to buy 150,000 tonnes from Vietnam in a tender on Friday and could import additional volumes ...
Dalian iron ore futures slip as China imports drop SINGAPORE: Iron ore futures in China dropped on Monday after data showed imports of the raw material by the world's top consumer slid last month.But analysts say spot iron ore prices may continue to find support from a sustained decline in stockpiles at China's ports which had fueled a recovery in the commodity to a 3-1/2-month high last week from a decade-low below $50 a tonne in April."We see destocking at ports and also at ...
Palm rises to over 3 months high as ringgit slumps to 9years low KUALA LUMPUR: Malaysian palm oil futures rose to their highest in over three months on Monday, supported by a slump in the ringgit to a nine-year low and plans by Malaysia to increase its biodiesel mandate to 10 percent by October.The Malaysian ringgit hit 3.7660 per dollar early Monday, its lowest since Jan. 2006, after robust US jobs data bolstered expectations of an interest rate hike by the Federal Reserve by the year-end.Weakness in the ...
Palm hits 3-month high on soyoil rally, weak ringgit KUALA LUMPUR: Malaysian palm oil futures hit a three-month high on Tuesday, extending gains into a fourth straight session, buoyed by an overnight rally in soyoil markets and a weak ringgit.The US July soyoil contract climbed almost 8 percent over the last two sessions, lifted by increased biodiesel targets by the US Environmental Protection Agency - a move that may spur consumption of the edible oil.Echoing the rise, the August palm oil contract on the ...
TOCOM snaps 5-session rally on profit-taking TOKYO: Benchmark Tokyo rubber futures fell on Tuesday, snapping a five-session rally and retreating from a 16-month high hit earlier in the day, as investors took profits after the yen recovered from a fresh 12-1/2 year low against the U.S. dollar.The Tokyo Commodity Exchange (TOCOM) rubber contract for November delivery finished lower 3.4 yen, or 1.4 percent, at 240.4 yen ($1.93) per kg.The TOCOM futures, which set the tone for tyre rubber prices in Southeast ...
Dalian iron ore hits 3-week high, slow offers of seaborne cargoes SINGAPORE: Chinese iron ore futures rose to a three-week peak on Tuesday, supported by shrinking inventory of the commodity at the country's ports amid slow offers of fresh cargoes."There hasn't been a lot of offers of seaborne cargo recently, hence the continuous drop in port stocks," said a Shanghai-based iron ore trader."The trend is likely to continue in the short term, but I believe the supply will resume to high levels in coming months."Some shipments ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln