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China plans to subsidise iron ore miners after price slump: paper BEIJING: China is drawing up plans to subsidise its struggling iron ore sector, official media reported on Wednesday, with many high-cost mines forced to shut as a result of a collapse in global prices.China, the world's biggest steel producer, has long been worried by its growing dependence on foreign miners and has tried to maintain a level of self-sufficiency in the key raw material, but its mines have been unable to compete with massive low-cost producers in Australia and Brazil.The Shanghai Securities News said on its website that the state would soon publish new policies aimed at providing financial support to China's iron ore mining sector. It did not provide further details.Iron ore prices <.IO62-CNI=SI> have fallen around 60 percent since last year after a concerted effort by major producers to expand output and boost market share. The glut has been compounded by an economic slowdown in China, by far ...

China 2014/15 imports of corn substitutes to stay strong BEIJING: Chinese imports of corn substitutes, such as distillers' grains (DDGs), barley and sorghum, are expected to remain robust this year with buyers looking for cheaper alternatives to expensive domestic corn, analysts said.Beijing's stockpiling scheme means domestic corn prices are about 30 percent above global prices and with corn imports restricted by a quota system Chinese mills are looking for alternatives to cut production costs for animal feed. China's barley imports in the 2014/15 marketing ...
LME copper to retest support at $5,958 SINGAPORE: LME copper is expected to retest a support at $5,958 per tonne as it has completed a rebound triggered by this level.The support is provided by the 50 percent Fibonacci retracement on the rise from the March 18 low of $5,621.50 to the March 26 high of $6,294.50, temporarily blocking the way towards the 61.8 percent level at $5,879.A Fibonacci projection analysis reveals a resistance at $6,096, the 76.4 percent level of an upward ...
LME aluminium to revisit low of $1,766.50 SINGAPORE: LME aluminium may revisit its April 1 low of $1,766.50 per tonne, as it failed to break a resistance at $1,791.The resistance is provided by the 38.2 percent Fibonacci projection level of an upward wave c, the third wave of a presumed three-wave cycle that developed from the March 12 low of $1,745.The metal's failure to break the resistance has cast some doubt on whether this wave could extend, even though the calculation suggests ...
Shanghai copper may drop to 42,460 yuan SINGAPORE: Shanghai copper may drop to 42,460 yuan per tonne, as it could have resumed a downtrend falling from the March 24 high of 44,690 yuan.The resumption has been indicated by the completion of a moderate rebound from the April 2 low of 43,030 yuan. A Fibonacci retracement analysis on the rise from the Jan. 26 low of 38,860 yuan to 44,690 yuan reveals an immediate support at 43,310 yuan, the 23.6 percent level, a ...
Palm oil to test support at 2,175 ringgit SINGAPORE: Palm oil is expected to test a support at 2,175 ringgit per tonne, a break below which will lead to a further loss to the next support at 2,146 ringgit.These two supports are identified respectively as the 76.4 percent and the 86.4 percent Fibonacci retracements on the rise from the Jan. 30 low of 2,106 ringgit to the March 4 high of 2,400 ringgit. The depth of the fall from the April 6 high ...
CBOT soybeans to fall into $9.59-3/4 to $9.65 range SINGAPORE: CBOT soybeans May contract may fall more into a range of $9.59-3/4 to $9.65 per bushel, as indicated by its wave pattern and a Fibonacci projection analysis.The range has been formed by the 23.6 percent and the 38.2 percent Fibonacci projection levels of an upward wave c, the third wave of an irregular flat that developed from the March 17 low of $9.53-1/2. The depth of the fall from the April 2 high of ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln