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Record China iron ore futures hold global market hostage SINGAPORE: Iron ore miners from Australia to Brazil stood helpless last month as Chinese speculators first bought and then sold a record volume of Dalian iron ore futures, sending global prices on a roller-coaster ride. The volume of iron ore futures traded on the Dalian bourse reached 18.6 million contracts in April, equivalent to 1.86 billion tonnes, according to data on the exchange's website. That was a monthly record, and far surpassed annual global sea-borne trade of around 1.4 billion tonnes. The deals were driven by hundreds of domestic private funds, which went long on Dalian iron ore futures as Chinese steel mills replenished run-down inventories of the raw material. The funds later sold when they viewed the market as overbought. Foreign companies are not allowed to invest directly in Chinese commodity futures unless they have units registered in China. The global benchmark spot price spiked 27 percent from a ...

CBOT July corn to drop to $3.57 SINGAPORE: CBOT July corn is expected to drop to $3.57 per bushel as it has cleared support at $3.62-3/4.Support is identified as the 76.4 percent Fibonacci projection level of a downward wave c, the third wave of a three-wave cycle that developed from the Dec. 29, 2014 high of $4.31-1/2.The next support will be at $3.57, the 86.4 percent level, a break below which could cause a loss to $3.49-1/2, the 100 percent level.A rise ...
Iron ore extends losses as rout resumes SINGAPORE: Spot iron ore slid on Thursday, adding to steep losses in the previous session as Chinese buying interest tapered off after a recent restocking binge that lifted benchmark spot prices by as much as 27 percent this month.Iron ore for immediate delivery to China's Tianjin port softened 1.2 percent to a one-week low of $56.20 a tonne, according to The Steel Index.Earlier in the week the steelmaking ingredient rose to $59.20 a tonne, its ...
LME aluminium to test resistance at $1,892 SINGAPORE: LME aluminium is expected to rise to $1,892 per tonne, as it has cleared a resistance at $1,869.The resistance is at the 100 percent Fibonacci projection level of an upward wave C, the third wave of a three-wave cycle that developed from the April 13 low of $1,756.The next resistance will be at $1,892, the 123.6 percent level, a break above which could lead to a further gain to $1,906, the 138.2 percent level. ...
Shanghai copper to drop to 43,390 yuan SINGAPORE: Shanghai copper is expected to drop to 43,390 yuan per tonne, as it has failed again to break a resistance at 43,920 yuan.The resistance is identified as the 23.6 percent Fibonacci projection level of a presumed wave c, the third wave of a three-wave cycle that developed from the Jan. 26 low of 38,860 yuan.Alternatively, this wave could be the third leg of a flat that started at the April 15 low of 42,570 ...
CBOT soybeans to retest resistance at $9.87-1/2 SINGAPORE: CBOT soybeans May contract is expected to retest a resistance at $9.87-1/2 per bushel, with a good chance of breaking above this level and rising more to $9.91-3/4.The resistance is provided by the 61.8 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle that developed from the April 10 low of $9.44-1/2.This wave could eventually travel to $10.01-1/2, its 100 percent projection level. A Fibonacci retracement analysis ...
Dalian iron ore slips as market rally seen overdone SINGAPORE: Iron ore futures in China fell on Wednesday after a recent rally that lifted benchmark spot prices by a quarter in the past two weeks and which some saw as overdone.With the iron ore market still well supplied and Chinese steel sales not picking up strongly, the upside potential for prices may be limited, traders and analysts say.Iron ore for September delivery on the Dalian Commodity Exchange was down 1.6 percent at 422.50 yuan ...

 



 
Index Closing Chg%
Arrow DJIA 18,041.54 1.04
Arrow Nasdaq 5,032.75 1.11
Arrow S&P 2,104.20 1.03
Arrow FTSE 6,948.99 1.18
Arrow DAX 11,625.13 1.61
Arrow CAC-40 5,083.54 0.66
Arrow Nikkei 20,437.48 0.12
Arrow H.Seng 28,249.86 0.92
Arrow Sensex 27,531.41 0.41





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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%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln