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London copper up as Fed rate hike expectations unwound MELBOURNE: London copper climbed on Wednesday to near its highest in a week as investors backed away from expectations the Federal Reserve would bring forward its timeline to raise interest rates at the end of its two-day meeting later in the session. The Wall Street Journal's Fed watcher Jon Hilsenrath said the central bank would keep the words "considerable time" in its policy statement, although it might qualify them.The phrase has become a touchstone for when the Fed might start raising rates and dropping it would be read as a hawkish step.The change in rate expectations fuelled short-covering and stop-loss buying across metals including copper, traders said, because cheaper capital supports industry and investors.Copper prices however are still broadly expected to weaken towards year end when fresh supply rolls on to the market. "China buying had a cracking start to the year but has been softer in the past few ...

London copper inches up, Fed meeting in focus MELBOURNE: London copper edged up on Tuesday from near three-month lows, as traders squared their books ahead of a Federal Reserve meeting that is expected to offer clues on when US interest rates will climb.London Metal Exchange aluminium, nickel and zinc all rose around 1 percent, with lead up around half a percent, although traders noted that volumes were lower than usual. "There's an element of retracement from yesterday's weakness and possibly a bit of ...
LME copper near 3 month low on China growth jitters MELBOURNE: London copper slipped towards three-month lows on Monday after growth at China's factories stumbled to its weakest in nearly six years in August, fuelling concerns over its metals demand. As well as weakening growth in China's factories, growth in other key sectors also cooled, raising fears the world's second-largest economy may be at risk of a sharp slowdown unless Beijing takes fresh stimulus measures. "It's going to be a messy day I think," said ...
LME copper holds near 1 month low as stock build looms SYDNEY: Copper was perched above one-month lows on Thursday but looked vulnerable to fresh losses as cracks appeared in global economic growth, while expectations supply will rise towards year-end also kept a lid on prices. An abrupt slowdown in China's credit growth as well as wobbles in Europe's economy as result of sanctions over the Ukraine are threatening to derail global growth and casting a pall over metal demand. Added to these concerns are worries ...
London nickel slips from two-month highs on stronger dollar SYDNEY: London nickel slipped from near two-month highs on Tuesday as the dollar rose, sparking profit-taking across metals, but gains were underpinned by prospects of an ore export ban from the Philippines. Nickel prices rallied more than 7 percent over the previous four trading days on concerns the top supplier of nickel ore for China's stainless steel industry could wind back or halt exports, worsening a supply shortfall after a similar move by Indonesia in ...
Corn futures extend losses as frost threat eases SYDNEY: US corn futures inched down on Tuesday as concerns over potential frost damage eased, extending losses into a sixth session out of seven amid expectations for a record crop.Wheat followed corn lower, while soybeans also edged down as cold weather forecasts weakened.Chicago Board of Trade December corn futures fell 0.4 percent to $3.47 a bushel, having closed down 2.2 percent the session before."The thinking now is that the cold snap is not severe enough ...
Australia's largest wheat exporter scraps port access plan SYDNEY: CBH Group, Australia's largest wheat exporter, has scrapped plans for a new system to allocate port access at its grain terminals following complaints from some users that the scheme was unfair to new entrants to the market. Australian regulations require grower cooperative CBH Group to offer access at its four grain terminals in the state of Western Australia to rival exporters such as Cargill and Glencore.The company said in a statement on Tuesday that ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln