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London copper off 2-1/2 month peak on slightly firmer dollar MELBOURNE: London copper slipped on Wednesday from more than two-month highs hit the previous session as the dollar firmed, but expectations of falling mine supply supported prices.The dollar clung to modest gains early in the session, partly after U.S. consumer prices rebounded in February keeping the Federal Reserve on course to raise interest rates this year.A stronger dollar erodes the purchasing power of buyers paying with other currencies.Copper demand from top consumer China is picking up only slowly after Lunar New Year."We see 0.5 percent demand-growth for copper this year, the lowest since 2006 ... it's not looking like there will be robust demand-growth from consumers," said analyst Matthew Fusarelli at AME Group in Sydney.He added that AME sees a 410,000-tonne surplus this year, but said that could dwindle on supply threats."I think copper this year will do better than many expect."Three-month copper on the London Metal Exchange had slipped ...

London copper comes off 2-1/2 month high after China flash PMI MELBOURNE: London copper hit the highest in more than two months on Tuesday, as a weaker dollar fuelled chart-based buying, before giving back most of its gains after a weak reading on factory health in top consumer China.Activity in China's factory sector dipped to an 11-month low in March as new orders shrank, a private survey showed, signalling persistent weakness that will likely add to calls for more policy easing."People are still questioning the strength ...
Copper bounces from 2-week low as bank news sparks short-covering MELBOURNE: London copper bounced off early two-week lows on Monday after some Chinese banking stocks soared on hopes Beijing would grant more brokerage licences, which forced copper shorts to cover and offset the impact of gloomy Chinese imports and a strong dollar.China said it was considering issuing banks with brokerage licences as part of financial reforms, which sent stocks of banks up sharply.The gains in metals came despite the dollar's strength after Friday's jobs report ...
Wheat extends gains into third session, near one-week high SYDNEY: US wheat futures rose for a third consecutive session to hover close to a one-week high as the grain drew continued support from concerns about potential damage to US supplies.May wheat rose 0.6 percent to $5.16 a bushel, having closed up 2.5 percent on Friday when prices hit a one-week high of $5.17-3/4 a bushel.Chicago Board Of Trade May soybeans rose 0.2 percent to $10.33-1/4 a bushel, having firmed 0.5 percent on Friday when ...
Glencore cuts Australian coal output on weak demand, supply glut SYDNEY: Mining and commodities giant Glencore Xstrata on Friday said it was reducing its coal production in Australia by 15 million tonnes amid weak global demand and oversupply.It is understood that up to 120 jobs at Glencore's 13 Australian mines could be affected as a result of the cuts, which will include scaling back some operations and deferring projects.The announcement follows the Swiss company's decision to shut its mines for three weeks over the Christmas ...
London copper drifts as China holiday draws to close| MELBOURNE: London copper slipped on Tuesday on trader caution ahead of a speech by Federal Reserve Chair Janet Yellen later in the session, with volumes expected to improve as China returns from a week-long break on Wednesday.The overall mood on copper remains gloomy, given China's slowing growth and struggling property sector, with physical traders expecting only light consumer buying into next week, as China filters back from holiday."The weakness in prices we saw in the ...
Australia's Roy Hill iron ore mine on schedule for Sept 2015 PERTH: Australian billionaire Gina Rinehart's $10 billion Roy Hill iron ore mine is on track to begin exporting in September 2015 and will have shipped 5 million tonnes by the end of the year, a company executive said on Wednesday."We're certainly on budget. We remain ahead of overall schedule," Garry Torte, Chief Financial Officer of Roy Hill, told Reuters. The 55-million-tonnes a year mine is expected to ramp up ahead of the company's original 30-month ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln