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Shanghai copper hits highest since early July as consumers restock SYDNEY: Shanghai copper hit its highest in around seven weeks on Monday, underpinned by steady consumer demand and after London prices logged the biggest weekly rise in 11 months last week. Copper prices are slowly recovering from near two-month lows hit mid-month, but given differing expectations of supply this year, analysts are mixed as to where prices will go from here.Mine supply is broadly expected to grow this year, but as miners dig deeper to obtain ore, supply tends to become more problematic and frequently falls short of expectations. "We're bearish copper," said Mark Keenan, analyst at Societe Generale in Singapore. "Based on supply growth, we see copper down at $6,500 at the end of the year." The London Metal Exchange is closed for a bank holiday on Monday. Benchmark copper on the London Metal Exchange (LME) hit its highest since August 5 on Friday and climbed by 3 percent ...

Shanghai copper edges lower towards key chart level SYDNEY: Shanghai copper dipped towards a major technical support level on Wednesday, with a break likely to trigger selling by momentum-based investors, as the market also eyed forecasts of improving supply. Global copper inventories are expected to rise as mine supply improves later in the year, although demand from makers of copper products is also expected to revive from its summer lull. "We should not be too bearish," said analyst Helen Lau at UOB-Kai Hian ...
Rio Tinto to review stake in closed Papua New Guinea copper mine MELBOURNE: Rio Tinto is set to decide on its stake in a long-dormant copper mine in Papua New Guinea's Bougainville after the passage of a new mining law on the island, with the company possibly pulling out of the project after a quarter of a century. The interim mining law converts Bougainville Copper Ltd's mining lease into an exploration lease.That can be converted to a mining lease if approved by the autonomous province's government, which ...
London copper rebounds from near two-month low SYDNEY: London copper edged higher on Monday, bouncing off last week's near two-month lows, as traders built up stocks on fresh signs of economic recovery in the United States and a view that the sell-off after weak Chinese data was too heavy. A recovery in copper prices that began in mid-March ran out of steam over summer, with prices seen capped as mines ramp up shipments to year-end. Suspected metals fraud in China has also ...
Copper drops towards 6 week lows, geopolitics clouds outlook SYDNEY: London copper skidded to within sight of its lowest since June on Tuesday, as concerns over geopolitical tensions in Iraq and Ukraine clouded the outlook for demand amid thin summer trade. Copper prices have been hemmed in a range of $6,950-$7,210 per tonned since July, with demand cooling over the northern hemisphere summer and with a squeeze on metal supply beginning to ebb as key smelters in China and South Korea restart after maintenance. ...
Wheat extends losses into 4th session, USDA report in focus SYDNEY: US wheat futures fell for the fourth straight session on Tuesday, recording their longest losing rally in a month as concerns over export disruptions from the Black Sea region eased.Corn fell on expectations that the US Department of Agriculture would confirm bumper domestic production, while soybeans also edged lower despite a surprise deterioration in crop quality last week.Chicago Board of Trade September wheat futures had dropped 0.64 percent to $5.43 a bushel by 0243 ...
London copper climbs above $7,000 as geopolitical tensions cool SYDNEY: London copper edged up on Monday as appetite for risk grew following a move by Russia that soothed tensions over the Ukraine, while optimism over the outlook for China's economy underpinned demand. Russia's defence ministry said on Friday it had finished military exercises in southern Russia, which the United States had criticized as a provocative step amid the Ukraine crisis. "The whole geopolitical theme has permeated quite strongly through the markets ... Base metals ...

 



 
IndexClosingChg%
ArrowDJIA 17,106.70 0.17
ArrowNasdaq 4,570.64 0.29
ArrowS&P 2,000.02 0.11
ArrowFTSE 6,822.76 0.70
ArrowDAX 9,588.15 0.82
ArrowCAC-40 4,393.41 1.18
ArrowNikkei 15,521.22 0.59
ArrowH.Seng 25,074.50 0.37
ArrowSensex 26,442.81 0.02





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln