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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 second half of 2014 triggered a lot of opportunistic buying and restocking, so the restocking effort that we normally see post the Lunar New Year might be relatively muted," said strategist Daniel Hynes of ANZ in Sydney."Inventory levels have built up a little, although they are not excessive. While the price is still relatively undervalued, I don't think it will be enough to entice the Chinese back."Three-month copper on the London Metal Exchange had slipped ...

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 ...
Australian wheat lowest in Iraq's 50,000 Tonnes wheat tender HAMBURG: Australian wheat was offered lowest at $279.70 a tonne c&f free out (ciffo) in a tender from Iraq's state grains board to buy at least 50,000 tonnes of hard wheat, European traders said on Monday.The tender closed on Sunday and offers must remain valid up to Thursday, Feb. 19, traders said.No purchase had yet been made, they said.Australian wheat was the main origin in the tender, with a total 550,000 tonnes offered, traders said.The ...
London copper edges up in thin trade ahead of Lunar New Year MELBOURNE: London copper firmed in thin trade on Thursday as demand slowed ahead of the Lunar New Year and as talks over Greece's debt crisis stalled."I'm still optimistic we'll see some post-Chinese new year activity in terms of both Chinese import demand and industrial activity in general, though my expectations have been tempered a bit by the recent weak data points," said strategist Daniel Hynes of ANZ in Sydney.Hynes said weaker-than-expected Chinese inflation data ahead ...
London copper climbs as oil lends support; China eyed MELBOURNE: London copper climbed in thin trade on Wednesday, underpinned by gains in oil, but traders were reluctant to take on big positions given worries over Chinese demand growth, and as business slackens ahead of Lunar New Year."Everybody is ready for holidays now, so I would say physical demand is pretty soft and sentiment is very bearish," said analyst Judy Zhu of Standard Chartered in Shanghai."People don't want to be rushing into the market at ...
London copper drifts; Chinese demand eyed MELBOURNE: London copper drifted on Tuesday as worries over Chinese demand lingered, and as businesses wind down ahead of the Lunar New Year holidays next week.China's annual consumer inflation hit a five-year low in January, underscoring persistent weakness in the economy after China's trade performance slumped in January. The data adds more pressures on policymakers to support growth."I am a bit surprised that copper didn't weaken more given the trade numbers we got over the ...
London copper steadies as China trade jitters subside MELBOURNE: London copper steadied on Monday, as jitters subsided following surprisingly weak Chinese import data at the weekend that fueled worries over fragile economic growth in China.China's trade performance slumped in January, with exports falling 3.3 percent from year-ago levels while imports tumbled 19.9 percent, far worse than analysts had expected and highlighting deepening weakness in the Chinese economy.Global price moves and the impact of holidays may have overstated the extent of the downturn.Still, the ...

 



 
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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
WeeklyMay 21, 2015
Reserves $17.75 bln