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London copper hits one-week high on short-covering SYDNEY: London copper rose to a one-week high on Tuesday as risk assets gained favour on a slight easing of tensions over Crimea, forcing covering of short positions. But some copper users said they were holding off fresh orders, suggesting the price gains may not sustain. Copper prices were battered to three-and-a-half-year lows last weak by fears that a domestic bond default in China could flag more deeply rooted-problems that could cause copper financing deals to unravel.China is the world's top user of copper, with at least half of its monthly imports seen feeding financing demand, where importers onsell copper to domestic markets to raise capital for investment in higher-yielding assets such as real estate. Huge short-selling on a bearish outlook for copper, given China's slowing growth, has left the market vulnerable to a technical rally as short holders rush to close out positions, industry sources said. "Certainly short-covering has ...

Wheat drops after rising about 3 pct on Ukraine crisis HAMBURG/SYDNEY: US wheat futures dropped sharply on Monday on profit-taking after a near 3 percent rise in the previous two sessions as escalating tensions in Ukraine raised fears over disruption to exports.Soybeans fell for the second straight session as a bumper Brazilian harvest and weaker demand from China weighed, along with bearish market talk the US was making unusual imports of Brazilian soybeans."I think we are seeing some profit-taking in wheat today after the recent ...
London copper finds fragile calm, China worries cap gains SYDNEY: London copper was steady on Monday, hovering close to last week's three-year lows in light trade as concerns about Chinese growth capped gains and eroded buying interest. Copper slumped last week as a Chinese bond default sparked fears financiers in the country would dump the metal, but lower prices encouraged some tentative buying on Monday ahead of a seasonal pick up in demand. "Real demand is resuming month-on-month in March and it may be ...
Wheat firms on Ukraine crisis, up nearly 3pc over 2 days SYDNEY: US wheat futures rose nearly 1 percent on Monday, extending two-day gains to nearly 3 percent, as escalating tensions in Ukraine raised fears over potential curbs to exports.Soybeans fell for the second straight session as a bumper Brazilian harvest and weaker demand from China weighed, while corn edged lower.Chicago Board of Trade May wheat futures rose 0.8 percent to $6.93 a bushel by 0245 GMT, having closed up 2 percent on Friday."I feel that ...
Copper comes off 8-month low, China worries cap gains SYDNEY: London copper edged up on Tuesday after sliding to its lowest in more than eight months in the previous session, although worries about the economic health of top metals consumer China continued to sour investor sentiment and cap gains. Heavy selling has been seen in copper since Friday, with prices in Shanghai mired near 4-1/2 year lows, on fears China copper deals could unwind after the country's first domestic bond default last week. A ...
Soybean prices drop ahead of USDA report SYDNEY: US soybeans fell nearly 1 percent on Monday, giving back much of the gains from the previous session as traders readied for the latest US Department of Agriculture report on production.FUNDAMENTALSChicago Board of Trade May soybeans fell 0.75 percent to $14.46-3/4 a bushel, having firmed 1.34 percent on Friday.May corn dropped 1.43 percent to $4.82, after sliding 0.41 percent in the previous session when prices hit a peak of 5.02-1/2 a bushel - their ...
Shanghai copper slides 5pc on China concerns SYDNEY: Shanghai copper dropped by its 5 percent daily limit on Monday to its lowest in more than four years after weak Chinese trade data fanned concerns over its metals industry following the country's first domestic bond default last week. China's exports unexpectedly tumbled in February, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy despite the Lunar New Year holidays being blamed for the slide. ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln