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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 Securities in Hong Kong. "The down season is coming to an end now. Starting from September, there will be some recovery in seasonal demand at the utilization rate at fabricators." The most-traded October copper contract on the Shanghai Futures Exchange slipped by 0.5 percent to 48,950 yuan($7,966) a tonne on Wednesday. A break of the 200-day moving average around 48,608, is likely to trigger further selling. "The weakness in copper looks overdone but we can't ...

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 ...
London copper edges up as dollar turns lower SYDNEY: London copper edged up on Thursday, after touching a five-week trough in the previous session, as the dollar eased from nine-month peaks and relieved pressure on metals. A stronger dollar tends to weigh on commodities that are priced in the US currency because it makes them more expensive for holders of other currencies. The dollar has strengthened recently because of safe-haven buys due to escalating tension over Ukraine plus Europe's economic problems, but it ...

 



 
Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln