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London copper steadies; China worries blunt buying SYDNEY: London copper steadied on Wednesday as persistent worries over growth and credit in top user China dulled buying interest, while Shanghai aluminium fell to a contract low due to overcapacity in China.Worries about spreading bankruptcies in China, after a solar panel-maker defaulted on a bond payment earlier this month, sent copper prices tumbling to three-and-a-half year lows in London, and to four-and-a-half year lows in Shanghai last week. While there is no sign that defaults have sparked upheaval in China's credit markets or have begun to unravel import financing deals, a major source of copper demand, traders are watching the issue closely and delaying orders for the metal. "Clearly, new financing deals are on hold, there's clearly a slowdown happening and mine supply looks good. If you take these three angles, it's tough to become really excited," said Dominic Schnider, an analyst with UBS Wealth Management in Singapore. "We ...

Wheat steady as US crop damage supports SYDNEY: US wheat futures were little changed in volatile trading on Tuesday as fears of an escalation of the Ukraine crisis eased, while weather-related US crop damage offered support.Soybeans fell, giving back most of Monday's gains, while corn edged lower for a second session and taking its losses over the two days to more than 1.5 percent.Chicago Board of Trade May wheat futures where unchanged at $6.74-1/2 a bushel, having opened up nearly 0.5 percent ...
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 ...
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 ...


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Foreign Debt $60.9bn
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WeeklyApril 14, 2014
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