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Copper rout echoes oil; traders brace for more selling MELBOURNE: Copper prices extended their plunge on Wednesday to trade at the lowest in more than half a decade, as a rout that has punished other commodities such as oil took a firmer grip on the metal and traders braced for more losses. Prices of copper - often seen as a bellwether for global economic health because of its use in industries ranging from construction to consumer goods - spiralled as much as 8 percent lower at one point, and were on track for the biggest one-day slide in more than three years, after a downgrade to global growth forecasts roiled markets. The World Bank on Tuesday cut its growth forecast for 2015 and next year due to disappointing prospects in the euro zone, Japan and some major emerging economies. "Europe has been pretty sluggish, China's still got that property overhang, Japan's entered recession. You've got the US and UK ...

Copper suffers meltdown on growth anxiety, euro on defensive SYDNEY: Unease over the global economy engulfed commodities and dented Asian equities on Wednesday, while the euro loitered near nine-year lows as investors bet the European Central Bank was just a week away from launching a new stimulus campaign.As if the plunge in oil prices is not enough of a worry for global policymakers, copper futures dived 6.2 percent to $5,499 a tonne when major chart support cracked and triggered a host of stop-loss sales.The ...
London copper retreats below $6,000; nears five-year low MELBOURNE: London copper slipped back towards a five-year low below the $6,000-mark on Tuesday, shrugging off benign trade data from top metals user China as further falls in oil markets soured broader appetite for commodities. China's exports and imports exceeded market expectations in December, a welcome sign that Beijing has found support for its cooling manufacturing sector as a stronger US economy offsets weakness in Europe and Japan. Bargain hunters also helped to boost copper ...
London copper mired near 4-1/2 year lows on growth worries MELBOURNE: London copper teetered towards fresh four-and-a-half year lows on Monday, with investors betting further losses were to come given stuttering demand growth in the United States and China.US job growth increased briskly in December, but wages posted their biggest decline in at least eight years in a sign the tightening labour market has yet to give much of a boost to workers. China's annual inflation data gave policy makers more room to ease policy ...
London copper ticks up from 4-1/2-year lows as oil takes breather MELBOURNE: London copper climbed off 4-1/2-year lows on Thursday as oil steadied, but analysts and traders said that any calm could prove short-lived and Chinese buyers were waiting for lower prices."(Copper's price weakness) is intertwined with the sell-off in energy prices. I think it's very possible it will go through $6,000," said analyst Daniel Morgan at UBS in Sydney.Three-month copper on the London Metal Exchange was up 0.3 percent at $6,132 a tonne by 0343 ...
London copper stuck near 4-1/2-year lows on oil rout; eyes $6,000 MELBOURNE: London copper hovered near 4-1/2-year lows on Wednesday as a rout in global oil markets hit broader investor confidence in commodities, with prices expected to soon drop below $6,000 a tonne.Prices have also been hurt by worries over Chinese growth and as the possibility that Greece will quit the eurozone dents appetite for risk."It's easy to blame oil, but I think clearly Greece was (also) one of the key issues, and the numbers towards ...
Australia port's Dec iron ore shipments to China up 5pc SYDNEY: Exports of iron ore to China via the Port Hedland terminal rose 5 percent in December from November, underscoring in part a subdued start to the Australian cyclone season, figures released on Tuesday showed. December shipments to China from Port Hedland, which handles about a fifth of the world's seaborne trade, increased by 1.57 million tonnes month-on-month to 30.6 million, according to Pilbara Ports Authority. The increase, in the face of depressed spot iron ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln