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Metals buoyed as Iraq conflict boosts commodity indices SYDNEY: London copper climbed on Thursday, buoyed as conflict in Iraq drove commodity indices higher, while Shanghai copper hit a 10-day peak after breaking through a key level on charts. The focus for metals markets has shifted to the Middle East, away from a gradually improving picture in the United States economy and China's fragile reaccelerating growth. "People generally allocate towards commodities when geopolitical risk increases, and they tend to buy indices which tends to ripple across commodities and of course into metals," said Societe Generale analyst Mark Keenan in Singapore. He added that if the market started to think tensions in Iraq could worsen or that fighting threatens oil supply, then there could be a "massive increase in risk premium" that could help push metals higher. Sunni insurgents seized a mainly ethnic Turkmen city in northwestern Iraq on Sunday after heavy fighting, solidifying their grip on the north after ...

LME copper slips towards 1-month low, China signals mixed SYDNEY: London copper eased towards one-month lows on Thursday, as investors fretted about demand in top consumer China amid government efforts to energise the economy.China's central bank said on Wednesday it would keep monetary policy steady in 2014, even as the finance ministry said fiscal spending had surged nearly 25 percent in May.China's cabinet also revealed that it was now planning more big infrastructure projects, including highways, train networks and oil and gas distribution and ...
Zinc at 15-month high on brighter demand, tighter supply SYDNEY: Zinc in London and Shanghai hit the highest in around 15 months on Wednesday as improving demand met tight supply, while copper premiums fell further in China as traders faced tougher financing conditions in the wake of a fraud investigation.A brighter picture for global growth is encouraging demand for metals with positive supply fundamentals such as zinc, with the U.S. economy gathering steam and European monetary policy looking set to stay loose for some ...
LME copper slips; aluminium, zinc hover near multi-month tops SYDNEY: London aluminium and zinc pulled back on Tuesday from multi-month highs hit the previous day as traders took profits, while copper slipped back towards one-month lows on worries about a Chinese probe into metals financing. Improving global demand prospects have helped to support prices for zinc and aluminium in particular, led by stronger than expected consumption and tight supply, and bolstered by continued monetary easing by central banks. The US macro economy is much ...
LME copper steady; aluminium, zinc hover near multi month tops SYDNEY: London aluminium and zinc hovered near multi-month highs on Tuesday as the outlook for demand improved, while copper steadied after worries about a Chinese probe into metals financing pushed prices to one-month lows the session before. Improving global demand prospects are helping support prices for zinc and aluminium in particular, led by stronger than expected consumption and tight supply - at least in the first half, said analyst Matt Fusarelli at AME Group. "Generally ...
Shanghai copper at one-month low on financing worries SYDNEY: Shanghai copper fell to its lowest in nearly a month on Monday and London copper also dropped, unsettled by concern that a probe into metals storage at China's third-largest port could squeeze financing and cut buying interest in metals. China's Qingdao Port International Co. Ltd. said on Friday the probe into suspected fraud involving copper and aluminium stored at the port would not impact its operations because the amounts involved were immaterial to its ...
London copper steady, global growth outlook supports SYDNEY: London copper was steady on Thursday, underpinned by robust US economic data and comments from China suggesting it had warded off a slowdown in growth. Shanghai copper prices calmed despite worries about a probe into metals financing at China's third largest port. "Demand globally is looking pretty good," said analyst Joel Crane at Morgan Stanley in Melbourne. "Obviously in China growth is lower than it was before but there is still growth. The problem ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
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WeeklyJuly 10, 2014
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