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Soybeans firm as Chinese demand stokes US shortage worries SYDNEY: Chicago soybeans rose on Thursday, extending gains into a second session, as fresh orders from China added to concerns about US supplies that have already been depleted by heavy exports.Wheat rose for the first time in seven sessions as traders squared positions ahead of the end of the month, while corn edged down after gaining more than half a percent on Wednesday.Chicago Board of Trade July soybeans rose 0.5 percent to $15.05 a bushel by 0333 GMT, having closed up 0.6 percent in the previous session."Soybeans are getting a boost from tight US stocks," said Andrew Woodhouse, grains analyst, Advance Trading Australasia."Crush margins in China have improved over the last couple of weeks, before which soybean cargoes were being diverted from South America to the US"The oilseed rallied after the US Department of Agriculture (USDA) said on Wednesday that private exporters had reported the sale of 110,000 tonnes of ...

LME copper steady at near 3-month high; nickel firms SYDNEY: London copper steadied on Wednesday after hitting a near three-month peak the previous day with prices supported by improving demand in top consumer China, while London nickel firmed as unrest at a New Caledonian mine kept supply threats in focus.A moderate recovery in China's manufacturing health according to a private sector survey earlier this month suggests factories are gaining steam while utilisation rates at China's cable makers - a large user of copper - ...
Shanghai copper rises to 3-month peak in holiday-thinned trade SYDNEY: Shanghai copper climbed on Monday to its highest since late February as seasonally strong demand put pressure on tight supplies amid modest trading volumes given holidays in Britain and the United States. An improvement in risk appetite also buoyed metals, after exit polls in Ukraine gave Petro Poroshenko, a confectionery magnate with long experience in government, 55 percent of the vote in the presidential election, fuelling hopes that geopolitical tensions would ease. "It seems ...
London copper climbs on China, US hopes SYDNEY: London copper edged up on Thursday from a nine-day low hit the session before, supported by a robust reading of China's factory sector and signals US rate hikes were not likely in the near-term. China's factory sector turned in its best performance in this year in May, a preliminary HSBC survey showed, though overall manufacturing growth still contracted slightly.New export orders, a proxy for foreign demand, showed the biggest turnaround. In the United States, ...
Copper drifts as traders take profits on tepid demand SYDNEY: London copper drifted on Wednesday as traders took profits after prices failed to build on last week's two-month highs, suggesting lukewarm appetite from consumers despite the peak season for demand. Copper prices neared $7,000 a tonne late last week, clawing back 10 percent from a March trough amid falling stockpiles and tight supply in China.But gains have spluttered out, with consumers preferring to wait for prices to fall before making fresh purchases. "After the ...
Copper near 2-month peak; nickel sinks in volatile trade SYDNEY: Copper clung near two-month peaks on Tuesday on hopes a new raft of financial reforms would shore up China's slowing economy, while nickel prices sank in volatile trade despite supply concerns.Adding to supportive measures, China's State Administration of Foreign Exchange said on Monday it will reform the management of cross-border foreign exchange guarantees.Efforts by China to quicken the pace of reforms to support growth in the world's second-biggest economy have helped to improve sentiment ...
Copper hits 11 week high on tight supply SYDNEY: London copper hit its highest in 11 weeks on Monday as China pledged to quicken the pace of financial reform, supporting growth in demand for commodities as global exchange supplies of the metal dry up. "It's been an impressive rally from the March lows with a very strong seasonal backdrop to copper total inventories are also declining very quickly at the moment," said analyst Mark Keenan at Societe Generale in Singapore."The recent fall was ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln