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Australia's largest wheat exporter scraps port access plan SYDNEY: CBH Group, Australia's largest wheat exporter, has scrapped plans for a new system to allocate port access at its grain terminals following complaints from some users that the scheme was unfair to new entrants to the market. Australian regulations require grower cooperative CBH Group to offer access at its four grain terminals in the state of Western Australia to rival exporters such as Cargill and Glencore.The company said in a statement on Tuesday that it would bin the proposed new system for doing this after feedback to the Australian Competition and Consumer Commission. The system, under which slots were to be allocated based on historical shipping performance in Western Australia, had drawn fire from the market. "If everyone had got about 60 percent of what they applied for, it would have been accepted," said one grains trader, referring to allocations for a prime shipping period at the start of ...

LME copper steady, traders price in US rate hike delay SYDNEY: London copper was little changed on Monday with China trade thin due to a long weekend and expectations the Federal Reserve would delay an interest rate hike after Friday's weaker-than-expected U.S. jobs report.Easier policies announced by the European Central Bank last week and targeted easing by China has cushioned manufacturing industries by easing capital, but stuttering economic growth may yet stunt demand."More from the central banks, regardless of the numbers, will help drive prices," ...
LME copper drifts in low volumes; eyes on ECB SYDNEY: Copper drifted in low volume trade on Thursday as markets awaited fresh signals on whether the European Central Bank would act to shore up a faltering economy that could drag on world growth and metals demand.The European Central Bank is unlikely to take new policy action next week unless August inflation figures, due on Friday, show the euro zone sinking significantly towards deflation, ECB sources said. Looser policy from the euro zone central bank ...
Shanghai copper hits highest since early July as consumers restock SYDNEY: Shanghai copper hit its highest in around seven weeks on Monday, underpinned by steady consumer demand and after London prices logged the biggest weekly rise in 11 months last week. Copper prices are slowly recovering from near two-month lows hit mid-month, but given differing expectations of supply this year, analysts are mixed as to where prices will go from here.Mine supply is broadly expected to grow this year, but as miners dig deeper to ...
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 ...
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 ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln