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Copper under pressure as supply rises and outlook dims SYDNEY: London copper was under pressure from a deteriorating fundamental outlook on Monday after hitting its lowest level in six months in the previous session, hurt by worries over the end of US monetary stimulus and rising stocks. Copper has some of the weakest fundamentals among base metals as a wave of fresh supply works its way into the market. "Copper is looking weak from a supply and demand perspective," said a metals trader in Sydney. The trader said last week's 17.5 percent increase in copper inventories monitored by the Shanghai Futures Exchange was pulling the metal down. Three-month copper on the London Metal Exchange had dropped 0.5 percent to $6,606 by 0211 GMT, after closing on Friday at $6,640.00, up 1.3 percent on the day following a modest bounce from the six-month low. The most traded December copper contract on the Shanghai Futures Exchange was little changed at 47,120 ...

Corn set for biggest weekly gain in 17 months on harvest delays SYDNEY: US corn futures rose for a second session on Friday as the grain was set to post its biggest weekly gain in more 17 months due to harvest delayscaused by rain.FUNDAMENTALSChicago Board Of Trade front-month corn is up more than 6 percent for the week, its biggest weekly rally since May 2013. Front-month soybeans rise to be up more than 5 percent for the week, the third straight weekly gain and the biggest weekly ...
Fortescue quarterly iron ore output jumps as price sinks SYDNEY: Iron ore producer Fortescue Metals Group's September quarter shipments rose 60 percent from a year ago to 41.5 million tonnes, helping drive down costs in a hotly contested global market, the company said on Thursday.Australia's No. 3 iron ore miner said its average selling price fell to $71 per tonne over the quarter to Sept 30 from $121 per tonne tonne in the year earlier period, partly offset by a 3 percent drop in ...
Brent oil to retest support at $82.87 SINGAPORE: Brent oil is expected to retest support at $82.87 per barrel, with a good chance of breaking below it and falling more towards $77.70.The support has formed around the 86.4 percent Fibonacci projection level of a downward wave C that started at the June 19 high of $115.71. As the third component of a three-wave cycle that developed from the April 11, 2011 high of $127.02, the wave C may travel to $77.70, the ...
London copper holds ground, but economic growth worries drag SYDNEY: London copper held its ground on Thursday after logging its biggest daily fall in six months the session before, with mounting concerns over global growth stoking selling across other metals. US retail sales declined in September as consumers pulled back on spending for a range of items, a worrisome economic signal that helped fuel a sell-off on Wall Street. The rout extended to commodities, with nickel, zinc and lead on the London Metal Exchange ...
Corn rebounds from sharp losses, dry weather f'cast caps gains SYDNEY: US corn futures edged higher on Thursday after losses of more than 2.5 percent in the previous session, but gains were capped by forecasts of dry weather that should help harvesting.Wheat rose, drawing support from a weaker US dollar, while soybean prices edged lower.Chicago Board of Trade front-month corn futures climbed 0.36 percent to $3.48-3/4 a bushel, having closed down 2.7 percent the day before.Corn has drawn support from a weaker dollar, which makes ...
LME copper slips from 2-wk peak, growth worries linger SYDNEY: London copper slipped on Tuesday from two-week peaks hit the session before after comments by the Federal Reserve fuelled worries over global growth, disturbing a fragile calm after robust Chinese economic data. China posted a surprisingly strong trade performance in September, soothing worries over a slowdown in the world's top metals user. It also logged a nearly 15 percent jump in copper imports. "The follow through from yesterday's trade data looks a little bit ...

 



 
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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%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln