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Copper slips as traders take profits on China bank reserve move MELBOURNE: London copper sank on Thursday from two-week highs touched the session before as traders who bought copper on talk of fresh easing measures by China took profits after it cut its bank reserve requirements.China's central bank made a system-wide cut to bank reserve requirements on Wednesday, the first time it has done so in over two years, to unleash a fresh flood of liquidity to fight off economic slowdown and looming deflation."The market is not too fully convinced that this is the real deal in terms of boosting metals demand," said analyst Dominic Schnider of UBS in Hong Kong."The focus remains on why they are doing this in the first place, and the focus is weak activity," he added. UBS expects copper to potentially test the $5,000 a tonne level.China's factory sector unexpectedly shrank for the first time in nearly 2-1/2 years in January.Three-month copper on the London Metal ...

Copper see-saws as it strives to hold gains amid oil slip SYDNEY: London copper futures traded slightly lower in late Asia trading, see-sawing during the day and holding close to the strongest gains since mid-2013 posted overnight."Copper made a strong showing after Tuesday's (London) session though some profit-taking was inevitable," said a trader in Sydney.Three-month copper on the London Metal Exchange was 0.36 percent lower at $5,669.50 at 0748 GMT. The contract jumped more than 3 percent in Tuesday's London session on the back of higher ...
Shanghai copper jumps nearly 3pc on China stimulus hopes MELBOURNE: Shanghai copper jumped nearly three percent on Monday, after an official report showed factory growth in China shrank for the first time in more than two years last month, fuelling hopes for increased stimulus from the world's second biggest economy.A private business survey mirrored the result, showing the factory sector contracted a second straight month in January, as 2015 got off to a rocky start.The more China's economy slows, the more pressure Beijing will ...
London copper climbs as dollar falters ahead of Fed MELBOURNE: London copper moved further away from 5-1/2-year lows on Wednesday, propped up by a weaker dollar after a drop in US capital goods orders sparked talk the Federal Reserve might push back its timeline for raising interest rates.Copper prices have been walloped by persistent signs of weakening growth in top user China as well as sickly European demand and a surge in the dollar.The Federal Reserve is expected to signal it remains on track ...
London copper sags as traders trim risk ahead of ECB meet MELBOURNE: London copper slipped on Thursday from one-week highs hit the session before, as traders took profits on long positions built up on expectations the European Central Bank will announce weighty bond-buying measures later in the day.Weakness during Asian trading hours reflects some scepticism by regional traders on the impact of any ECB move, said strategist Daniel Hynes of ANZ in Sydney."Copper is certainly still heavily shorted so I think you'll continue to see these ...
London copper climbs off 5-1/2 year lows; China, ECB in focus MELBOURNE: London copper climbed on Monday as prices recovered from last week's 5-1/2 year lows after China's state grid boosted spending plans, but caution over China's economy and this week's European Central Bank meeting were expected to cap any upward momentum.As part of a broader package of stimulus to help shore up its struggling economy, China's state power grid on Friday announced plans to boost investment by 24 percent this year to 420 billion yuan ...
London copper eyes biggest weekly loss in more than three years MELBOURNE: London copper edged up on Friday after Beijing boosted lending measures but it was set to notch up its biggest weekly loss since 2011, hammered by bearish sentiment on global growth, with traders looking to sell into any rallies.Copper found near-term support from news China's central bank will increase its relending quota by 50 billion yuan ($8.1 billion) this year, stepping up efforts to give targeted support to parts of the economy it sees ...

 



 
Index Closing Chg%
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln