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Copper drops towards 6 week lows, geopolitics clouds outlook SYDNEY: London copper skidded to within sight of its lowest since June on Tuesday, as concerns over geopolitical tensions in Iraq and Ukraine clouded the outlook for demand amid thin summer trade. Copper prices have been hemmed in a range of $6,950-$7,210 per tonned since July, with demand cooling over the northern hemisphere summer and with a squeeze on metal supply beginning to ebb as key smelters in China and South Korea restart after maintenance. Improving supply is setting up copper for lower prices in the months ahead, although trading conditions are likely to remain quiet in the near term, analysts said. "It's peak summer. Volumes are thin. Moves can be exaggerated so people are reluctant to commit to too much trading activity," said analyst Mark Keenan of Societe Generale in Singapore. Three-month copper on the London Metal Exchange had slipped 0.4 percent to $6,967 a tonne by 0229 GMT, ...

Wheat extends losses into 4th session, USDA report in focus SYDNEY: US wheat futures fell for the fourth straight session on Tuesday, recording their longest losing rally in a month as concerns over export disruptions from the Black Sea region eased.Corn fell on expectations that the US Department of Agriculture would confirm bumper domestic production, while soybeans also edged lower despite a surprise deterioration in crop quality last week.Chicago Board of Trade September wheat futures had dropped 0.64 percent to $5.43 a bushel by 0243 ...
London copper climbs above $7,000 as geopolitical tensions cool SYDNEY: London copper edged up on Monday as appetite for risk grew following a move by Russia that soothed tensions over the Ukraine, while optimism over the outlook for China's economy underpinned demand. Russia's defence ministry said on Friday it had finished military exercises in southern Russia, which the United States had criticized as a provocative step amid the Ukraine crisis. "The whole geopolitical theme has permeated quite strongly through the markets ... Base metals ...
London copper edges up as dollar turns lower SYDNEY: London copper edged up on Thursday, after touching a five-week trough in the previous session, as the dollar eased from nine-month peaks and relieved pressure on metals. A stronger dollar tends to weigh on commodities that are priced in the US currency because it makes them more expensive for holders of other currencies. The dollar has strengthened recently because of safe-haven buys due to escalating tension over Ukraine plus Europe's economic problems, but it ...
Soybeans fall on USDA condition report, wheat edges lower SYDNEY: US new-crop soybeans fell on Tuesday after the US Department of Agriculture pegged the crop condition above market expectations, while wheat edged lower for the first time in five sessions, though expectations for increased demand for US supplies provided a floor to losses.Corn fell after posting gains of 2 percent in the previous session, the biggest daily gain for the contract for nearly two months.Chicago Board of Trade November soybeans fell 0.53 percent to ...
London copper pauses as Freeport eyes exports SYDNEY: London copper opened flat on Monday after a two percent gain last week, stalling on news that major miner Freeport was set to resume concentrate exports from Indonesia after a six-month halt. Freeport-McMoRan Inc clinched a deal with the Indonesian government on Friday allowing the miner to resume copper concentrate exports from the country, effectively ending a six-month tax dispute and paving the way for more miners to follow suit. A resumption in exports ...
Soybeans extend two-day gains to 2pc on dry weather concerns SYDNEY: US new-crop soybeans rose for a second straight session on Thursday to extend gains to 2 percent, as the oilseed drew support from concerns that dry weather might limit yields as old-crop stocks run tight. Copyright Reuters, 2014 ...

 



 
Index Closing Chg%
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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 20, 2014
Reserves $13.436 bln