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Australian grains competition heats up as GrainCorp rivals circle SYDNEY: Still rattled by the veto of a A$2.8 billion ($2.5 billion) takeover by Archer Daniel Midland, Australian grains handler GrainCorp is facing aggressive competition that could cut costs for farmers but hit earnings at the country's biggest listed agribusiness.Lower costs could also help Australia, the world's second-biggest wheat exporter, fend off a challenge from lower cost producers such as the United States in its key Asian markets, including Indonesia, South Korea and Japan.GrainCorp operates eastern Australia's biggest grain port, handling as much as 60 percent of the region's wheat, barley, canola, chickpea and sorghum crops, and has more than 280 inland grain handling sites.Western Australian grain exporter CBH Group and commodity trader Glencore Xstrata are among backers of a new grains terminal in Newcastle on Australia's east coast due to open next month near GrainCorp's own terminal.GrainCorp's storage and handling business is facing rivals such as Singapore-based Olam International ...

LME copper steady, physical shortage lends support SYDNEY: London copper was trading flat on Wednesday as expectations the US Federal Reserve may scale back stimulus measures next week reduced the allure of commodities, but a shortage of refined metal buttressed prices. Since opening at seven-month highs, copper prices have stalled this year as seasonally slow demand in China, and prospects of less cheap capital in the United States diminish appetite for commodities. China, the world's top copper consumer, celebrates new year at ...
London copper steady; China GDP shows cooling growth SYDNEY: London copper was barely changed on Monday as markets shrugged off easing fourth quarter economic growth in China, the world's top metals consumer, and instead focused on tight supply.China's annual growth eased to 7.7 percent in the fourth quarter as investment and demand flagged, and analysts say growth could cool further in 2014 as Beijing focuses on rebalancing the economy and other major reforms. China is the biggest user of most industrial metals, accounting ...
LME copper near 1 week peak, physical shortage underpins SYDNEY: London copper steadied near a one-week high on Thursday as a shortfall in physical markets underpinned prices, although prospects of aggressive action by the US Federal Reserve to curb stimulus kept a lid on gains. Strong US data and upbeat earnings from Bank of America helped offset worries of a slowdown in the world's largest economy that had been triggered by last week's disappointing payrolls report, swinging the focus back on the possibility of ...
Rio Tinto turns up mine output in iron ore, other minerals SYDNEY: Rio Tinto on Thursday recorded big increases in iron ore and other minerals it sells mainly to China, betting the country's massive economic growth will provide a ready market for decades to come.The world no. 2 iron ore miner behind Brazil's Vale did not provide guidance on its 2014 production, but is expected to reach an iron ore target of 290 million tonnes a year by mid-2014 as it seeks to feed Chinese steel ...
Copper steady, World Bank growth forecasts support SYDNEY : London copper was steady on Wednesday, with demand easing ahead of the Lunar New Year, but prices were buttressed by improving economic optimism after the World Bank raised its forecast for global growth. Copper prices have been stuck in a rut so far in 2014, capped by expectations that supply will climb as the year gets underway but underpinned by a shortfall of available metal in physical markets. "Definitely there is less demand ...
London copper drifts lower as caution on Fed stimulus drags SYDNEY: London copper edged lower on Thursday after a brightening economic picture in the United States raised prospects the Federal Reserve could more aggressively scale back stimulus, eroding support for commodities. Copper prices broke a four-month trading range to step above $7,400 a tonne in late December, but momentum has spluttered since on expectations the US will draw back stimulus and moderating growth in China, the top consumer of metals. "The dollar will continue to ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln