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Copper drifts as traders take profits on tepid demand SYDNEY: London copper drifted on Wednesday as traders took profits after prices failed to build on last week's two-month highs, suggesting lukewarm appetite from consumers despite the peak season for demand. Copper prices neared $7,000 a tonne late last week, clawing back 10 percent from a March trough amid falling stockpiles and tight supply in China.But gains have spluttered out, with consumers preferring to wait for prices to fall before making fresh purchases. "After the run we've seen in copper, it should be ready for a correction," said analyst Dominic Schnider of UBS Wealth Management in Singapore. "Financing demand continues, but we would expect economic reality to prevail and you'll see a more material slowdown in China's imports," he added. Three-month copper on the London Metal Exchange edged down 0.2 percent to $6,868.75 a tonne by 0243 GMT, extending a small loss from the previous session. The most-traded August copper ...

Copper near 2-month peak; nickel sinks in volatile trade SYDNEY: Copper clung near two-month peaks on Tuesday on hopes a new raft of financial reforms would shore up China's slowing economy, while nickel prices sank in volatile trade despite supply concerns.Adding to supportive measures, China's State Administration of Foreign Exchange said on Monday it will reform the management of cross-border foreign exchange guarantees.Efforts by China to quicken the pace of reforms to support growth in the world's second-biggest economy have helped to improve sentiment ...
Copper hits 11 week high on tight supply SYDNEY: London copper hit its highest in 11 weeks on Monday as China pledged to quicken the pace of financial reform, supporting growth in demand for commodities as global exchange supplies of the metal dry up. "It's been an impressive rally from the March lows with a very strong seasonal backdrop to copper total inventories are also declining very quickly at the moment," said analyst Mark Keenan at Societe Generale in Singapore."The recent fall was ...
LME nickel plunges nearly 10pc, gripped by technical selling SYDNEY: London nickel plunged nearly 10 percent on Thursday as light profit-taking triggered a blast of momentum-based sales after supply concerns fuelled a rally of more than 15 percent in the past week. Nickel prices had surged more than 50 percent this year to reach the highest in two years on Tuesday, after top ore supplier Indonesia banned exports in January. But as some investors took profits, traders said chart-based sales were triggered pushing prices ...
Shanghai copper up 2pc; nickel hits new 27-month peak SYDNEY: Shanghai copper rose as much as 2.1 percent on Tuesday on covering of short positions by investors due to tight local supply, while London nickel hit a fresh 27-month peak, underpinned by fears of a worsening supply shortfall. Metals pared early session gains, however, after Chinese investment, retail sales and factory output growth all disappointed in April by hitting multi-year lows, suggesting the world's second-largest economy is still losing steam despite government efforts to ...
Wheat extends decline into fifth session SYDNEY: US wheat futures fell for the fifth session on Tuesday as prices continued to come under pressure from US forecasts for ample global stocks, though confirmation of crop damage in the world's largest exporter reined in losses.Corn was little changed despite the US Department of Agriculture pegging planting progress in excess of market expectations, while soybean prices firmed, rebounding from losses of 1.5 percent the day before.Chicago Board of Trade July wheat futures fell ...
Shanghai copper up 2pc; nickel hits new 27-month peak SYDNEY: Shanghai copper rose as much as 2.1 percent on Tuesday on covering of short positions by investors due to tight local supply, while London nickel hit a fresh 27-month peak, underpinned by fears of a worsening supply shortfall. "The copper market is tight inside and outside China," said Joel Crane, analyst at Morgan Stanley in Melbourne. "Inventories are falling, we are in the midst of peak Chinese demand season, Chinese producers are going to ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln