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Copper futures drop, oversupply worries drag SYDNEY: Copper prices inched down on Monday, reversing gains from the previous session on concerns over global oversupply. Copper is down some 13 percent so far this year on worries the market is heading into a supply surplus after several years of deficit, and on slowing economic growth in China, which consumes nearly half the world's copper.A worldwide surplus of 300,000 tonnes is forecast in 2015 by Australia's Bureau of Resource and Energy Economics, equivalent to half a year's output by South Korea.Three-month copper on the London Metal Exchange had slid 0.18 percent to $6,388 a tonne by 0148 GMT. The most-traded copper contract on the Shanghai Futures Exchange dropped 0.82 percent to 45,000 yuan ($7,230) a tonne. Offsetting some of the new supply heading into the market, an expansion of Chilean copper company Codelco's El Teniente underground mine has fallen around two to three years behind schedule and will ...

LME copper eases in step with oil SYDNEY: London copper was lower on Thursday, shedding modest overnight gains in step with weaker oil, while Shanghai copper futures ended flat, stabilised by a positive economic survey of Chinese companies. Sales, profits, and employment in China improved "a bit" during the second half of the year, the China Beige Book said in a research note distributed to clients, citing findings from its quarterly survey of 2,000 Chinese firms. It noted that wage and job ...
Wheat eases, but stays near 6-month peak on Russian supply worries SYDNEY: US wheat futures fell on Thursday, edging down for the first time in six sessions, although losses were checked by persistent concerns over supply from key exporter Russia.Corn fell after firming more than 0.5 percent in the previous session, while soybeans also slipped.Chicago Board of Trade March wheat futures dipped 0.27 percent to $6.46-3/4 a bushel by 0230 GMT, after ending up 4 percent on Wednesday when prices hit a six-month top of $6.50-3/4 ...
London copper mired near 1-week lows on China worries SYDNEY: London copper slipped on Tuesday to its lowest in a week after factory growth in top metals consumer China shrank in December for the first time in seven months, further curbing investor appetite for risk. Sentiment had already been soured by sliding oil prices, undermining support for metals. Crude prices plunged further on Monday after OPEC once again said it would not cut oil output despite fears of a glut, and a UAE official ...
LME copper shrugs off oil rout; China stimulus hopes support SYDNEY: London copper was steady on Monday, holding up despite a steep drop in crude oil, on expectations that China could move to shore up its economy and on tightening supply. Brent crude futures dropped as much as 2.5 percent on Monday to a new five-year low near $60 a barrel after the International Energy Agency forecast further price falls and OPEC's chief defended the group's decision not to cut its output target."What you're seeing ...
Wheat extends gains on fund buying PARIS/SYDNEY: Chicago wheat futures extended a rally on Friday to move above the psychological $6 barrier as buying interest from investment funds outweighed signs of large global supply and uncompetitive US export prices. Corn also rose for a second day, with the benchmark contract rising above $4 to its highest in nearly five months, and soybeans edged higher to trade close to a one-month high, with strong demand encouraging investors to overlook record supply. Chicago ...
Aluminium premiums expected to hit record high in 2015 SYDNEY: Global aluminium premiums are expected to reach fresh record highs by mid-2015 on a supply deficit in the United States and Europe, a Reuters survey showed.Premiums have surged this year, more than doubling in the United States, as a revival in auto demand spurred aluminium consumption, while smelter shutdowns and use of the metal in financing deals squeezed supply.But premiums next year will rise at a slower pace as new rules reduce queues at ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln