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Shanghai copper up 4 pct, plays catch up after holiday MELBOURNE: Shanghai copper rallied nearly four percent on Monday after China's factory activity shrank in April, boosting bets Beijing would take further easing steps, and as markets reopened after a long weekend. China's factories last month suffered their fastest drop in activity in a year, as new orders shrank, a private business survey showed on Monday, hardening the case for fresh policy stimulus to halt a slowdown in the world's second-largest economy. "I think the market will probably take it positively in that it will be a further reason to increase liquidity and also raises the spectre of further RRR cuts or other supportive measures," said ANZ analyst Daniel Hynes in Sydney, referring to cuts to banks' reserve requirement ratio in China.The most-traded July copper contract on the Shanghai Futures Exchange soared by 3.7 percent to 45,710 yuan ($7,328) a tonne by 0712 GMT. The most active ShFE nickel contract ...

Australia's iron ore shipments to China down 4pc in April SYDNEY: Australia's iron ore exports to China from Port Hedland, the world's biggest terminal for shipments of the raw material, fell 4 percent in April from March, port figures showed, as demand from China's steel mills dwindled amid a construction slowdown. Exports of the steelmaking ingredient to Australia's biggest trading partner totalled 30.1 million tonnes, down from 31.2 million tonnes the previous month, according to the Pilbara Ports Authority. The monthly total, however, represents an ...
Australian coal prices jump 10pc as storm halts shipments SINGAPORE: Australian coal cargo prices soared 10 percent this week after a huge storm hit the country's east coast, forcing the Newcastle export terminal to stop all ship movements, while meteorologists have warned that another storm was gathering off the coast.The cyclonic storm, which is lashing Australia's east coast for a third day and has been declared a catastrophe, has destroyed houses, cut power to more than 200,000 homes and caused millions of dollars of ...
Shanghai nickel slides 3pc on China construction worries MELBOURNE: Shanghai nickel slid 3 percent on Wednesday, echoing losses in London, on concerns that China's struggling construction sector would corrode demand for the stainless steel ingredient."Clearly the market is seeing the general weakness in the Chinese steel market as having a future impact on speciality feed markets as well - nickel has been suffering as a consequence," said strategist Daniel Hynes at ANZ in Sydney."If it continues, then zinc is vulnerable as well."The most-traded ...
Wilmar warns of potential Australian sugar production shortfall SYDNEY: Australia's sugar production during the 2014/15 season may miss official estimates as a result of recent dry weather across the northeast coast of the world's third-largest raw sugar exporter, Wilmar International Ltd said on Wednesday.Much of Queensland, which accounts for more than 95 percent of the Australian sugar cane production, received less than half the typical levels of rain between January and March, Wilmar said.Australian sugar production relies on rains during the first few ...
Nickel cuts weekly losses on technical, physical buys MELBOURNE: London nickel climbed nearly 2 percent on Thursday on technical buying, sparked after traders brought more into China following a steep price drop earlier in the week.Traders have stepped up imports of nickel and related products into China this week, after domestic nickel pig iron (NPI) plants shut due to a crackdown on pollution, and global prices fell to six-year lows, industry sources said.NPI is used in the production of stainless steel and as ...
London copper drifts ahead of Easter break MELBOURNE: London copper drifted towards two-week lows on Thursday as traders showed little urgency to lock-in stocks given sluggish demand growth in top consumer China, instead squaring positions ahead of a four-day Easter weekend in some countries.Companies struggled in China and much of the rest of Asia in March, suggesting central banks may have to resort to more stimulus. Slowing economic growth in China has dampened industrial demand for copper, keeping a lid on prices."We're ...

 



 
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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