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Copper steadies, but gains capped by growing supplies LONDON: Copper steadied on Monday as risk-hungry investors saw value in a metal whose price lost 2.4 percent last week, though worries over China's property sector and a build-up of copper stocks kept gains in check.COMEX copper speculators boosted net "long" or buy positions to their highest level since at least 2006 in the week to July 15, according to the Commodity Futures Trading Commission and Reuters data.Still, the case to sell copper remained strong. Shanghai copper stocks rose 28.9 percent last week, LME stocks have risen since late June, and Comex copper stocks have climbed to eight-month peaks. "Commodities have seen a clear increase in investor interest ... (but) we are negative on copper. Our current forecasts anticipate copper surpluses of 225,000 tonnes in 2014, followed by 285,000 tonnes in 2015," said Nic Brown, head of commodities research at Natixis.Three-month copper on the London Metal Exchange traded at $6,989.25 ...

Turkey tenders to buy 165,000 T wheat, 65,000 T barley: trade HAMBURG: Turkey's state grain agency TMO has issued an international tender to purchase and import up to 165,000 tonnes of milling wheat and 65,000 tonnes of animal feed barley, European traders said on Monday.The new tender follows a series of large import purchases by Turkey and closes on Thursday, July 24, traders said.Turkey is among countries affected by the Middle East's driest winter in several decades, which reduced crop yields and threatens to hit food ...
Gold above $1,300/oz on lower shares, geopolitical concerns LONDON: Gold steadied above $1,300 an ounce on Monday, as European shares weakened and political tensions simmered after the downing of a Malaysian airliner in eastern Ukraine last week and incessant fighting in Gaza.Spot gold was up 0.3 percent to $1,314.19 an ounce at 0955 GMT, while U.S. gold futures for August delivery were up 0.4 percent at $1,314.70 an ounce.Gold jumped 1.4 percent last Thursday as some investors sought protection against any drop in ...
Commodity markets rattled by Ukraine airplane disaster LONDON: Global commodity markets were gripped this week by the Malaysian air crash, which has dramatically raised tensions between Russia a key producer of many raw materials and the West.The doomed Malaysia Airlines MH17 flight, which crashed killing 298 people on Thursday, was "likely downed" by a surface-to-air missile fired from separatist-held eastern Ukraine, a US envoy said Friday.Investor sentiment was already hit by broadened US sanctions on Russian energy, defence and financial firms to ...
Copper facing biggest weekly drop since mid-March LONDON: Copper fell to a two-week low on Friday, and its weekly performance headed for the biggest drop in 18 weeks, on concerns about the Chinese property sector and an outlook for increased production.Benchmark copper on the London Metal Exchange was down 1.38 percent at $6,996.50 a tonne at 1451 GMT, having touched a session low of $6,962 a tonne, its weakest since July 2. Copper has dropped nearly 3 percent this week, the biggest ...
EU wheat farmers hold back on selling to ride out price lows PARIS: Farmers in western Europe are holding back on sales from this year's wheat harvest in the hope prices will rebound from two-year lows and defy forecasts for swelling global grain supply. Growers typically sell a significant portion of their crop in forward sales before the summer harvest, but sales are currently running at about half their usual pace, according to analysts and traders.Benchmark prices on the Euronext futures market slipped this week to their ...
Gold dips after 1.5 pct rally, set for first weekly fall in 7 LONDON: Gold dropped on Friday, set for its first week of decline in seven on fears of higher US rates and as investors took profits after a 1.5 percent jump on the downing of a passenger plane in eastern Ukraine. Gold, seen as a hedge against risk in times of geopolitical and financial uncertainty, posted its biggest daily gain in a month on Thursday after the loss of the Malaysian airliner, as Kiev and Moscow ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln