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Copper price to struggle even as mine outages slash market surplus LONDON: Faltering demand in leading global copper consumer China will see prices of the metal struggle to gain traction this year, despite disruptions at mines that will slash the expected market surplus by half, a Reuters poll showed. Aluminium prices will also face headwinds as the market braces for more oversupply, having previously been expected to flip into deficit for the first time in nine years, the poll showed. Analysts trimmed forecasts of expected shortages in other base metals such as nickel and lead, and largely downgraded price projections. The poll of 31 market participants surveyed over the past three weeks gave a median forecast that cash copper prices would average $6,125 a tonne this year, down 4 percent from the prior poll in January and slightly above current prices. In 2016, prices are expected to rise to $6,567.5. The poll showed analysts expect the copper market to have a ...

Gold slips for second session on higher bond yields LONDON: Gold extended losses into a second day on Thursday, falling almost one percent as higher bond yields dented its investment appeal, while uncertainty over the timing of a US rate hike also weighed.Spot gold fell 0.7 percent to $1,183.18 an ounce by 0957 GMT, holding below the key $1,200 level for a fifth day. US gold futures for June delivery dropped $8.80 to$1,181.40 an ounce. "The fact that we've got this back-up in long-term ...
EU wheat bounces off 7-month low, follows US prices up HAMBURG: European wheat futures rose on Wednesday, bouncing from a seven-month low hit on Tuesday, with support coming from rising US prices.December milling wheat, the new-crop benchmark and the most active contract on the Paris-based Euronext exchange, unofficially closed up 2.50 euros or 1.4 percent at 174.50 euros a tonne.On Tuesday the contract fell to 171.00 euros, a low since Sept. 26, 2014.US futures climbed more than 2 percent on Wednesday, lifted by reports of ...
Copper slides from peak as Chinese buying easesvvvvv LONDON: Copper and most other industrial metals retreated on Wednesday from recent peaks as copper demand in China faltered and as some investors regarded the sector's strong gains as outpacing supply and demand fundamentals.The index of six base metals traded on the London Metal Exchange had rallied 13 percent from lows in mid-March until Tuesday, when zinc hit its highest price in eight months and copper its strongest since mid-December."I do think in general they've ...
Cocoa buoyed by Ghana supply concerns; sugar firms LONDON: London cocoa futures steadied on Wednesday after equalling the previous session's eight-week peak, driven by a downward revision in a Ghanaian crop estimate.Raw sugar futures firmed as perceptions about a record May delivery turned bullish, while arabica coffee dipped in light, choppy, technically driven dealings.Cocoa rallied on Tuesday after senior government sources in Ghana, the world's second-biggest cocoa grower, said the country's 2014/15 output would be no more than 700,000 tonnes, down from the ...
London copper slips from 5-1/2-month highs, weaker dollar supports MELBOURNE: London copper slipped on Wednesday from 5-1/2-month highs hit the session before after weak US data revived concern about global economic growth, although expectations of policy support in China and the United States cushioned losses.A widening US trade deficit may help breathe new life into commodities prices because it will temper any drive by the Federal Reserve to raise interest rates soon, keeping pressure on the dollar, said Jonathan Barratt, Chief Investment Officer at ...
Zinc hits eight-month high, copper and nickel surge LONDON: Zinc hit its highest price in eight months on Tuesday and copper its loftiest since mid-December thanks to a combination of concern about supply shortfalls and optimism over the global economy.All the metals on the London Metal Exchange (LME) attracted buying, which also pushed nickel to a six-week high, as the market reopened following a British public holiday on Monday."Commodities are bouncing back up, led by oil and iron ore. Base metals seem to ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln