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LME copper faces first monthly drop in four on plentiful supply MELBOURNE: London copper was facing its first monthly drop since January on Friday, pressured by ample inventories of refined metal, but prospects that Chinese stimulus measures would revive demand kept a floor under prices."We've seen positive trends in the imports for copper, and it certainly feels like monetary easing is helping trade financing activities, which should be supportive of copper imports in the shorter term," said analyst Daniel Hynes of ANZ in Sydney said."It's going to remain in a relatively tight range but I think we still haven't seen the high in this range just yet. The general pick up in sentiment is going to prolong this further than the underlying data would suggest."Three-month copper on the London Metal Exchange had edged up 0.3 percent to $6,111 a tonne by 1245 GMT, after closing a touch firmer in the previous session. Prices were facing their first monthly loss in four, ...

Raw sugar recovers from lows, arabica coffee steadies LONDON: Raw sugar futures recovered from their lowest in more than six years on Thursday, but gains were capped by large supplies, while arabica coffee and New York cocoa were little changed.Dealers said they expected fluctuations in the Brazilian real and U.S. dollar to drive sugar prices in the short term."The market is following macroeconomic and currency trends," a senior analyst said. "The 12 cents area seems to be holding some significance," he added, referring ...
Gold flat as steadier dollar offsets lower European shares LONDON: Gold was little changed on Thursday as the impact of a steadier dollar was counteracted by lower European equities alongside fading optimism over a potential deal between Greece and its creditors.Spot gold was flat on the day at $1,187.46 an ounce by 1140 GMT, within reach of a two-week low of $1,183.76 hit in the previous session. U.S. gold futures for June delivery rose $1.30 to $1,186.80 an ounce."There is some support from the ...
Copper, aluminium recover from losses on softer dollar LONDON: Copper and aluminium recovered from recent losses on Thursday as the dollar weakened and optimism grew over a Greek debt deal, but some analysts were cautious that gains could be sustained due to plentiful supplies.Most other base metals also rebounded from a recent downturn that had been partly due to a stronger dollar, which makes commodities priced in the US currency more expensive to buyers using other currencies.The euro has gained against the dollar ...
London copper edges off 1-month lows as dollar drops MELBOURNE: London copper edged up on Thursday from a one-month low hit the session before as the dollar eased on vague hopes of a Greek debt deal, but prices were curbed as seasonal demand passes its peak and by plentiful supply.Demand for metals is typically strongest in the second quarter, after the Lunar New Year and ahead of the northern hemisphere summer slowdown, suggesting appetite - and prices - could wane going into the rest ...
Copper hits month low on China, supply rise hits aluminium LONDON: Copper hit a one-month low on Wednesday due to concerns about the economic outlook for big metals consumer China, while aluminium fell to its lowest in a year on rising production. Aluminium is in oversupply with a huge stock overhang, and output has continued to rise this year, with the latest industry figures showing daily average production rising to 68,500 tonnes in April. Norwegian producer Norsk Hydro said it would increase aluminium output by ...
Raw sugar at 6-year low on Brazil's weak real, large stocks LONDON: Raw sugar futures slumped to a 6-year low on Wednesday with the weakness of the local currency in top grower Brazil adding to the bearish mood of a market already struggling to cope with huge and still rising stocks.Brazil's real currency fell against a strengthening dollar on Wednesday making commodities such as sugar attractive for the country's producers to sell."The (Brazilian) real is putting a hole in sugar and the technical outlook also looks ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln