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Caroline Millar

Italy - Prysmian improves organic sales decline in Q3 - 0 views

  • Caroline Millar
     
    Italy's Prysmian, leading energy and telecom cables and systems manufacturer, reported the first signs of market stabilisation in its third quarter 2009 results, with organic sales decline improved to -16% in Q3 (from -18.3% in H1) and adjusted ebitda margins stable at 10.7% (10.5% in H1). 9-month sales revenues were €2.78bn (compared to €3.95bn a year ago); EMEA region's organic sales (70.2% of total) were down 16% while N.America (9.7% of total) was down 43%. The strategic high voltage power transmission cables sector saw Q2's orders intake recovery confirmed in Q3, with order backlogs through 2010. The company is co-operating with anti-trust investigations into this sector in Australia, New Zealand, Europe, US and Japan.
Panos Kotseras

Mexico - Luvata officially opened its new copper tube plant - 0 views

  • Panos Kotseras
     
    Luvata officially opened its first copper tube plant in Mexico, aiming to fabricate tubes for the HVACR industry. The company sees the current downturn in the commercial tube market as a convenient time to establish its position in the marketplace and be ready when the market picks up. The Monterrey-based plant has started with small but steady deliveries since mid-June. Currently, the plant employs 180 staff with the plan to raise workforce to 250 when the full capacity level of 2,500t per month is reached in H1 2010. Luvata aims to supply several major clients but also expand its clientele to new and smaller Mexican customers. The company intends to differentiate itself by offering just-in-time deliveries, enabling its clients to run reduced inventory levels.
Colin Bennett

Carbon-free copper smelting technology - 0 views

  • Colin Bennett
     
    "Recently, carbon-free copper smelting technology, a technology with full independent intellectual property rights, has passed expert examination organized by China Nonferrous Metals Industry Association (CNIA) in Dongying, Shandong province. It is the first time zero-carbon emissions in the copper melting process has been realized and also opens a new gate for low-carbon development of China's nonferrous metals industry."
Caroline Millar

China - CNIA: copper semis output growth in October, will continue in Q4 2009 - 0 views

  • Caroline Millar
     
    The China Nonferrous Metals Association (CNIA) reports that in October the operating rate of Chinese copper wire and rod enterprises was 78.3%, up 2.8% y/y, and that of copper tube enterprises (previously down 59.2% y/y in September ) was 73.3%, up 22.8% y/y and 14.1% m/m. Copper semis output Jan-Sep was 6.27mt, up 18% y/y. The fourth quarter is the traditional peak production season, driven by the growth of end use industries such as home appliances and automobiles etc, and CNIA expects to see continued growth in consumption.
Colin Bennett

Southern Copper CEO Sees Return to $4 Copper on U.S. Demand - 0 views

  • Nov. 4 (Bloomberg) -- Copper prices may rebound to $4 a
    pound next year because of recovering economic growth in the
    U.S. and Europe and a lack of new supply, Southern Copper Corp.
    Chief Executive Officer Oscar Gonzalez Rocha said.
Colin Bennett

Pedal to the metal: Structural reforms to boost Mexico - 0 views

  • Pedal to the metal: Structural reforms to boost long-term growth in Mexico and spur recovery from the crisis
Caroline Millar

Mexico - Copper output in August down 14% y/y - 0 views

  • Caroline Millar
     
    Mexican copper output fell to 18,465 tonnes in August, down 14.4% from the same month a year earlier, according to data from the National Statistics Institute on 30 October. The country's copper output has been hit by a more than two-year long strike at its largest mine, the Cananea mine owned by Grupo Mexico.
Caroline Millar

Japan - Sumitomo Electric to improve profitability for FY2010 - 0 views

  • Caroline Millar
     
    Sumitomo Electric Industries' on 30 October reported sales in H1 (ended Sep) of fiscal 2009 were down 35% y/y at ¥812.3bn, and posted ¥9.7bn net loss (against ¥39.7bn profit a year ago) and ¥7.0bn operating loss (against ¥49.2bn profit). However the automobile business unit - main output automotive wiring harness - in Q2 posted ¥5.5bn operating profit against Q1's ¥8.6bn loss and forecasts ¥20.1bn operating profit in H2 (ended Mar'10). President Masayoshi Matsumoto said the firm expects improved profitability in fiscal 2010 though automobile demand could slow in April-June when automakers plan to reduce output by 20-30% from Jan-March.
Caroline Millar

Chile - September copper output rises 8.5% y/y - 0 views

  • Caroline Millar
     
    Chile, the world's biggest copper producing country, saw September copper output rise 8.5% y/y to 464,560 tonnes (up from 428,280 tonnes in September 2008), according to government data released 29 October. This follows a 7.8% y/y rise in August but the country's 9-month copper production is down 1.1% y/y at 3.94 million tonnes.
Colin Bennett

Shakeel Ahmed is new Hindustan Copper chief - 0 views

  • Kolkata, Oct 28 : Public sector undertaking Hindustan Copper Wednesday said Railway Board advisor Shakeel Ahmed will be its next chairman and managing director.
Colin Bennett

Kores, LS-Nikko To Buy 20% Stake In Panama Copper Mine - 0 views

  • SEOUL -(Dow Jones)- State-run Korea Resources Corp., or Kores, said Thursday
    it and LS-Nikko Copper Inc. have signed a contract to jointly buy a 20% stake in
    the Petaquilla copper mine in Panama.
Glycon Garcia

IEA members 'not on track' on energy efficiency - 0 views

  • IEA members ‘not on track’ on energy efficiency



    Environmental Finance, 22 October
    2009 - “More action is needed” by International Energy Agency (IEA) member
    countries on energy efficiency, according to a new report from the agency.


    “IEA member countries are implementing a full range of energy efficiency
    activities,” the report finds. “However, more action is needed … IEA member
    countries need to urgently extend their efforts in energy efficiency policy,”
    especially in transportation.

Panos Kotseras

Mexico - New copper commercial tube plant by Golden Dragon - 1 views

  • Panos Kotseras
     
    Golden Dragon, based in China's Hunan province, opened a new copper tube plant in the city of Monclova, northern Mexico. The investment of the project amounted to US$100 million and represents the biggest Chinese investment ever made in Mexico. The plant covers 200,000m2 and will employ 900 staff. Currently, annual output capacity is 60,000t of copper tube for air conditioners but the plan is to raise that to 120,000t. The new project will benefit from low industrial costs and a competitive exchange rate; it aims to supply the North American and European markets.
Panos Kotseras

USA - General Cable announced sales figures for Q3 - 0 views

  • Panos Kotseras
     
    General Cable, the US wire and cable maker, announced that its net income in Q3 2009 amounted to US$16.4 million compared with US$50.5 million in the same period last year. This is a 68% y-o-y plunge. Net sales in Q3 2009 added up to US$1.08 billion, down by 25% y-o-y on a metal adjusted basis. In the same period, operating income plummeted by 59% y-o-y to US$49.4 million. The company expects that in Q4 markets in developing regions will perform relatively better compared with developed regions. This is partly attributed to infrastructure projects and better credit conditions.
Panos Kotseras

Japan - Copper semis output fell by 17% y-o-y in September - 0 views

  • Panos Kotseras
     
    The Japan Copper and Brass Association said that copper semis output in Japan fell by 17% y-o-y to 66,145t in September. But from a m-o-m perspective, September rose by 5%, the sixth consecutive monthly improvement. It was reported that even though it was the 14th y-o-y decline, the decrease narrowed supported by the pick up in demand from the semiconductor, automobile and electronics industries. It is expected that demand in FY2009 will amount to 713,930t; that will be the lowest level since FY1975 and will represent an 11% contraction compared with FY2008.
Panos Kotseras

Japan - Copper wire & cable shipments fell by 17% y-o-y in September - 0 views

  • Panos Kotseras
     
    According to data released by the Japanese Electric Wire and Cable Makers' Association, Japanese copper wire and cable offtake in September contracted by 17% y-o-y, the 12th sequential monthly decrease. Shipments in September amounted to an estimated 57,800t, a 14% m-o-m increase. The copper wire and cable sales forecast for FY2009 has been revised down to 648,000t compared to an earlier projection of 705,000t.
Panos Kotseras

France - Nexans announces Q3 2009 sales figures - 0 views

  • Panos Kotseras
     
    Nexans published its Q3 2009 sales figures and reported revenues of €1.27 billion (US$1.90 billion) compared to €1.69 billion (US$2.53 billion) in Q3 2008, a decline of 25%. At constant metal prices, sales in Q3 2009 amounted to €988 million (US$1.48 billion), which corresponds to a 19% organic decrease. For the nine months ending September 30 the company reported an organic fall in cable business sales of 17%, based on constant metal prices calculations. This compares with a 16% contraction experienced in H1 2009. Nexans said that lower building cable sales in Europe and Asia-Pacific as well as setbacks in the execution of high voltage contracts affected its sales figures. Energy cable revenues in Q3 were down by 13% y-o-y; those of telecom cables plunged by 19% y-o-y. In line with planned cutbacks in production capacity, electrical wire sales in Q3 were down by 35% y-o-y.
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