Contents contributed and discussions participated by Caroline Millar - Trends, copper

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

www.prysmian.com/...news.html

italy prysmian sales results

shared by Caroline Millar on 06 Nov 09 - Snapshot

Caroline Millar on 06 Nov 09

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.

<div class="cArrow"> </div><div class="cContentInner">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.</div>

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

www.antaike.com/...shownews.asp

china CNIA copper semis output

shared by Caroline Millar on 04 Nov 09 - Snapshot

Caroline Millar on 04 Nov 09

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.

<div class="cArrow"> </div><div class="cContentInner">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.</div>

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

communities.thomsonreuters.com/...469761

mexico copper output august

shared by Caroline Millar on 03 Nov 09 - Snapshot

Caroline Millar on 03 Nov 09

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.

<div class="cArrow"> </div><div class="cContentInner">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.</div>

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

global-sei.com/...fb2009_2.pdf

japan SEI sumitomo electric sales profits

shared by Caroline Millar on 02 Nov 09 - No snapshot

Caroline Millar on 02 Nov 09

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.

<div class="cArrow"> </div><div class="cContentInner">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.</div>

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

communities.thomsonreuters.com/...468989

chile copper output september

shared by Caroline Millar on 30 Oct 09 - Snapshot

Caroline Millar on 30 Oct 09

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.

<div class="cArrow"> </div><div class="cContentInner">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.</div>

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USA - Prysmian opens N.America's first EHV power cable plant - 0 views

www.prysmian.com/...news.html

USA Prysmian EHV power cable plant

shared by Caroline Millar on 22 Oct 09 - Snapshot

Caroline Millar on 22 Oct 09

Prysmian opens its new extra high voltage (EHV) power cable plant in Abbeville (South Carolina) on 22 October, the first one of its kind in North America which until now has had to import this technology. The Italian-based group has invested €32m (US$48m) in the new facility to get competitive advantage in a market due to benefit from major government investment to modernize power transmission networks and exploit renewable energy.

<div class="cArrow"> </div><div class="cContentInner">Prysmian opens its new extra high voltage (EHV) power cable plant in Abbeville (South Carolina) on 22 October, the first one of its kind in North America which until now has had to import this technology. The Italian-based group has invested €32m (US$48m) in the new facility to get competitive advantage in a market due to benefit from major government investment to modernize power transmission networks and exploit renewable energy.</div>

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USA - ICSG report global copper market deficit of 186kt in Jan/July - 0 views

www.icsg.org/...presrels_2009_10.pdf

USA ICSG global refined copper market july

shared by Caroline Millar on 21 Oct 09 - No snapshot

Caroline Millar on 21 Oct 09

According to preliminary data issued 20 October by the International Copper Study Group (ICSG), in the period January-July this year there was an apparent global production deficit of 186,000 tonnes refined copper (seasonally adjusted to 62,000t surplus). This compares to a production deficit of 207,000t (seasonally adjusted to 37,000t surplus) in the same period in 2008. In July, the market showed a nominal surplus of 2,000t following 5 months of continued apparent deficit.

<div class="cArrow"> </div><div class="cContentInner">According to preliminary data issued 20 October by the International Copper Study Group (ICSG), in the period January-July this year there was an apparent global production deficit of 186,000 tonnes refined copper (seasonally adjusted to 62,000t surplus). This compares to a production deficit of 207,000t (seasonally adjusted to 37,000t surplus) in the same period in 2008. In July, the market showed a nominal surplus of 2,000t following 5 months of continued apparent deficit.</div>

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Bulgaria / China - Aurubis and Minmetals sign US$800m copper cathode deal - 0 views

communities.thomsonreuters.com/...456236

china bulgaria aurubis minmetals copper cathode supply

shared by Caroline Millar on 20 Oct 09 - No snapshot

Caroline Millar on 20 Oct 09

Aurubis in Bulgaria (the Cumerio Med smelter) signed a contract on 15 October to supply China's Minmetals with up to 24,000tpy of copper cathode over the next six years, in a deal that could be worth US$800m. This equates to about 2% of the annual copper cathode production of the Aurubis group, which sold a record US$95m of copper products to Minmetals in the first half of 2009.

<div class="cArrow"> </div><div class="cContentInner">Aurubis in Bulgaria (the Cumerio Med smelter) signed a contract on 15 October to supply China's Minmetals with up to 24,000tpy of copper cathode over the next six years, in a deal that could be worth US$800m. This equates to about 2% of the annual copper cathode production of the Aurubis group, which sold a record US$95m of copper products to Minmetals in the first half of 2009.</div>

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USA - Brass mill imports, exports decline in August - 0 views

communities.thomsonreuters.com/...454438

USA august brass mill imports exports

shared by Caroline Millar on 19 Oct 09 - No snapshot

Caroline Millar on 19 Oct 09

U.S. imports and exports of all brass mill products fell in August, according to data from the Copper and Brass Fabricators Council: imports fell 39.5% y/y to 33,722,170lbs (from 55,739,462lbs), exports fell 23.2% y/y to 16,794,773lbs (from 21,872,727lbs). Top export destination was Mexico (6,172,820lbs) while China topped imports (9,321,119 lbs). Imports/exports breakdown was: sheet, strip, plate and foil products 7,518,345lbs/ 5,916,108lbs; pipe and tube products 18,186,279lbs/5,446,636lbs; profiles, rods and bars 6,130,905lbs/3,538,226lbs; copper alloy wire 1,886,642lbs/1,893,802lbs.

<div class="cArrow"> </div><div class="cContentInner">U.S. imports and exports of all brass mill products fell in August, according to data from the Copper and Brass Fabricators Council: imports fell 39.5% y/y to 33,722,170lbs (from 55,739,462lbs), exports fell 23.2% y/y to 16,794,773lbs (from 21,872,727lbs). Top export destination was Mexico (6,172,820lbs) while China topped imports (9,321,119 lbs). Imports/exports breakdown was: sheet, strip, plate and foil products 7,518,345lbs/ 5,916,108lbs; pipe and tube products 18,186,279lbs/5,446,636lbs; profiles, rods and bars 6,130,905lbs/3,538,226lbs; copper alloy wire 1,886,642lbs/1,893,802lbs.</div>

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India - Vedanta to create one of world's largest capacity (800kt/y) copper smelters at Tuti... - 0 views

communities.thomsonreuters.com/...453809

india vedanta sterlite copper smelter capacity tuticorin

shared by Caroline Millar on 16 Oct 09 - Snapshot

Caroline Millar on 16 Oct 09

Mining group Vedanta has approved a US$500m investment to double its copper smelting capacity in India, and create one of the largest single location custom copper smelters in the world at Tuticorin. The Tuticorin smelter (run by Vedanta's Sterlite Industries affiliate) will double its capacity to 800,000 tonnes a year in a project due to be commissioned in mid-2011. The project will include a 160-megawatt captive power facility.

<div class="cArrow"> </div><div class="cContentInner">Mining group Vedanta has approved a US$500m investment to double its copper smelting capacity in India, and create one of the largest single location custom copper smelters in the world at Tuticorin. The Tuticorin smelter (run by Vedanta's Sterlite Industries affiliate) will double its capacity to 800,000 tonnes a year in a project due to be commissioned in mid-2011. The project will include a 160-megawatt captive power facility.</div>

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China - Copper imports gain in September for first month in three - 0 views

www.bloomberg.com/...news

china imports september copper semis scrap

shared by Caroline Millar on 15 Oct 09 - Snapshot

Caroline Millar on 15 Oct 09

According to the Beijing-based customs office data released on 14 October, Chinese imports of refined copper and copper semis increased to 399,052t in September, a 23% m-o-m rise. The figure exceeded expectations (the market had widely expected another m-o-m decline), and so provides some optimism about demand recovery, especially in a period when price differences do not favour imports. China's scrap copper imports were 410,000t in September (up from 392,121t last month).

<div class="cArrow"> </div><div class="cContentInner">According to the Beijing-based customs office data released on 14 October, Chinese imports of refined copper and copper semis increased to 399,052t in September, a 23% m-o-m rise. The figure exceeded expectations (the market had widely expected another m-o-m decline), and so provides some optimism about demand recovery, especially in a period when price differences do not favour imports. China's scrap copper imports were 410,000t in September (up from 392,121t last month).</div>

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USA - Superconductor wire cable system to connect US's 3 power grids - 0 views

www.amsc.com/amigasannouncement.html

USA tres amigas american superconductor wire cable

shared by Caroline Millar on 14 Oct 09 - Snapshot

Caroline Millar on 14 Oct 09

The Tres Amigas Project has decided to use a superconductor wire and cable system supplied by American Superconductor Corp., with multiple AC/DC converters connected by DC superconductor cables, to provide the first interconnection of all 3 of America's power grids. The new power hub will enable the transfer of power from multiple renewable energy sources across a wide area of North America.

<div class="cArrow"> </div><div class="cContentInner">The Tres Amigas Project has decided to use a superconductor wire and cable system supplied by American Superconductor Corp., with multiple AC/DC converters connected by DC superconductor cables, to provide the first interconnection of all 3 of America's power grids. The new power hub will enable the transfer of power from multiple renewable energy sources across a wide area of North America.</div>

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China - Lihua International announces production capacity expansion - 0 views

www.reuters.com/...S75826+12-Oct-2009+PRN20091012

china lihua copper production wire CCA

shared by Caroline Millar on 13 Oct 09 - Snapshot

Caroline Millar on 13 Oct 09

Lihua International Inc., leading Chinese producer of low cost, high quality alternatives to pure copper superfine and magnet wire, announced on 12 October it has begun production on four new proprietary high speed manufacturing lines. They increase its copper wire capacity to 1,500 tonnes per month (from 1,000tpm) and CCA wire capacity to 600tpm (from 500tpm). The company's copper recycling facility operates two horizontal smelters for a current production capacity of 25,000 tonnes per annum.

<div class="cArrow"> </div><div class="cContentInner">Lihua International Inc., leading Chinese producer of low cost, high quality alternatives to pure copper superfine and magnet wire, announced on 12 October it has begun production on four new proprietary high speed manufacturing lines. They increase its copper wire capacity to 1,500 tonnes per month (from 1,000tpm) and CCA wire capacity to 600tpm (from 500tpm). The company's copper recycling facility operates two horizontal smelters for a current production capacity of 25,000 tonnes per annum.</div>

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China - 8 copper & aluminium semis deep processing projects launch in Foshan City - 0 views

www.antaike.com/...shownews.asp

china shijiao foshan copper aluminium aluminum semis deep processing scrap

shared by Caroline Millar on 12 Oct 09 - Snapshot

Caroline Millar on 12 Oct 09

8 copper & aluminium deep processing projects were launched in Shijiao County, Foshan City in Guangdong Province, at the end of September, providing 2,000 jobs with a total investment of 1.3bn yuan (US$190m). The area has been developing its nonferrous metals scrap dismantling sector for over 20 years. The Qingyuan Nonferrous Metal Processing Base, which is located in Shijiao County, has become an important manufacturing base attracting investors from across China.

<div class="cArrow"> </div><div class="cContentInner">8 copper & aluminium deep processing projects were launched in Shijiao County, Foshan City in Guangdong Province, at the end of September, providing 2,000 jobs with a total investment of 1.3bn yuan (US$190m). The area has been developing its nonferrous metals scrap dismantling sector for over 20 years. The Qingyuan Nonferrous Metal Processing Base, which is located in Shijiao County, has become an important manufacturing base attracting investors from across China.</div>

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New Zealand - IRL superconductor team switches focus to iron from copper - 0 views

marsden.rsnz.org/2009_PR.php

new zealand industrial research IRL copper iron superconductor

shared by Caroline Millar on 09 Oct 09 - Snapshot

Caroline Millar on 09 Oct 09

A team from New Zealand's state science company Industrial Research Ltd (IRL) which led the world in developing copper-based high-temperature superconductors (their ceramic yttrium barium copper oxide (YBCO) cable product is being commercialised by General Cable), are now focusing their research on the superconducting and magnetic properties of a particular type of iron compound (with a $750,000 grant over three years from the Marsden Fund). A successful iron-based superconductor could have added magnetic properties - and the IRL team says a new market for such superconductors could grow to $1bn in the next decade.

<div class="cArrow"> </div><div class="cContentInner">A team from New Zealand's state science company Industrial Research Ltd (IRL) which led the world in developing copper-based high-temperature superconductors (their ceramic yttrium barium copper oxide (YBCO) cable product is being commercialised by General Cable), are now focusing their research on the superconducting and magnetic properties of a particular type of iron compound (with a $750,000 grant over three years from the Marsden Fund). A successful iron-based superconductor could have added magnetic properties - and the IRL team says a new market for such superconductors could grow to $1bn in the next decade.</div>

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France - Nexans says copper price will decline this quarter on ample supply - 1 views

www.bloomberg.com/...news

france nexans wire cable copper price supply

shared by Caroline Millar on 08 Oct 09 - Snapshot

Caroline Millar on 08 Oct 09

Nexans, the world's largest wire and cable maker, expects copper to drop in the fourth quarter, because of ample supply; stockpiles in warehouses monitored by the LME have expanded 35% since July. Christian Velten-Jameson, Nexans' Corporate VP of finance, treasury and metals, said in an interview on October 5: "Prices are likely to fall this year and part of next year. It really depends on when growth will pick up." Last month Nexans said it may reduce production capacity of basic copper wires in France by more than half.

<div class="cArrow"> </div><div class="cContentInner">Nexans, the world's largest wire and cable maker, expects copper to drop in the fourth quarter, because of ample supply; stockpiles in warehouses monitored by the LME have expanded 35% since July. Christian Velten-Jameson, Nexans' Corporate VP of finance, treasury and metals, said in an interview on October 5: "Prices are likely to fall this year and part of next year. It really depends on when growth will pick up." Last month Nexans said it may reduce production capacity of basic copper wires in France by more than half.</div>

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Japan - Smelters plan cautious H2 copper output rise - 1 views

communities.thomsonreuters.com/...444862

japan smelters copper output pan pacific sumitomo mitsubishi dowa furukawa nittetsu

shared by Caroline Millar on 07 Oct 09 - Snapshot

Caroline Millar on 07 Oct 09

Japan's top six copper smelters are together planning a cautious increase of output in fiscal H2 (Oct09-Mar10), to a combined 764,058 tonnes which will be 3.3% up y/y and 2.6% up on H1. But several will stop short of restoring full production and Pan Pacific Copper (Japan's top copper smelter) will produce 1.6% less than a year ago, citing tight raw material supplies. Sumitomo Metal Mining's H2 output will be 0.9% down y/y, Mitsubishi Materials' 20% up (last H2's output was affected by repairs at its Naoshima smelter), Dowa Holdings' 13% up, Furukawa's 0.9%. up, and Nittetsu Mining's 0.9% down.

<div class="cArrow"> </div><div class="cContentInner">Japan's top six copper smelters are together planning a cautious increase of output in fiscal H2 (Oct09-Mar10), to a combined 764,058 tonnes which will be 3.3% up y/y and 2.6% up on H1. But several will stop short of restoring full production and Pan Pacific Copper (Japan's top copper smelter) will produce 1.6% less than a year ago, citing tight raw material supplies. Sumitomo Metal Mining's H2 output will be 0.9% down y/y, Mitsubishi Materials' 20% up (last H2's output was affected by repairs at its Naoshima smelter), Dowa Holdings' 13% up, Furukawa's 0.9%. up, and Nittetsu Mining's 0.9% down.</div>

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Switzerland - Swissmetal's 2009 copper use may be 20-30% down, stocks will stay down - 0 views

communities.thomsonreuters.com/...442088

switzerland swissmetal copper use stocks

shared by Caroline Millar on 06 Oct 09 - Snapshot

Caroline Millar on 06 Oct 09

Swissmetal says its copper use may be down 20-30% this year, from last year's 10,000-15,000 tonnes. The company, which manufactures copper products for industries such as electronics, telecommunications, aviation and automotives, sees signs of a pickup in demand in 2010 but inhouse stocks were reduced significantly and will now be kept at a permanently lower level even as the economy picks up. It currently holds about three months' worth of stock, with its total stocks standing at an estimated 8,000-9,000 tonnes and monthly production of about 2,500-3,000.

<div class="cArrow"> </div><div class="cContentInner">Swissmetal says its copper use may be down 20-30% this year, from last year's 10,000-15,000 tonnes. The company, which manufactures copper products for industries such as electronics, telecommunications, aviation and automotives, sees signs of a pickup in demand in 2010 but inhouse stocks were reduced significantly and will now be kept at a permanently lower level even as the economy picks up. It currently holds about three months' worth of stock, with its total stocks standing at an estimated 8,000-9,000 tonnes and monthly production of about 2,500-3,000.</div>

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USA - Copper's germ-killing skills could help reclaim HVAC mart from aluminium - 0 views

www.amm.com/...AMMMonthly.pdf

usa copper aluminum aluminium HVAC air conditioner

shared by Caroline Millar on 05 Oct 09 - No snapshot

Caroline Millar on 05 Oct 09

The U.S. Defense Dept. is currently funding research to test whether copper-a proven antimicrobial agent-can be used in the fabrication of HVAC systems to stop pathogenic bacteria before they find their way into the airstream. Principal investigator Gene Feigley, a professor of environmental health sciences at the University of South Carolina, says there are reasons to expect systems made with copper will outshine now-commonplace aluminium in the trials, which will also test longterm efficiency and ease of recycling.

<div class="cArrow"> </div><div class="cContentInner">The U.S. Defense Dept. is currently funding research to test whether copper-a proven antimicrobial agent-can be used in the fabrication of HVAC systems to stop pathogenic bacteria before they find their way into the airstream. Principal investigator Gene Feigley, a professor of environmental health sciences at the University of South Carolina, says there are reasons to expect systems made with copper will outshine now-commonplace aluminium in the trials, which will also test longterm efficiency and ease of recycling.</div>

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Japan - H2 copper output to rise at Mitsubishi Materials, Furukawa - 0 views

www.mmc.co.jp/...09-1001.html

japan copper output mitsubishi furukawa

shared by Caroline Millar on 02 Oct 09 - Snapshot

Caroline Millar on 02 Oct 09

Mitsubishi Materials Corp. said on 1 October it plans to produce 156,102 tonnes copper in fiscal H2 (Oct'09-Mar'10), which is 20% up on the year ago period (when output was affected by repairs at the Naoshima smelter). The company had said in August it would return to full production, the first major Japanese smelter to reverse cuts forced by the economic downturn. Today, Furukawa Co. Ltd. also announced that its copper output in fiscal H2 will rise, by 0.9% y-o-y to 43,385 tonnes.

<div class="cArrow"> </div><div class="cContentInner">Mitsubishi Materials Corp. said on 1 October it plans to produce 156,102 tonnes copper in fiscal H2 (Oct'09-Mar'10), which is 20% up on the year ago period (when output was affected by repairs at the Naoshima smelter). The company had said in August it would return to full production, the first major Japanese smelter to reverse cuts forced by the economic downturn. Today, Furukawa Co. Ltd. also announced that its copper output in fiscal H2 will rise, by 0.9% y-o-y to 43,385 tonnes.</div>

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