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Zhejiang Hailiang Co. Ltd., a Chinese copper processor, will construct a copper tube project in Vietnam. The investment will amount to US$47.2 million and will have production capacity if 71,000 tonnes per year, as a new 36,000-tonne facility will be added to the existing 35,000-tonne that has been relocated. It is anticipated that the project will be operational in 2010. The new project will benefit from the Vietnamese favourable investment policies as well as lower production costs.

Zhejiang Hailiang Co, a Chinese manufacturer of copper tube, announced on 4th February that it has received notification of the ending of a 16-month-old anti-dumping investigation into copper tubes imported from China. The case, which was being investigated by the Ministry of Development, Industry and Foreign Trade, was originally instigated and later cancelled at the request of the Brazilian Copper Association (ABC). Zhejiang Hailiang Co said after the announcement that the decision will allow it to further develop its business in Brazil.

Founded in 2005, LeDi is located in China near Shanghai in Zhejiang province, a hub of transportation, trading and communications. The company has three copper wire production lines with total annual capacity of approximately 36,000 tons. In April 2009, LeDi received a license to import scrap metal directly from foreign countries, making it one of the only copper processing companies in China that is licensed to import scrap copper directly from the USA, thereby decreasing raw materials costs and providing a meaningful competitive advantage.

NEW YORK--(BUSINESS WIRE)--Bay Acquisition Corp. (formerly known as SecureLogic Corp.) (OTCBB: SLGI) ("Bay Acquisition"), announced that it has entered into an agreement to acquire Zhejiang Ledi Electronic Technology Co., LTD. ("LeDi"), a copper processing enterprise located in China, which produces electrical copper wires in the wire and cable industries. The transaction is structured as an acquisition of LeDi's Samoan-based holding company.

It was reported that Zhejiang Hailiang Co. Ltd., a manufacturer of copper semi fabricated products, intends to acquire a 1.12% stake in the Chinese copper and nickel producer, Jinchuan Group. Hailiang expects to invest RMB800M (US$126M) into the producer company as it readies for its upcoming IPO in China. The move toward greater upstream copper processing exposure was attributed to risks associated with Hailiang's high dependence on copper products fabrication and Jinchuan's experience in managing overseas assets.

According to Antaike, Zhejiang Fuyang Kalaite Metal Products Co., a brass bar and lead brass producer, will develop a copper and zinc project in the Yugan Industrial Park at an investment cost of RMB100M (approximately US$15.7). The combined production capacity of the project is expected to reach 200,000t/y and the operation will employ around 100 staff.

"China-based copper tube producer Hailiang Co is in discussions to take over its larger rival, Henan-based Golden Dragon, a source at Hailiang confirmed to Metal Bulletin, in a move that would consolidate more production in the hands of one company. "

The Chinese copper fabricating company, Zhejiang Hailiang said it plans to go ahead with its copper fabrication project in Vietnam despite concerns over the economy there. No investment has yet been made by the company in Vietnam for the $7.2 million project, desgined to produce 71,000 tonnes per year of copper alloy pipe. The development of the plant, still awaiting approval from China's Ministry of Commerce, follows the relocation of the company's existing facility in Zhuji City. Last year Zhejiang Hailiang sold almost 128,000 tonnes of copper pipe and bar generating sales revenue of almost RMB 7 billion ($982 million).

Xingye Copper International Group Ltd. raised its copper plate and strip capacity to 80kt. Capacity expansion has been achieved by improving technology. The company is a major high precision copper plate and strip producer in China with two plants in Cixi City, Zhejiang Province and Yingtan City, Jiangxi Province. For FY2008, Xingye Copper reported operating income of 1.758 billion yuan, down by 16.1% y-o-y, and shipments of 44,387 tonnes compared to 51,889 tonnes in 2007.

It was reported that Zhejiang Power Grid Company decided to use aluminium cable instead of copper cable in new low voltage power grid projects. Using 6 km aluminium cable instead of copper in a 100 kV power grid project cut costs by at least 1.92M yuan. In addition, using 340 m aluminium cable in a 220 kV power grid project led to investment reduction of 108,000 yuan. Adopting aluminium cable in low voltage power projects can achieve a cost reduction of 40-70%.

"Zhejiang Hailiang Co, China's biggest copper tube producer, plans to invest 200 million yuan ($33 million) to build a copper tube plant in Guangdong province. "

Xinxing Zhunguan, a Zhejiang-based manufacturer of copper wirerod, plans to increase production at its facility to 165,000t in 2013, up by 10% from 150,000t in 2012. Despite low profitability at Chinese wirerod producers, an official at the company said Xinxing Zhunguan still plans to increase output in 2013 in order to enhance competitiveness. The company said it expects orders to be subdued in the run up to the Chinese Lunar New Year, but then expects a strong rebound after the holiday period. This is consistent with another report on 11th January from Reuters which cited several Chinese copper traders as expecting the period between now and the holiday to be quiet, followed by a strong rebound.

According to an official from Chinalco Kunming Copper Co., the Chinese wirerod manufacturer, the company produced 10,000t of copper wirerod in March, up from 7,000t in February. The official said that March's output of wirerod had risen because of a week-long shutdown in February for the Chinese New Year. However, output had still fallen short of the company's 13,000t target. Chinalco Kunming plans to produce 150,000t of wirerod in 2013, utilising around 68% of its 220,000t/y capacity. According to a report from Asian Metal, the company has recently settled its long-term charges for processing 8.0mm wirerod at RMB1,150/t (US$183/t).

Wirerod production at Hebei Dawufeng Copper has been temporarily suspended since early April in order to carry out maintenance. The company elected to halt production for a month in order to carry out equipment maintenance, owing to the currently sluggish wirerod market. Production at the plant, which has a wirerod production capacity of 100,000 t/y is scheduled to re-start in early May.

According to the General Research Institute of Mining & Metallurgy, it is a misconception to that 50-60% of copper is absorbed by China's power industry. The industry body posits that 30% of copper consumption is attributed to infrastructure projects, which include power, rail and telecommunications. 21% is absorbed by the construction, 20% for the production of consumer goods and 7% by industrial equipment manufacturers. The research institute forecasts copper consumption growth of 5% in the power industry this year and considers it to be the key driving force behind overall Chinese copper demand, which it expects to increase 4.1% in the same period.

Xingye Copper International Group plans to commission its 25,000t/y copper plate and strip project in Zhejiang province by 2014. The company already operates a copper and copper alloy plate and strip plant.

Zhejiang Honglei Copper, a Shenzhen listed Chinese copper tube and wire manufacturer, expects to commission a new 30,000t/y special enamelled wire production line on 31 December 2012. Total investment is anticipated to reach RMB175M.

A joint venture between Hong Kong Huakun International and Zhejiang Tangmen Metal Structure will invest RMB300M to fully commission a 100,000t/y copper plate and 50,000t/y copper foil production facility. The operation will be based in Fuzhou Jinchao Economic Development Zone and is anticipated to come on-stream 2 years after the September 2012 start-of-construction date.

Zhejiang Honglei Copper, a Shenzhen-listed Chinese copper tube and wire manufacturer, announced that its RMB163M, 150,000t/y copper-alloy rolled products project has entered a testing phase. The facility uses continuous casting and rolling process equipment from Germany.

The Chinese government announced that it will terminate its old-for-new home appliances subsidy scheme on 31st December 2011. The subsidy, which was introduced on 1st June, provides consumers in Beijing, Shanghai, Tianjin, Fuzhou, Changsha and the provinces of Jiangsu, Zhejiang, Shandong, and Guangdong with a 10% discount on a selected group of appliances. These include televisions, refrigerators, washing machines, air-conditioners and computers. All of these appliances are major end use segments for copper semis products.

It was reported that Brazil's trade protection authority launched an investigation into the dumping of Chinese copper tube, which is equal or less than 108mm, on the Brazilian market. Two of the firms involved in the practice include Shanghai Hailiang Copper and its subsidiary, Zhejiang Hailiang. Both firms are reported to have achieved a turnover of RMB310M in exports to Brazil during the first three quarters of 2011. The China Hailiang Group announced that it will continue to export copper tube to Brazil, but through a subsidiary in Vietnam in order to avoid further anti-dumping allegations.

Zhejiang Hailiang Co Ltd announced plans to build a high copper production line, with annual capacity of 71,000 tons, under the newly established Hailiang (Vietnam) Copper Co Ltd. The subsidiary will receive total investment of US$40m, which comprises US$32.69m cash capital and US$7.31m equipment capital. As well as transferring its domestic production line, which has an annual capacity of 35,000 tons, Hailiang will also upgrade the Vietnam facility, adding a further 36,000 tons to the new operation. The Hailiang (Vietnam) plant is expected to be operational within one year.

SWCC Showa Holdings Co., Ltd, the Japan-based cable and systems manufacturer, announced plans to construct a copper wirerod plant in China during fiscal year 2012. The new factory, which will have an annual capacity of 60,000t, will be located in Tianjin. Investment is expected to reach RMB1.0B - RMB1.5B. In China, high-quality copper wire is in demand because it is used in winding wire assembling, primarily for automobiles. The company said it also plans to invest RMB1.5B in adding equipment to its factory in Zhejiang to double annual capacity there to 60,000t.

To improve streamlining and strengthen businesses in China, SWCC Showa Holdings is to increase capital investment by US$83.5M - an increase of around 60%y-o-y, the company said. Broken down, this will be an increase of around 75-80% for domestic investment and around 20-25% for overseas investment. Domestically the company said it will focus on streamlining to strengthen profitability; improving the productivity of electric wires for construction and electric power fields and replacing production lines for fibre optic cables. The overseas investment will be to increase the capacity for growth markets such as copper wire rods and industrial electric wires, the company said.