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Wanma Cable recently announced that for the last year its operating income was RMB2.6 billion ($0.4 billion) increasing by 21.32% year-on-year, and net profit attributable to shareholders of listed companies was RMB103.6 million ($16.4 million) increasing 6.39% year-on-year. In product layout, the company consolidated its MV/LV and EHV market positions while establishing a special cable business division to intensify efforts to develop a special cable business. The company has secured a good start in new fields, such as rail transit, power generation, petroleum and petrochemical, wind power and coal mining. Wanma Cable's CEO recently said that the income target of company in this year was RMB3.1 billion ($0.5 billion) increasing by 20% year-on-year, based on the copper price keeping last year's price level. The company completed an investment plan in EHV and MV/LV cable through an IPO raising funds."

Official data from the Ministry of Industry and Information Technology revealed that major electronic information manufacturing company profits declined by 14% y-o-y, reaching RMB122B in H1 2012. The decline in profits was attributed to weakening orders caused by the European debt crisis and slowing world economy. The number of electronic manufacturers reporting a loss over H1 2012 rose by 20.2% y-o-y, to reach 4,250, which is thought to be as a result of high financing costs.

Imports of copper tube to Japan fell by 36% m-o-m in September to reach 1,271t according to Japan's Ministry of Finance. September's import total was up by 44% y-o-y but still represents the lowest level seen since February 2011. The situation is attributed to recent copper tube supply being very tight due to record air conditioner sales between February 2010 and September 2011 that peaked in August 2011. Since then, there has been a significant easing in copper tube availability as air conditioner manufacturers have opted to drawdown stocks, effectively reducing tube demand. The market is expected to tighten again in 2012 if Hitachi Cable executes its plans to exit from domestic copper tube production.

The Ministry of Finance announced that a subsidy package worth RMB14.0B (US$2.22B) will be introduced to encourage sales of energy-saving desktop computers and air conditioners. The subsidy program will last one year and it is hoped that it will result in the market share of energy-saving products rising to 40% of the total.

According to the Japan Copper and Brass Association, Japanese output of rolled copper products rose by 21% y-o-y to 75,094 tonnes in July 2010. The figure represents a 21-month high, supported by strong exports to China and other Asian countries. It was also a 3% increase from the previous month. It was reported that Japanese output exhibits steady recovery; however, a stronger yen and the end of government subsidies for eco-friendly cars at the end of September will challenge the demand outlook in the second half of the year. In addition, the Ministry of Finance said that Japan's refined copper exports rose by 5% y-o-y to 44,875 tonnes in July, the first y-o-y increase in nine months. China accounted for 45% of total exports in July, compared with 41% in June.

The Kuwait Fund for Arab Economic Development (KFAED) will provide a loan to Bahrain's National Electricity and Water Authority to finance a 220 kV transmission development project. Funds will amount to KWD15M (US$52.8M) whilst the project aims to reinforce Bahrain's power grid. The project envisages the construction of ten 220 kV substations, and laying 515 km of 220 kV underground power cable. The project is expected to be completed by the end of 2012; it is anticipated that total investment will reach US$657.8M.

Copper miner Tamaya Resources has suspended trading of its shares on the Australian stock exchange and begun discussions with creditors, a month after delivering a A$141.2 million ($168.4 million) half-year loss.