Group items tagged

As a result of weak customer demand in the aerospace and electronics/data communications markets in Q1 2009 caused by the global economic downturn, International Wire Group, Inc., a US manufacturer and marketer of wire products, announced that it is idling production at two plants in Jewett City, Connecticut and Littleton, New Hampshire. International Wire Group, Inc. manufactures wire products for other wire suppliers, distributors and OEMs manufacturers. It has 19 facilities across the US, Belgium, France and Italy.

#1: Would-be buyers will have far more choices in 2012. #2: Prices will remain high for electric vehicles #3: Real estate companies and parking lot operators will continue to install electric vehicle chargers as a service. #4: More businesses will install chargers. #5: Wireless charging technologies will get wider testing. #6: Models will emerge for vehicle-to-grid electricity distribution. In scenarios where a house loses power, electric vehicles could play a role as back-up generators. #7: Safety issues will get closer scrutiny. Others: #1: The majority of people who drive a plug-in vehicle won't own it. #2: "Automakers will get pushback from EV owners regarding the length of time it takes to fully charge a vehicle." #3: Many EV charging stations will spend the majority of their time idle. #4: 'Range anxiety' #5: "The best-selling EVs won't have four wheels

In China, scrap merchants lost so much money in the second half of last year that many are idle; scrap is, therefore, tight in China. Some smelters have also been forced to cut production, led by Jiangxi Copper, who have had a blow-out in their oxygen plant, so we hear, which will take 6-7 months for reparations to be completed. Until 2009, importers had difficulties in opening Letters of Credit; now banks are enabling LCs to be given and opened.

ontract workers at Chile's state copper company agreed to end a 20-day strike Monday that had idled production at three of its five mines, causing more than US$100 million (euro65 million) in losses.

TEPCO, a Japanese power supplier announced that it will increase its electricity prices for corporate clients by an average of 17% to cover higher energy costs for the use of thermal power plants while the firm idles many of its nuclear power facilities. The Japan Copper and Brass Association diapproves of the move, which it says would add ¥1.2 - 1.3B/y in production costs at the affected brass mills. The 23 copper product fabrication sites within the TEPCO supply area account for 43% of total copper semis output in Japan.

Luvata said that it will restart idled capacity in Europe and the US in 2010. The decision is based on the slow but steady recovery that the company is experiencing on a monthly basis. It was reported that the Chinese plants that make air con tubes and cooling pipes resumed production in the second half of June after a month-long cut. Luvata expects that its growth will be a function of GDP and gains in its market share.

It is believed that a cash crunch is reducing orders in the Chinese power sector, which accounts for 60% of the country's copper demand. Analysts predicted strong copper demand in H1 as the country was eager to repair the damages to power networks caused by the heavy snow in the early part of the year. However, repairs have so far mainly been made to aluminium and fibre-optic cables. Cash flow problems at copper rod and wire plants have occurred following the government's tight credit policy and high copper prices. Some 30% of copper wirerod production capacity is being reported idle. The cash shortages have also delayed copper buying from active copper fabricators, further dampening consumption of the metal. China, a net importer of copper, exported 31,000 tonnes of refined copper in April, up 227% year-on-year, with the possibility that the country might have been re-exporting the metal since late February. China's General Administration of Customs reported that 14,000 tonnes were exported to South Korea, six times that from the same period last year. This perhaps confirms that traders were re-exporting copper it has imported to LME-approved warehouses to take advantage of the discount between Shanghai and LME copper prices.

Neans focuses on "priority markets"

In the past few days world leading cablemaker Nexans has announced one acquisition, one new joint venture and one asset disposal. On the 30th May, Nexans acquired Intercond a leading Italian manufacturer of special cables for industrial equipment and subsea applications. The company had sales of €90m and employs 150. "This [€90m] acquisition fits totally in the Group's strategy by increasing the proportion of its business in high value-added special cables", said Gerard Hauser, Chairman and CEO of Nexans. On the 2nd June, Nexans released a press report confirming that it has formed a joint venture to create a wire and cable plant in Qatar, the country's first manufacturing facility. Qatar International Cable Company (QICC) is owned 29% by Nexans with the balance being owned by Special Projects Company and Al Neama Industrial Co. The new plant in the industrial city of Mesaleed, 40km from Doha, and will employ 210 people. By the end of 2009 it will begin manufacturing low and medium voltage cables for buildings and energy infrastructure as well as special cables for the oil and gas industry. This JV will generate sales of $150m per year by 2010 at current copper prices. Finally, Nexans confirmed that it has completed the pre-announced sale of its copper telecom cable plant at Santander in Spain to the British company B3 Cable Solutions for €17m. These three actions continue to refocus the group's strategy on priority market segments.