Japan Consumption of Materials for Copper Decreases by 8.6% from the Last Month - 0 views
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Because electric copper production plan by copper smelters decreased by 4.6% from the previous year to 743,496 tons due to effect by furnace improvement in some smelter, consumption of copper alloy scrap used as coolant decreased.
Construction at $2.2bn copper smelter in Indonesia starts end of year - 0 views
Rusal developing new aluminium nanotech alloys - 1 views
Why Indian copper smelters will seek higher TC/RCs in 2016 - 1 views
Southern Copper strike temporarily delayed - 0 views
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A strike planned to start on Monday at Southern Copper's Peruvian mine Cuajone has been temporarily suspended pending mediation, officials from the company and union said. Southern, one of the world's largest copper producers, has been hit by strikes this year in Peru as workers demand a larger slice of the country's economic boom. Union leaders had planned to go on strike again because the company had threatened to fire about a dozen workers for participating in recent walkouts. But Roman More, head of the union at Cuajone, said the strike slated for Monday was called off as the company agreed to sit down with workers and the government for talks on Tuesday. Unions from the company's Ilo smelter and Toquepala mine were also expected to participate. "We are going to meet on Tuesday to see if we can reach an agreement about the firings. The meetings were requested by the government," More said. Alberto Giles, the company's human resources director, said the strike plans were scrapped. "In the case of Cuajone ... they suspended the strike plan," he said. "With regards to Ilo, the strike was supposed to start on Wednesday, but I don't think there will be a strike. I think the strike will also be canceled at Ilo." Cuajone, which produced some 148,939 tonnes of copper last year, is Southern's biggest mine in Peru, the world's No. 2 copper producer.
Yunnan Copper H1 Profit Down 30% - 0 views
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Yunnan Copper blamed lower copper prices, high energy and raw materials costs and a 45-day machine overhaul for a 29.5% year-on-year drop in profit, to RMB546 million (US$80 million), in the first six months of the year. "The sluggish economy led to a slowdown in copper consumption, causing a corresponding drop in cathode prices. Meanwhile costs of energy and raw materials increased in the first half year, which also curbed our profits," said the company. These results come in stark contrast to the 35% increase in H1 profit seen at Jiangxi Copper, another big Chinese smelter. Market sources put the difference down to the varying cost of copper production between smelters, as Yunnan's profits fell despite a 21.7% y-o-y increase in cathode output to 875,000t.
The China Factor and what it means for the copper price - 0 views
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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.
LS-Nikko to cut 2009 cathode output 10% - 0 views
Norddeutsche expects weaker Q1 2009 - 0 views
Aluminium hits record on China cuts - 0 views
Mueller Industries posts weaker Q2 earnings - 0 views
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US speciality brass mill Ansonia Copper and Brass Inc. has announced that it will lay off 85 of the 102 employees at its Liberty Street, Ansonia, factory in Connecticut. The plant manufactures copper alloy rod and wires. Company President Raymond McGee said "it's a very, very difficult situation". He blamed the redundancies, on top of 76 employees laid off in April 2007, on the company's struggle with escalating costs. Since 2002 electricity costs have soared 239%, natural gas 200%, fuel oil 125%, and copper and nickel 500% apiece. Ansonia's other facility in Waterbury, CT, which manufacturers copper alloy tube is unaffected by the announcement.
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Further evidence of the impact of the North American economic slowdown on copper demand has recently been published by the ABMS and government statistical bodies. North American copper wirerod production plummeted 9.6% year-on-year to 174,000 tonnes in April. Output had been on a downward trend but the magnitude of the deterioration in April has still come as something of a surprise. A year-on-year increase of 2.0% in North American output January had been followed a 1.0% fall in February and a 2.7% drop in March. In April Canadian output was flat year-on-year due to improving export sales to the US, while US production fell 9.8% year-on-year and Mexican shipments slumped by 17.5%. On a year-to-date basis North American wirerod production was 2.9% lower in the four months to April 2008. Weakening demand from the automotive industry, coupled with a resurgance in copper prices and the return of Russian wirerod imports has clearly led to a deteriorating market situation for domestic mills.
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Mueller Industries second quarter results highlight the tough times that the US brass mill industry is facing, but that companies can still operate profitably in a challenging market environment. The company's plumbing and refrigeration segment saw sales fall 11% to US$404m, while its operating profits dropped 32% to US$35m. The company blamed lower shipment volumes and lower spreads for the weaker performance. Sales at the company's OEM division, which includes its brass rod activities, rose 10% year-on-year to US$354m, while its operating profits rose 5% to US$19m. The improvement here is due to acquisition of Extruded Metals. Commenting on the results Harvey Karp, Chairman of Mueller Industries said "Mueller's earnings for the first half of 2008 were achieved despite the continuing decline in the housing industry, the sub-prime mortgage meltdown, the turbulence in the financial markets, rising metal costs, sky-high energy prices and a slowing national economy. Considering these adverse circumstances, we are pleased with the results."
Two new scrap recycling/dismantling projects in China - 0 views
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In late-May, two further large metal recycling projects have been announced in China as the country seeks to satisfy its burgeoning need for scrap metal given its shortfall in mineral resources. The Wuzhou Resource Recycling project has been approved to be constructed in Cangwu county in Guangxi province. The total investment in the project is 15bn Yuan. The construction is planned to cover an area of 667 hectares, divided into three stages, and will eventually create 40,000 new jobs. Separately, the Zhonghong recycling industrial park in Shenyang, Liaoning province has been completed and is to open in early June. The industrial park covers an area of 3 square kilometres and has cost 5bn Yuan to develop. It will create 10,000 employment opportunities and has dismantling capacity of 1 million metric tonnes per year.
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China to boost scrap recovery for smelters and fabricators
China - Copper consumption - 0 views
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The Chinese government is supporting the copper industry by eliminating taxes on copper concentrate imports and finished copper products exports. China is the world's top copper consumer and according to Antaike Chinese copper consumption in 2009 will grow by 2.1%, revised down from its previous forecast of more than 6%. The duty-free trading policies will benefit copper smelters and fabricators, however, weak global demand will continue to take its toll on Chinese exports.
Europe - Copper producers favoured by copper price increases - 0 views
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Positive expectations for copper producers have been generated by the recent increases in copper prices that reached US$4,725/t on the LME on 17th April. In Germany, copper smelter Aurubis expects that backed by rising prices the company will achieve oparating profits in the current fiscal year. Due to writedowns, the group suffered net losses in Q1 2009. In Poland, copper miner KGHM said that higher than expected prices may support the company to surpass its forecast. As a result, the company is updating its budget assumptions.
Spot copper TC/RCs around $50/T -Germany's Aurubis - 0 views
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HAMBURG, May 18 (Reuters) - Spot copper treatment and refining charges (TC/RCs) are believed to have fallen to about $50 a tonne and 5 cents a pound, Europe's largest copper producer Aurubis (NAFG.DE) said on Monday. This was down from a TC/RC level of $75 a tonne and 7.5 cents a lb reported in March. TC/RCs, the fees charged by smelters to refine copper concentrate into metal, are a key part of the global copper industry's revenues.
Japan - Smelters plan 21% y-o-y fall in production in 2011 - 0 views
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It has been reported that Japanese smelters plan a 21% y-o-y reduction in output in 2011. The reduction is caused primarily by consequences of the 11th March earthquake. The Onahama plant in Fukushima, which produces 300,000t/y has caused particular disruptions to production following a three-month shutdown.
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