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Prysmian declared the offer it advanced for Draka Holding on January 5, 2011 unconditional. The offer concerns all Draka shares in circulation, valuing them at EUR 8.60 apiece in cash plus 0.6595 ordinary Prysmian share. All offer conditions, except for the condition for granting all necessary authorisations, have been fulfilled, Prysmian said, adding it was waiving the regulatory condition. Prysmian will start a post-tender offer, which will run until 22 February, for the remaining minority shares in the Dutch company, at a price of EUR17.20 (USD23.43) per share in cash and stock. Including the preference shares to be acquired from Draka's minority shareholders ASR Levensverzekering and Kempen, Prysmian's holding will reach 91.4% in total, the buyer added. Upon a successful acquisition, Draka shares will cease trading on the Amsterdam stock market.

Paranapanema announced that it approved a capacity expansion and technology modernisation plan, supported by a positive macroeconomic outlook and favourable price trends for its products. The market will be boosted by Brazil's anticipated economic growth, and in particular by infrastructure, civil construction, electricity and green power projects. In addition, the 2014 World Cup and 2016 Olympic Games will provide further support. Paranapanema will increase its refined copper capacity at its Dias D'Avila unit from 230,000tpy to 280,000tpy in H1 2012. The company will also install a precious metal refining plant at the same unit, scheduled to be operational in H2 2012. Paranapanema's copper semis division, Eluma, will expand its cold rolling capacity from 28,000tpy to 55,000tpy. Furthermore, hot rolled products capacity will rise from 60,000tpy to 200,000tpy whilst tube capacity from 18,000tpy to 36,000tpy. Investment of the entire plan for 2011-13 will amount to 630 million reais (US$377 million).

"Brazilian copper products manufacturer Paranapanema's (Bovespa: PMAM3) board has approved an investment plan of 630mn reais (US$377mn) for the 2011-13 period."

China Customs announced that exports of copper semis fell by 1.3% y-o-y to 259,470t in H1 2011. Exports of copper wirerod and profile were down by 14.8% y-o-y to 3,900t in the same period. The fall in exports is considered to be the result of weak demand from Europe and the US as well as Chinese producers' shift to higher added value copper semis.

Hellenic Cables S.A. announced the acquisition of Fulgor S.A. through a 100% share purchase. Fulgor S.A. is a producer of cables, conductors and bare copper and aluminium wire rod, with significant experience in producing value added products such as high voltage and submarine cables. Fulgor S.A.'s Soussaki Corinth plant has a production capacity of 50,000t/y of cables and conductors and 45,000t/y of copper and aluminium wire rod. Hellenic Cables believes that the acquisition will strengthen its export orientation and enrich its product portfolio.

There have been reports that the Jinchuan Group Ltd. has invested in modernising its 60,000t/y high-precision copper tube production line. The company introduced a 55MN double-action extruder and a 35MN indirect extruder. Similar to many other Chinese copper semis fabricators, Jinchuan is focusing on increasing its output of more technologically advanced products which have greater value added.

It was reported that China's Amer International expects to complete construction of its new 250,000t/y copper rod production line, located in its Chaohu City facility in Anhui Province, by year-end. The expansion project will bring Amer's production capacity to 500,000t/y and its total copper rod production is anticipated to reach 200,000t in 2011. A spokesperson for the company said that it will manufacture rod for both domestic and foreign export markets. In addition, Amer also intends to source copper cathode for rod-processing from within China and also overseas. Total investment for the project amounted to RMB2.5B.

Southwire, the US-based aluminium and copper cablemaker, has said that while the use of copper in most electrical applications is unlikely to change, some manufacturers are likely to move toward the use of aluminium wire. The auto industry is increasingly using aluminium wire for traditional copper applications. This is occurring most predominantly outside of the US, however domestic autos companies have also been using aluminium wire for battery cable and aluminium wire harnesses for lights. Southwire stated that for most electrical applications copper usage will remain dominant because of its overall reliability.

Guangzhou Jiangtong Copper products, a subsidiary of Jiangxi Copper, announced that it began trial production at its new 400,000t/y copper wirerod plant this week. The company expects to supply nearby consumers in southern China as well as those in foreign markets in Southeast Asia. Capital investment expenditure totalled RMB2.0B.

"In the process the waste is treated using steam, the metals present in the waste act as a catalyst and under certain conditions gaseous hydrogen is obtained: a fuel that is becoming established but whose main problem lies in storing it. "