Some Chinese copper producers may be eyeing exports following the removal of a 3% tax on toll-rolled exports in July. In an unprecedented move, some Chinese producers are said to be considering signing export contracts in a bid to stabilise revenues amidst a highly competitive domestic environment. Earlier trade data for September showed a sharp increase in China's export of refined copper, 214,789 tonnes in the first nine months of the year, up 40% from the equivalent figure in 2011.

Nexans says it has been awarded one of two contracts to lay a high voltage power cable between Italy and Montenegro. The contract, worth approximately EUR300Mn (US$388Mn), will involve laying 415km of cable of which 393km is subsea cable and 22km of underground cable. When releasing the news, Nexans said that the contract reinforces their position as a leader in the global power interconnections sector.

On October 29th, Japan's Hitachi Cable Ltd announced plans to form a deeper business alliance with Chinese partner Zhongtian Technology Group Co (ZTT). The alliance will see the two companies, which have been joint venture partners since 2000, concentrate on possible tie-ups in the wire and cable sector within China. The announcement forms part of Hitachi Cable's medium term strategy to concentrate on the social infrastructure sector. According to CRU estimates, Hitachi Cable Ltd is the world's 8th largest wire and cable producer. Hitachi Cable projects total sales of USD 5.27bn in 2012/13.

US wiring manufacturer Encore Wire released its financial results for Q3 and the nine months ending September 2012. Sales for Q3 were $269.2 million down y-o-y from $319.4 million. The company said lower prices for building wire and the lower copper price contributed to this. Net income for the quarter also fell y-o-y from $13.7 million in Q3 2011 to $5.5 million in Q3 2012. The company's CEO commented that "The third quarter of this year was another fairly steady volume quarter in the midst of this construction industry recession. There are signs of bright spots around the country and talk of some major projects, but for the most part we are still in the trough. Major projects are discussed but then get delayed due to uncertainties surrounding the global economy and the U.S. economy and political environment. The good news is that our volumes are not trending downward."