It was reported that Abu Dhabi Basic Industries Corporation is planning to build a US$50mln copper tube project at Abu Dhabi's proposed metals park at Taweelah. The company has invited potential contractors to bid by the end of September. It is expected that the project will take 18 months to complete whilst capacity will amount to 30,000-40,000 tonnes of copper tube per annum. The plant aims to meet demand for copper commercial and plumbing tube in the Middle East and North Africa regions which currently rely on imports.

Draka published its H1 2010 sales figures and commented that the company saw signs of cautious recovery in several cable market segments. Revenues amounted to 1.1 billion euro in H1 2010, a 12% y-o-y increase from the same period in the previous year. Draka attributed the rise in revenues mainly to higher copper prices. It was reported that volumes fell by 0.6% y-o-y in H1 2010 whilst they rose by 0.9% y-o-y in Q2 2010. The company posted EBITDA, excluding non-recurring items, of 34 million euro in H1 2010, down by 17% from H1 2009. Demand was stabilised in most of end-use markets, however, there was no relief from highly competitive pressures.

Poongsan Corporation raised its sales targets, backed by strong Chinese demand. The company is expecting to sell some 210,000t of copper and alloy semis this year, compared to an earlier forecast of 205,000t. In addition, the company is expanding capacity in sheet and strip products used in electronics. It was reported that sheet and strip capacity will increase by 22%, to be completed by 2012.

Chinese imports of refined copper and copper semis are likely to have stayed flat of fallen slightly in March from a month ago. The figure in February was 322,282 tonnes, a 10.3% m-o-m increase. In addition, according to data released by the National Bureau of Statistics, Chinese output of copper processing products totalled 593,000 tonnes in February. Output in the first two months of 2010 amounted to 1.3 million tonnes, a 33.9% increase compared with the same period in 2009.

In the 9th World Copper Conference, organised by CRU in Santiago, Chile, Freeport-McMoRan said that they are 'enormously enthusiastic' about copper's long-term outlook. However, in the short-run, the company waits to see that demand has recovered in most parts of the world, especially in the US market. Confidence will improve when consumers start spending and businesses start investing and employing people.

Wolverine Tube (Canada) Inc., which was sold to a group of Canadian private investors in July 2008, has been renamed to Great Lakes Copper Inc. The company is Canada's leading fabricator of copper tube products for the industrial and refrigeration end-use markets.

It was reported that Southwire sold a second copper wirerod system to South Korean Taihan Electric Wire Co. Southwire will engage in the design of all the operating equipment for Taihan Electric, including the installation of its SCR 6000 system, which is capable of producing 260,000 tonnes of copper wirerod per annum at a rate of 40 tonnes per hour. The fist copper wirerod system was delivered to Taihan Electric in 1980. In total, Southwire has sold more than 80 continuous-cast SCR systems worldwide.

According to data released by the Shanghai Electric Cable Research Institute, total copper consumption in wire and cable manufacturing amounted to 4.5 million tonnes in 2009. The figure includes 1.0 million tonnes of copper scrap. It was reported that copper consumption in the electric wire and enamelled wire product segments alone reached 1.4 million tonnes and 1.0 million tonnes respectively.

Chinese imports of refined copper fell by 19% m-o-m to 196,926 tonnes in January 2010, in line with earlier expectations of industry participants. However, the figure rose by 9% from January 2009. Despite the recent liquidity tightening in China, signals still show robust copper demand growth.

According to data released by the General Administration of Customs, Chinese imports of unwrought copper and copper semi-finished products declined by 20.9% m-o-m to 292,096 tonnes in January. It was reported that traders turned to material in bonded warehouses to satisfy local demand. The figure was far lower than earlier expectations and reversed December's rise, which amounted to 27% m-o-m.

Ningbo Kangqiang Electronics reported that despite the recent liquidity tightening in China, their copper demand expectations remain optimistic. The company, which uses copper plate and strip, said that copper demand will peak in March and April, when Chinese copper fabricators traditionally increase production. It was reported that Chinese copper semis manufacturers will see demand for their products rise after the Lunar New Year (February 14th).

It was announced that Sumitomo Electrical Wiring Systems will close its New Model Development Centre by April 2011. The facility is based in Bowling Green, Kentucky, engaging in the development of wire harnesses and electrical components for the automotive industry. Some local operations will move to Marysville, Ohio and Lexington to be closer to end-users. In addition, some production operations will migrate to Mexico. The decision of the company will result in some 100 job losses.

According to data released by the Japan Copper and Brass Association, output of rolled copper products in November totalled 69,132t, up by 2.1% m-o-m and 0.8% y-o-y. From a y-o-y perspective, it was the first increase in 16 months, supported by improved demand from the semiconductor and automotive industries. In addition, the Japanese Electric Wire and Cable Makers' Association reported that copper wire and cable shipments in November were 58,700t; the figure was down by 0.1% m-o-m and 7.7% y-o-y. It was reported that even though the automotive industry has shown some recovery signs, demand from the construction sector was still slow.

The Committee of Industry and Information Technology of Jiangxi Province announced that Jian Xinwang Copper started a deep processing copper project in Jian City, Jiangxi Province. The investment of the project amounts to 120 million yuan and is expected to be commissioned in June 2010. Annual capacity will be 30,000 tonnes of copper products per annum.

According to Antaike, Chinese refined copper production in November amounted to 405,257t. For the 11 months to November the figure was 3,778,095t, an increase of 8% y-o-y. Chinese copper semis production in November reached 221,091t; for the year to November copper semis output totalled 2,432,149t, up by 17% compared with the same period in 2008. In addition, the customs office reported that refined copper imports in November increased by 15% m-o-m to 194,388t.

According to Assomet, Italian copper and alloy semis output in 2009 will amount to 900,000-910,000 tonnes, down from earlier forecasts. Production in 2008 totalled 1.19 million tonnes. The association said that 2010 may see a slight recovery with output levels around 920,000-930,000 tonnes. Assomet had anticipated that copper and alloy semis output in 2009 and 2010 would reach 923,600 tonnes and 968,300 respectively. However, the association reviewed its forecasts after weaker-than-expected output in H2 2009. It was reported that for the nine months to September, copper and alloy semis output fell by 25.8% y-o-y to 685,000 tonnes.

Jiangxi Mingxin Copper Industry started a copper fabricating project in Yingtai Industry Park. The investment is made by Fujian merchants and amounts to 360.0 million yuan (US$52.7 million). The new project is anticipated to be completed in February 2011. It was reported that expected revenue will be 1 billion yuan (US$146.5 million) and pre-tax profits 41 million yuan (US$6.0 million).

According to data released by the Ministry of Finance in Japan, exports of refined copper in October increased by 4.2% y-o-y to 39,197t. It was reported that more than a third was dispatched to China. The figure was also up by 4.2% compared with September, supported by recovered demand from the automotive and semiconductor sectors. Shipments to Taiwan amounted for 31.5% of the total, up from 25% in September. South Korea corresponded to 5% of total exports compared to 6% in September.

Ducab is planning a US$136.1 million project to help expand public sector electricity networks. The project is a JV with Dubai's Water and Electricity Authority (DEWA) and Abu Dhabi's Water and Electricity Authority (ADWEA). It is located in the Jebel Ali area and aims to supply DEWA and ADWEA with high voltage cables. According to company plans, one third of its output will be exported to Gulf states. It is expected that production will start in 12 months.

According to data released by the US International Trade Commission, copper imports in September soared to 56,012 tonnes, up by more than 50% compared to August. Larger import volumes provide optimism for economic recovery in the US. The US stimulus plan amounts to US$787 billion and until now only a fifth to a quarter has been spent. Maximum results of the stimulus programme are expected to be realised in Q4 2009 - Q2 2010.