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Sumitomo Electric Industries Ltd., the Japanese integrated cablemaking company, announced plans to build a new copper wirerod plant in Thailand. The facility will add 17,000t/m of capacity to the company's current 20,000t/m, which is split between rod mills in Japan and Indonesia. Sumitomo intends to supply copper wirerod primarily for downstream processing into automotive wire harnesses and electric motors in order to meet growing demand from the emerging South East Asian car markets.

Japan's Ministry of Finance reported that refined copper exports amounted to 23,760t in May, down by 52% y-o-y. This marks the eighth consecutive monthly y-o-y fall in exports, mainly attributed to consumer destocking in China. Conversely, when compared to the previous month, refined copper exports rose by 0.8%. China, Taiwan, Indonesia and Thailand are the major destinations for Japanese refined copper exports.

It was reported that Gree Electric Appliances, a state owned manufacturer of air-conditioners, recorded a 65%y-o-y increase in exports in Q3. Indonesia, Brazil, India and Africa were quoted as regions with great potential for exports. The company anticipates that the air-conditioning industry will witness a 20-30% y-o-y increase in exports in 2011. Nevertheless, Gree noted that the eurozone crisis is impacting negatively on business.