The daily news bulletin for the informed wire & cable executive. Reaching a regular audience of 7733 readers in 101 countries. Wire & Cable Industry news Subscribe here for your automatic email   RESOURCES... - Exchange Rates - Info Links - Forex TV - Publication Policy - Email the Editor - Advertising November 20th, 2009  - Market Stats Taipei Taiwan - Taiwan’s wire rod exports in October up by 12pct MoM Yieh reports that Taiwan exported 17,800 tonnes of wire rod in October 2009, up by 12% MoM while down by 12% YoY. For the wire rod which diameter is below 14mm, Taiwan achieved an average exported price of TWD 20,090 per tonne in October 2009, up by TWD 150 per tonne on September. As for the wire rod which diameter is over 14mm, Taiwan achieved an average exported price of TWD 20,180 per tonne, up by TWD 90 per tonne. The main reason why the average exported price enjoyed a pick up is because the exported price to Malaysia and Thailand increased. November 20th, 2009  - Projects Seoul Korea - Kiswire plans to expand investment in Qingdao South Korea Company Kiswire Ltd is plans to invest around USD 5 million to 10 million in the export processing zone of Qingdao, building a 20,000 square meter plant expanding capacity of all products made in China for export. The vice mayor of the city met the mission of Kiswire recently and said they will strongly support the investment. As per a report from MySteel.net, the company has already set up three subsidiaries in Qingdao so far. November 20th, 2009  - Acquisitions Beijing China - General Steel Holdings signs Non-binding LOI to acquire Tangshan Baotai Iron and Steel Group General Steel Holdings, Inc., one of China's leading non-state-owned producers of steel products and aggregators of domestic steel companies, today announced that it has signed a non-binding Letter of Intent ("LOI") to acquire a 60% controlling interest in Tangshan Baotai Iron and Steel Group Co., Ltd. ("Baotai"), a non-state-owned producer of steel billet and strip steel in Tangshan, Hebei province, China. If this transaction is consummated, General Steel is expected to have approximately 10,000 employees and operate five subsidiaries based in China producing a variety of steel products including rebar, steel billet and strip steel, hot-rolled carbon and silicon sheet, high-speed wire and spiral-weld pipe. See Extended Story.. November 20th, 2009  - Acquisitions Melville New York - Arrow Electronics to buy specialty wire firm A.E. Petsche Electronic components distributor Arrow Electronics said it will purchase Arlington,Texas-based wire, cable and harness supplier, A.E. Petsche Co, for an undisclosed amount.Melville-based Arrow said the acquisition would expand its reach into the aerospace and defense market, Petsche’s consumer base. The deal is slated to close before the end of the year. The Texas company, which employs 250 people, distributes its cables, connectors and wires throughout the United States, Canada, Mexico, the United Kingdom, France, and Belgium. It also had $220 million in sales in 2008. November 19th, 2009  - General Washington D.C. - Many Chinese steel wire companies hit with 438% countervailing duties as U.S. sets duties on Chinese steel wire goods The Commerce Department has set preliminary duties ranging from 2% to 438% on hundreds of millions of dollars of imported steel wire decking from China to offset government subsidies. The preliminary decision on Tuesday concerns welded-wire rack decking, a product used in industrial and other commercial storage rack systems. U.S. companies imported an estimated $317 million of such decking in 2008, an increase of 49% from 2006. See Extended Story.. November 19th, 2009  - Market Stats London U.K. - Market eyes weak demand, with LME copper stocks up again Copper fell on Tuesday as the U.S. dollar recovered and investors saw a rise to 13-1/2 month highs in the previous session as overdone given continuing stockpile gains. Benchmark copper for three-months delivery on the London Metal Exchange traded at $6,795 (U.S.) a tonne at 1026 GMT, after surging 5.1 per cent to close at $6,855 on Monday, a level not seen since late September 2008. “Yesterday's jump was a little bit overdone, there are still wider economic concerns. We've seen builds in (copper) stocks since the middle of the year but it's had no impact on price,” said David Wilson, analyst at Societe Generale. “The market is picking and choosing what it decides to take notice of, it's entirely sentiment driven,” he added. The U.S. dollar inched off 15-month lows on Tuesday, making dollar-priced metals more expensive for non-U.S. investors. Also weighing on copper, equities, seen as a proxy for economic growth retreated from 13-month highs in Europe. But overall sentiment remained upbeat, with funds who have helped drive copper up more than 120 per cent this year still pinning their hopes on a revival in demand for raw materials next year. See Extended Story.. November 19th, 2009  - General New York City - Strong US metal imports fuel economic rebound hope Greater shipments of industrial metals into the United States in September reflect a budding optimism in the economy and relatively attractive prices should keep luring manufacturers into replenishing depleted inventories. The U.S. International Trade Commission on Friday reported that September copper imports soared more than 50 percent from August to 56,012 tonnes. Aluminum shipments were up more than 18 percent to 134,800 tonnes, and zinc and nickel also showed month-over-month gains. Recent data reinforces a brighter economic outlook. The Institute for Supply Management Manufacturing index rose to 55.7 in October, marking the third month of expansion, while a 0.7 percent rise in industrial production and gains in both construction spending and new housing starts added to the positive sentiment. The U.S. will likely continue to ramp up spending, as Feds has indicated they will keep interest rates at extremely low levels and provide ample financial sector liquidity for most of 2010. Out of the $787 billion allocated for the U.S. stimulus program, only about a fifth to a quarter has been spent so far. Much more of the U.S. stimulus money is to come out by end of fiscal 2010, with maximum impact occurring in Q4 2009 - Q2 2010. November 19th, 2009  - General Brantford Ontario - Steel demand slowly picking up but is a long way off peak in 2008 Russian apparent steel demand is expected to rise 15-20 percent next year thanks to robust construction activity, an executive at Severstal , Russia's largest steelmaker, said on Monday. Construction projects and machinery orders will help demand to rise next year in the world's fourth largest steel producing country, Alexander Malanichev, Severstal's head of strategic marketing, told a Metal Bulletin steel conference. However the increase in demand is from an extremely low level as Russian steel demand is expected to drop by 30 percent overall in 2009, compared with 2008. The global steel industry is slowly recovering from one of the worst downturns it has seen in its history. But the rise in orders are yet to be reflected in company results, analysts say. Malanichev said he saw signs of improvement in Russian steel demand but said looming overcapacity was a major threat for the prices, which have risen over the past couple of months from last year's lows. See Extended Story.. November 18th, 2009  - Acquisitions Luxembourg - ArcelorMittal acquires an additional 13.881% stake in ArcelorMittal Ostrava, a.s. ArcelorMittal today announces that it has signed an agreement to acquire a 13.881% stake in ArcelorMittal Ostrava, a.s. from a subsidiary of PPF GROUP N.V., an international financial and investment group in Central and Eastern Europe, for CZK 6,879,524,000 (approximately $US 404.3 million). This values ArcelorMittal Ostrava, a.s. at an Enterprise Value of approximately $US 264 per tonne of liquid steel capacity. The final payment will be made in 2010. ArcelorMittal will thus increase its stake in ArcelorMittal Ostrava, a.s. to approximately 96.4% and PPF GROUP N.V. will step out of the Czech steelmaker's shareholding structure. This agreement is consistent with ArcelorMittal's commitment to continue as one of the largest foreign investors in the Czech Republic. ArcelorMittal Ostrava a.s. is the largest steelmaker in the Czech Republic See Extended Story.. November 18th, 2009  - General Tokyo - Tokyo Steel to raise wire rod prices for December contracts Japan’s largest maker of construction girders, will increase prices of some products by as much as 4.2 percent because of rising raw material costs. The Tokyo-based company will raise the price of construction products including deformed steel bar, wire rod, and I-beam by 2,000 yen ($22.3) a metric ton for contracts starting next month, it said today. Rising steel production in China, the world’s largest maker, will likely spur higher costs for materials including iron ore and steel scrap, pressuring earnings for the industry, Managing Director Naoto Ohori told reporters in Tokyo. Iron ore prices may rise 20 percent next year, Samsung Securities said yesterday. “Raw material costs are likely to go up,” Ohori said. “Cost increases would be unavoidable for steelmakers.” The company will sell deformed steel bars at 50,000 yen for December. Prices of wire rods will increase to 61,000 yen next month from 59,000 yen, and I-beam will be raised to 64,000 yen from 62,000 yen, the company said. November 18th, 2009  - General Mumbai India - Aksh Optifibre to transfer manufacturing undertaking Aksh Optifibre informed BSE today that the company has executed an agreement for sale of its manufacturing undertakings engaged in manufacturing optic fiber, optic fiber cable, ERP rods and other telecom cables at Bhiwadi and Reengus in Rajasthan to its wholly owned subsidiary namely Aksh Technologies, on a going concern basis. November 18th, 2009  - General New Holland, Pennsylvania - Ber-Tek fiber-optic cables exceed OM4 Berk-Tek, a Nexans Company, says that its fiber-optic cable family includes fiber grades that exceed the recently ratified TIA-492AAAD for OM4 specifications. OM4 fiber is a 50-µm laser-optimized multimode fiber with extended bandwidth properties over the previous OM3. It is designed to enhance the system cost benefits enabled by 850-nm VCSELs for existing 1- and 10-Gbps applications, as well as future 40 and 100 Gbps systems. With an effective modal bandwidth (EMB) of 4700 MHz*km, OM4 fiber can reach a distance of 550 m for 10 Gbps (almost twice that of OM3). See Extended Story.. November 17th, 2009  - General Beijing China - Strong demand leading to steel overcapacity in China 21st Economic Herald citing Mr Tang Bin Chief Engineer of National Development and Reform Commission said in 7th China Iron and Steel Annual Meeting lately held in Beijing that "Now, some small blast furnaces and the outdated facilities which have been closed before are starting operation again." Nowadays, production speed and investment is picking up in China steel industry, driving oversupply to increase again. The data shows, national output of crude steel was posted at 472.47 million tonnes during January to October 2009 edging up 10.5% from one year ago, and the output came at 51.75 million tonnes in the single month of October a growth of 42.4%YoY. See Extended Story.. November 17th, 2009  - Projects Mumbai India - Essar, Dhabi Group sign deal on Warid stake in Uganda, Congo The Dhabi Group and India's Essar group have signed the definitive agreements for an investment by Essar into Warid in Uganda and Republic of Congo. Essar will acquire a majority stake in both the operators, while the partnership is also expected to bring operational efficiencies to the African operations. The transaction is subject to regulatory approvals in Uganda and Republic of Congo. The move is in line with Essar's plan be a part of the growing telecommunications market in Africa. Essar Telecom earlier launched mobile services in Kenya under the brand 'yu'. November 17th, 2009  - General Taipei Taiwan - Taiwan`s wire and connector suppliers expand output to tap notebook PC boom With demand for notebook PCs strongly rebounding due partly to launch of Windows 7 and partly to market recovery, Taiwan`s manufacturers of wires and connectors for notebook PCs are actively moving to expand their output to tap the market boom, according to industry sources. For instance, a brand new fabrication plant of Wanshih Electronic Co., Ltd., a top-caliber supplier of mini coaxial cable assemblies, is under construction in China and will become operational by the end of next year and lead to a 30-50% increase in the firm`s total output. Plus, other power cord and cable makers, namely Taiwan Line Tek Electronic Co., Ltd., I-Sheng Electric Wire & Cable Co., Ltd. and Lotes Co., Ltd., have also kicked off output expansion recently. See Extended Story.. November 17th, 2009  - General Beijing China/Singapore - Chinese Commerce Minister Chen Deming blasted Obama's decision to slap on duties. Chinese Commerce Minister Chen Deming blasted Obama for slapping on import duties using special anti-surge measure that applies only to China and that Washington had never before used. Chen, in a speech in Singapore, said that action violated pledges Obama and other world leaders had made against imposing new protectionist measures through 2010. "Shouldn't a measure that has never been used, for decades, be considered a new measure?" Chen said. He also took a swipe at Obama's hope of boosting exports to fuel U.S. economic growth, while persuading China and other Asian economies to rely less on selling to the United States and more on their own domestic demand. "Some countries on the one hand want to use every kind of protectionism to revive their employment numbers quickly (and) at the same time want to increase their exports by a lot and turn into the world's biggest exporter," Chen said. See Extended Story.. November 16th, 2009  - Press Releases Vienna, Austria - NEWS from the AWCMA/VOEDKM - Austria Achieving greater awareness of its market leading high-tech products and Austrian engineering in the international wire and cable industry are central to the global aims of the Austrian Wire and Cable Machinery Manufacturers´ Association (AWCMA/VOEDKM) . Since its foundation in 1988 by Dr. Kurt G. Eder, 21 Austrian specialist firms are available to apply state-of-the-art technology to the solution of wire and cable production problems. During the 2009  Annual General meeting, the following members of the board have been elected in office until end of 2012 : Members of the board: President:                             Dr. Kurt G. EDER                       (EDER Engineering-Austria) Vice-President:                    Mag. Robert EBNER                   (EBNER Industrieofenbau) Secretary:                            Mag. Werner LICHTSCHEIDL  (MEDEK&SCHOERNER) Coordination&Advisor         Ing. Siegfried ALTMANN           (KNILL Group/ROSENDAHL GmbH) See Extended Story.. November 16th, 2009  - Reports Brussels Belgium - Bekaert sees Q4 sales matching earlier quarters Belgian steel cord and wire maker Bekaert reported an 11.2 percent drop in nine-month sales on Friday, as expected, and said fourth-quarter sales should be similar to those of previous quarters. Bekaert, whose products are used to reinforce tyres and concrete, has been hit by customer destocking in the battered housing and auto sectors and due to inventory writedowns. Consolidated sales for the first nine months of 2009 came in at 1.82 billion euros ($2.7 billion), exactly in line with the average forecast in a Reuters poll of five analysts. Weak demand in Europe and North America, especially in the automotive and construction markets, led to a sharp drop in sales there during the nine-month period. This was partly offset by strong demand in the Asia-Pacific region, and by the integration of two wire product manufacturing units in Latin America. The group said in a statement that the trend for its automotive-related sales was gradually improving. See Extended Story.. November 16th, 2009  - General Washington D.C. - US to continue with import curbs on Indian steel wire strand. The US has decided to continue with restrictions on import of a steel product from India and five other countries by way of extra duties on the commodity. The US International Trade Commission (ITC) at its meeting on Tuesday decided to continue with countervailing duty on prestressed concrete steel wire strand from India. It also decided that anti-dumping duties on this product from Brazil, India, Korea, Mexico, Thailand, Japan will continue. All the six members of the Commission supported the decision. ITC has determined that revoking the existing import restrictions on prestressed concrete steel wire strand from India and four other countries would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time, the Commission in a statement. See Extended Story.. November 16th, 2009  - General Mumbai India - 16 Indian wire maker’s plea for duty-free status sparks US criticism At least two U.S. trade associations and one major aluminum company have filed written objections to an Indian wire manufacturer's petition seeking duty-free treatment. The petition, which has garnered stark opposition from both Noranda Aluminum Inc. and the Aluminum Association, was filed by Mumbai-based Apar Industries Ltd. in an attempt to add aluminum conductor steel reinforced (ACSR) wire from India to the Generalized System of Preferences (GSP) program of the U.S. Trade Representative (USTR). The GSP program, which is designed to promote economic growth in the developing world, provides duty-free treatment to more than 7,000 products from eligible countries. November 14th, 2009  - Projects Paris France - Nexans wins 35 million euros submarine power cable project for the French island of La Réunion Nexans, a worldwide leader in the cable industry, has been awarded a 35 million euros turnkey contract by EDF to construct a new submarine power cable for the French island of La Réunion in the Indian Ocean. The cable link will take a subsea route along the coast to connect the power production area located at Le Port in the West of the island to the capital city of Saint-Denis which requires much of the energy. By choosing this subsea cable route, the construction of 20 km of aerial power lines across a natural environment made of rugged, steep and mountainous terrain was avoided. See Extended Story.. November 14th, 2009  - General Rio de Janeiro Brazil - Bad weather blamed in blackout for 60 million in Brazil but transmission line capacity may be the real culprit. Heavy rain, lightning and strong winds caused blackouts that left nearly a third of Brazilians — 60 million people — in the dark, officials said Wednesday as they scrambled to restore confidence in the country's infrastructure before soccer's 2014 World Cup and the 2016 Olympics. The weather made transformers on a vital high-voltage transmission line short-circuit, Brazil's energy minister said. Two other transmission lines also went down as part of an automatic safety mechanism.” The problem was exclusively with the transmission lines," Energy Minister Edison Lobao said. The blackout cut electricity to 18 of Brazil's 26 states and left them without power for up to four hours Tuesday night. See Extended Story.. November 14th, 2009  - General Beijing China - China steel restructuring plans due by year-end New plans by the Chinese government to restructure the steel sector are expected to be announced by the end of the year, an official said on Thursday. The plans would include new consolidation targets, and a renewed effort to eliminate poor-quality steel capacity, said Jia Yinsong, inspector at the raw materials division of the Ministry of Industry and Information Technology. "We are now drawing up new policies to deal with all the problems in the industry," he told a conference. China has sought to improve "order" in its fragmented steel industry, with long-standing plans to consolidate the sector under the leadership of its biggest mills. See Extended Story.. November 14th, 2009  - General Hickory North Carolina - Edwards named president and COO of CommScope Eddie Edwards has been named president and chief operating officer of CommScope, Inc. effective January 1. Edwards will succeed Brian Garrett, who will retire later in 2010 after a 30-year career with the company. Until that time, Garrett will initiate and serve as advisor on several special projects within CommScope. “Eddie is an accomplished leader with an extensive track record of success,” said Frank Drendel, chairman and chief executive officer, CommScope. “He is the perfect choice to continue Brian’s great work and drive CommScope to the next level through profitable growth, innovation and quality.” Garrett joined CommScope in 1980 as vice president of engineering. He later served as CommScope’s Network Cable Division vice president and general manager, a business he helped launch. Garrett was promoted to executive vice president before being named president and chief operating officer in 1997, the year CommScope attained public ownership after being spun-off from General Instrument Corporation. See Extended Story.. November 13th, 2009  - Product Releases Milford New Hampshire - Hendrix Wire & Cable introduces larger cable for wind industry. Milford, N.H.-based Hendrix Wire & Cable, a provider of overhead and underground distribution products, is now offering the 1250 KCML underground cable to the wind power industry. The 1250 KCML size is a larger addition to Hendrix's wind offering. According to the company, the larger-size cable is replacing the smaller 1000 KCML cable. The size change correlates to the increase in wind turbine generation capacity, according to Hendrix. The Hendrix 34.5 kV collection grid cables are available in both aluminum and copper conductor. Standard conductor sizes range from 1/0 through 1250 kcmil. Both full and reduced concentric neutral configurations are available. All cable is manufactured in the U.S., made and tested to ICEA/AEIC standards and is dry-cure, triple-extruded. November 13th, 2009  - General Amsterdam The Netherlands - Draka manages fiber infrastructure project for Rwanda's nationwide energy network Draka Communications, a global provider of optical fiber and cabling, is in the deployment phase of a nationwide fiber-optic infrastructure throughout the Republic of Rwanda. The implementation entails running fiber-optic cables along electricity transmission and distribution lines to link all the power plants, substations, and town offices of Rwanda's public power company, including the National Control Centre in the country's capital Kigali. Draka's fiber infrastructure will also interconnect an advanced management system for the country's high- and medium-voltage electrical grid. See Extended Story.. November 13th, 2009  - General Ruthland Vermont - Carris Reels is relocates its corporate headquarter. Carris Reels is relocating its corporate headquarters from Rutland to the former Citizens Bank building on Main Street. Carris Reels purchased the 10,531-square-foot stone building from Omya Inc. in October and will relocate its corporate offices and its 23 employees from 439 West St. before the end of the year, Carris Reels President Michael Curran said Tuesday. "This building has always been larger than we needed," Curran said, "so an opportunity arose to purchase the other building so we did so." He said the 16,000-square-foot West Street building is owned by Bill Carris, the company's board chairman. Before it was purchased by Carris, the building housed the back-room operations of First Vermont Bank. Carris Reels expects to complete the move to Proctor by mid-December, which will have no effect on the Center Rutland manufacturing operations, Curran said. To visit Carris Reels web site use this link November 13th, 2009  - General Calcutta India - Usha Martin to lower debt and expand capacity of specialty steel. Usha Martin, one of the leading wire rope manufacturers globally, may raise equity to deleverage its balance sheet. The company has about Rs 1,600-crore net debt and its debt-equity ratio stands at 1.61:1. Usha Martin may raise some equity to reduce its debt, most likely in the fourth quarter of this fiscal, after the Rs 2,100-crore expansion project is complete. Rajeev Jhawar, a promoter and the managing director of Usha Martin, said no decision had been taken on any fund-raising plan. “There is no immediate need. But if the company finds it suitable, we may look at raising money for future growth,” he said. See Extended Story.. November 12th, 2009  - Press Releases Vienna, Austria - News from EDER Engineering GmbH – Austria NEW ORDERS for EDER ENGINEERING-AUSTRIA: As a result of continuous efforts within the global wire and cable industry and to some degree certainly also benefitting from the evident economic upturn, EDER-Austria have recently been entrusted with considerable orders for complete die-tool workshop equipment lines from „AZENCO“ in Azerbaijan and from GULF Cable Co. – Jordan. NEW CATALOGUES available : EDER-Austria have launched new catalogues for die-tool processing and reparing equipment as well as for an attractive selection of die-workshop ancillary devices and die-tools. NEW EDER-Representation for Colombia/Ecuador : Matthias BRUEGGER, active within the wire drawing industry of his region for many years and also representing Wafios, Koch, Schlatter, Strecker, Bongart, Wittels & Albert etc., is now representing also EDER-Austria in Colombia and Ecuador. See Extended Story.. November 12th, 2009  - General Beijing China - What is China up to? Copper stockpiles held in duty-free warehouses in China, the top user, may be re-exported after surging to as much as 350,000 tons from almost none at the start of the year, according to Xi’an Maike Metal International Group. “We can hardly find buyers for refined copper,” said Luo Shengzhang, general manager of the copper department at Xi’an Maike. The company ranks among the country’s three biggest importers, according to the executive. “China’s got to export some copper from now and next year,” Luo said in an interview. Copper, has more than doubled this year as China’s 4 trillion yuan ($586 billion) stimulus spending, increased state stockpiling and a lack of scrap material boosted China’s imports to a record. That’s helped to drive Chinese prices below London’s since at least July. Xi’an Maike has had to re-route some bonded copper to London Metal Exchange warehouses in South Korea because the company was unable to find buyers in China, with local supply outpacing demand, said Luo. The effect of the stimulus package was wearing off and local scrap supply was improving, he said. See Extended Story.. November 12th, 2009  - Reports Nuremberg Germany - Leoni 3rd Q sales down 38% from same period last year. Leoni, one of the largest providers of cable systems to the automotive sector and other industries, recorded consolidated sales of EUR 531.1 million in the third quarter of 2009. The MDAX-listed company says it has stabilized its business further despite the extended summer holiday plant shutdowns of many vehicle manufacturers. Leoni’s earnings situation improved significantly during the year due to the rapidly and resolutely implemented cost reduction program: from the beginning of July to the end of September 2009 the Company generated consolidated earnings before interest and taxes (EBIT) of EUR 5.5 million (previous year: EUR 24.2 million), having still recorded losses in the two preceding quarters. The adjusted EBIT amounts to EUR 11 million (previous year: EUR 28.2 million). See Extended Story.. November 12th, 2009  - General Washington D.C. - US DOC preliminary results on wire rods from Trinidad and Tobago On November 24th 2008, the US Department of Commerce initiated an administrative review of the antidumping duty order on carbon and alloy steel wire rod from Trinidad and Tobago for the period of review October 1st 2007 through September 30th 2008. US DOC said “We preliminarily determine that during the POR, ArcelorMittal Point Lisas Limited and its affiliate ArcelorMittal International America LLC made sales of subject merchandise at less than normal value. If these preliminary results are adopted in the final results of this administrative review, we will instruct US Customs and Border Protection to assess antidumping duties on all appropriate entries of subject merchandise during the POR.” It said “Interested parties are invited to comment on these preliminary results. The Department will issue the final results within 120 days after publication of the preliminary results.” Petitioners are ISG Georgetown Inc, Nucor Steel Connecticut Inc, Keystone Consolidated Industries Inc and Rocky Mountain Steel Mills. (source SteelGuru) November 11th, 2009  - Acquisitions Rochester Hills Michigan - A Raymond acquires Tinnerman to form combined fastener group A Raymond, a leading global supplier of automotive engineered fastening and fluid-handling connections systems, has acquired Tinnerman Palnut Engineered Products of Brunswick, Ohio. A Raymond will merge its current North American operations with Tinnerman to form A Raymond Tinnerman Manufacturing. The acquisition will substantially expand A Raymond’s presence in automotive as well as other industrial markets in North America, according to David J. Nenno, president of the new operating group. See Extended Story.. November 11th, 2009  - General Wuhan China - China Minmetals-refined copper imports down in 2010 China's imports of refined copper are expected to fall after record imports this year resulted in high domestic stocks, Gu Liangmin, general manager of copper department of China Minmetals Non-Ferrous Metals Co Ltd said on Saturday. Gu said Codelco, the world's top copper producer and the biggest refined metal supplier to China, should not raise term premiums to Chinese buyers, including Minmetals, for the delivery next year. Codelco is expected to hold talks with Chinese buyers for 2010 term premiums for refined copper in the week of Nov 16, buyers said. See Extended Story.. November 11th, 2009  - General Beijing China - China praises U.S. trade panel for rejecting probe China on Monday praised a U.S. trade panel's decision to reject an investigation into imports of Chinese steel fasteners, saying it was the "correct judgment". China's commendation contrasted with the flare-up in trade tension last week when the United States imposed new anti-dumping duties on steel pipes and China launched its own investigation into imports of U.S.-made automobiles. Both countries, while pressing on with trade cases, are also seeking to ensure a cordial atmosphere for U.S. President Barack Obama's visit to China next week. The U.S. International Trade Commission on Friday voted 6-0 to reject an investigation into charges that China and Taiwan were dumping certain standard steel fasteners in the United States. The U.S. trade panel approved two new investigations into charges of unfair trade practices by China, with one covering coated paper and the other about certain types of salts. China's Commerce Ministry made no mention of either of these investigations, but said that it hoped the United States would avoid protectionism and be objective and fair in judging future cases. November 11th, 2009  - Projects Milford New Hampshire - Hendrix Wire and Cable adds new drawing and stranding capacity to Milford facility Hendrix Wire & Cable, a provider of high-quality underground and overhead distribution products, announces the addition of new drawing and stranding capacity to the Milford Facility. Hendrix has provided primary cable to the utility industry for over 50 years and is a major supplier of 35 kV TRXLP cable to the wind power industry. See Extended Story.. November 10th, 2009  - Projects Mumbai India - Finally, Tata Steel gets land in Vietnam for $5-billion project After two years of waiting, Tata Steel will get alternative land in Vietnam for building a 4.5 million tonne a year steel plant with an investment of $5 billion. The board of Vung Anh Economic Park has proposed allocation of 725 hectares to Tata Steel and its Vietnamese partners in the central province of Ha Tinh. Tata Steel’s spokesperson told Business Standard the proposal had been accepted by the company. Under the proposal, 700 hectares would be used for construction of a steel plant with a designed capacity of 4.5 million tonnes a year, Indronil Sengupta, Tata Steel’s executive manager of projects in Southeast Asia told Vietnamese media. The Indian steel maker has a 65 per cent stake in the venture, while Vietnam’s Steel Corporation and Vietnam Cement Industries Corporation hold 30 per cent and 5 per cent, respectively. See Extended Story.. November 10th, 2009  - Projects Stockholm Sweden - Sweco bags consulting contract to connect Lithuania to European grid Sweco Sweden, a technology consulting company, has bagged a contract worth over EUR 0.86m ($1.3m) to develop a transmission line in Lithuania. The company will plan a new 400kV power transmission line between the Lithuanian city of Alytus and the Polish border. Eva Nygren, president of Sweco Sweden, said: "The transmission line will have the highest voltage ever built in Lithuania, and will also create an interconnection to the European grid and facilitate the exchange of power with other EU member states. This will be a critical step towards Lithuania's goal to increase its energy independence." See Extended Story.. November 10th, 2009  - General Ottawa Canada - Canada, wants to start shipping green energy to the U.S. Canadian utilities are rapidly investing in renewable power, despite slumping demand for electricity in their country. The goal: to capture a share of the growing market for export of green electricity to the United States. Canada's domestic electricity demand was flat from 2004 through 2008, while its electricity exports to the United States jumped 70 percent, with most of that growth met by higher renewable power generation. Hydroelectric power grew 10 percent and wind power nearly tripled, while fossil fuel generation fell 10 percent. The growth of Canada's green power exports comes alongside the continued expansion of its much larger, more well-known export: petroleum, including heavy oil sands production responsible for high levels of greenhouse gas emissions. With the growth of renewable exports, Canada could become the largest source of both dirty and clean power to the United States. See Extended Story.. November 10th, 2009  - General Mumbai India - Mukand to revamp business with new range of products In a move to revamp the business, specialty steel maker Mukand is looking to improve its product mix by raising the production of its high-value products. The company aims to become a ‘one-stop-shop for specialty steel products’, generally for auto and engineering industries. “The company is enhancing the production of ball-bearing steel, cold-heading quality steel wire, peeled bars, bright bars and heat-treated bars for cashing in on the growing demand,” said Niraj Bajaj, Chairman and Managing Director. With the revival in demand in the past two months, the order book of the company is full. The industrial machinery division has its highest-ever order backlog, worth Rs 580 crore. At all the segments, the company was cutting costs to weather any further slowdown, said Bajaj. See Extended Story.. November 9th, 2009  - General Santa Fe Springs, California - Philatron Wire and Cable Chief Engineer announces official division named “Advanced Engineering Design” Philatron Wire and Cable Chief Engineer announced today a new division named “Advanced Engineering Design”. This value added service now allows customers in OEM Markets to work with experienced electrical engineers in R & D prototype OEM Cables. Philatron Engineers will prepare layout, design, CAD drawings with details on wire stranding, gages, conductors, conductive properties, specialized compounds suggested for use on custom cable requests. This department also allows other industrial marketplaces to re-engineer already in use cable for a possible savings and cost effective cable. Philatron has found many custom cables are over engineered, and over priced with unnecessary extras in cable design. Phil Ramos, Jr, Philatron CEO, states “Philatron readily accepts this feat after receiving boxes upon boxes of unidentified cable from the military. Philatron Engineers’, inspecting every conductor, every strand, re-engineered a more cost effective, better applicable design for the cables given operation.” Philatron offers this service for free with orders placed for the particular designed cable. If order is not placed or needed, Philatron offers engineering design fee. See Extended Story.. November 9th, 2009  - Market Stats London U.K. - EU average stainless steel prices to continue downward slope according to Meps Meps forecasts little change from last month. Transaction values for all products are expected to continue on their downward path in the short term. Distributors are unlikely to rebuild their inventories during the remainder of 2009 due to poor sales and year end financial constraints. A reduction in both alloy surcharges and basis numbers is anticipated over this period. The rising threat from imports will, almost certainly, force local mills to cut prices as they fight to retain market share. EU steelmakers may also decrease production in a bid to rebalance supply and demand. See Extended Story.. November 9th, 2009  - General Northbrook, Illinois - UL warns of communication cable with unauthorized UL Marks Underwriters Laboratories (UL) is notifying consumers, manufacturers, regulatory agencies and authorities having jurisdiction that the Communication Cable, identified below, bears an unauthorized UL Mark for the United States and Canada. This product has not been evaluated by UL to the appropriate standards for safety for the United States and Canada, and is not authorized to bear the UL Mark. It is unknown if this product complies with the United States or Canadian safety requirements. November 9th, 2009  - General Charlotte North Carolina - Prysmian plays major part International Wire And Cable Symposium (IWCS) Prysmian Cables & Systems will play a major role this week at the 58th International Wire and Cable Symposium (IWCS) being held in Charlotte NC, USA. The IWCS brings together the world's leading producers and users of cable in order to present and discuss the latest technological innovations and developments in the industry. This year Prysmian will present six technical papers covering a range of subjects. Two of the papers relate to optical fiber issues and look at fiber coating performance and macrobend loss in bend insensitive fibers - a critical parameter in today's access networks. Another paper stays on the theme of access/FTTH and describes the latest range of reduced size, high fibre count cables whilst a fourth paper - presented by Prysmian Brazil - looks at Optical Ground Wire (OPGW) technology. There will also be two papers in the poster session together with a Professional Development Course on polymer flame testing. In addition, during the conference 'Executive Track', Mr Brian DiLascia, Vice President and General Manager of Prysmian Communication Cables and Systems North America - will join a panel of other leading industry experts in a discussion on current key issues in the telecom cables business. Prysmian is pleased to support IWCS as a partner sponsor of this event which will run from November 8th to 11th at the Charlotte Convention Centre November 9th, 2009  - General North Dighton, Massachusetts - Draka Cableteq USA Awarded $3.2 Million Grant from DOE to develop next generation downhole cable Draka Cableteq USA, manufacturer of wire and cable products since 1905, announced today that it has received a $3.2 million grant from the United States Department of Energy to support the development of a new generation of tools that will allow Enhanced Geothermal Systems (EGS) to supply the United States with much clean, carbon-neutral electrical power. See Extended Story.. November 7th, 2009  - Product Releases Houston, TX, U.S.A. - Cable longevity and reliability at very low lifetime system cost with The Power of Dow Inside Long-lasting and reliable power cables that can help provide years of uninterrupted service, no matter what energy resource, are the lifeblood of utilities globally. Dow Wire & Cable, a business unit of The Dow Chemical Company, is excited to introduce the DOW ENDURANCE™ family of semiconductive and insulation materials for medium voltage (MV), high voltage (HV) and extra-high voltage (EHV) cable constructions that are made to last for decades of service. “Providing a cable that delivers longevity and reliability is essential in today’s global energy landscape,” says Tim Laughlin, General Manager, Dow Wire & Cable. “When it’s your job to keep the power on, we feel that the best way to obtain that is to specify cables made according to high quality standards with branded materials from supplier and cable manufacturer sources you can trust.” See Extended Story.. November 7th, 2009  - General London U.K. - MEPS forecast global steel prices to fall in December US transaction values for some products are a little higher than a month ago. However, the last round of proposals for higher prices do not appear to have been implemented, so far. Although October/November mill bookings are good for the available capacity, December is filling up very slowly. The steelmakers may start to offer discounts in order to solicit business before the year end, despite a lack of any real import competition. Distributors report that their sales have slowed dramatically in October, reflecting the poor state of consumption in most end-user sectors See Extended Story.. November 7th, 2009  - General Paris France - Nexans win 50 million Euro contract for the Lincs wind farm project. Nexans, a worldwide leader in the cable industry, has been awarded a 50 million Euro contract by Centrica to design, manufacture and supply the high voltage (HV) subsea power export cables for the Lincs wind farm project. The new wind farm is being constructed eight kilometres off the coast of England, to the east of Skegness in the county of Lincolnshire. The Lincs power export cable contract comprises the design, manufacture and supply of two 145 kV XLPE subsea power cables to be laid in parallel, each 50 km in length, that will connect the wind farm to the existing National Grid substation at Walpole, North Norfolk. See Extended Story.. November 7th, 2009  - General Hamilton Ontario - U.S. Steel recalls 63 workers. It sounds like good news but the Stelco Union sees the move as a bid to bypass severance payments for its Nanticoke employees. Labor relations have historically been bad at Stelco, a company that grew fat and complacent behind a tariff wall and where the Union resorted to extortion tactics to achieve contracts that were the envy of Canadian workers. Anyone that is familiar with steel making would agree the workers were worth every penny they made. The problem was not labor cost as nearby Dofasco paid the same salary and benefits. What made the wheels fall off the cart was the “them versus us” attitude between management and labor. As profit dwindled Stelco piled on debt. The Ontario government stepped in and bailed the bankers out. U.S. Steel saw an opportunity to acquire Stelco’s Lake Erie plant, one of North Americas most modern flat steel facilities built to supply the auto industry. Now US Steel are stuck with a plant they need like a hole in the head, legislation that calls for a costly severance package, and a Canadian government that expects US Steel to live up to its contractual obligation to keep the plant operating. The Hamilton spectator had an article this week that we would like to highlight. See Extended Story.. November 6th, 2009  - Acquisitions Leeds U.K. - KTS Wire buys rival in £3.1m deal A Yorkshire steel wire manufacturer has further boosted its business by acquiring one of its competitors. Morley-based KTS Wire received a cash injection of £3.1m to acquire Cheshire baling and steel wire producer John Pring & Son from administrators. The deal was funded by specialist Leeds-based turnaround and private equity house Frontline Investment Opportunities while the Leeds office of asset-based lender Davenham provided working capital funding. November 6th, 2009  - General Brantford Ontario - Speculators about to get burnt as copper inventory builds Concerns about the state of global demand for copper continue to persist, with worries about rising copper stocks and a fall in US consumer confidence underlining these fears. Global consumption for the red metal slipped 1.3 per cent in the first seven months of 2009 as compared to the corresponding period last year, the International Copper Study Group reported. The index of consumer confidence was recorded at 47.7 in October this year from 53.4 last month, the Conference Board, a business-backed research group, reported. Copper prices have more than doubled in 2009 on speculation that reviving economic growth will spur consumption. But as in the case of other metals, hopes are riding high on China which had surprised markets (with its 5th heaviest copper imports in September). November 6th, 2009  - General Milan Italy - New Zealand's antitrust body questions submarine cable market practices Italian cable maker Prysmian SpA said New Zealand's antitrust body had started an investigation to assess commercial practices in the submarine or underground high-voltage cable market. Prysmian, which operates in 38 countries, did not elaborate in the statement.On February 2, 2009, Prysmian said in a press release that the Australian antitrust authority commenced a legal proceeding aimed at assessing commercial practices in the submarine or underground high voltage cable market. November 6th, 2009  - General Milan Italy - Valerio Battista, Ceo of the Prysmian Group, elected President of International Cablemakers Federation (ICF) Valerio Battista, 52, CEO of the Prysmian Group, has been elected President of International Cablemakers Federation (ICF), the worldwide association of manufacturers of cables and systems for energy, data and telecommunications. The election took place at the Annual ICF Congress in Moscow (October 6th-9th). ICF was founded in 1990 with a permanent Secretariat in Vienna. Currently it has more than 100 members from 30 countries from regions all over the globe. Among the organisation’s main objectives are: the promotion of the use of cables in all sectors of application, the promotion of energy savings and increased safety, as well as the publishing of analysis and research regarding the industry. This year the ICF Congress covers some of the major strategic topics for the industry, from an insight into the Russian wire and cable market, to specific themes such as “Intelligent Energy Networks”, the impact and opportunities of environmental trends on the industry, worldwide trade agreements and developments in raw materials. High-ranking local and international speakers are presenting the various topics. The Congress was opened by a keynote speech of Igor Ivanov, former Foreign Minister of the Russian Federation. November 5th, 2009  - General Baghdad Iraq - Much work remains to be done in the development of Iraq’s telecommunications infrastructure The telecommunications sector in Iraq is widely considered to be a reconstruction success and a foundation of national stability. Today, a variety of services are available to every Iraqi citizen. While more than 10 million Iraqis have access to mobile phone services and Internet access provided by small private entrepreneurs is available throughout the country, the basic telecommunications infrastructure is still being repaired and rebuilt. Buried fiber optic infrastructure is being slowly but steadily extended throughout Iraq. Long-term plans for long-haul infrastructure envision a redundant series of large interconnected metropolitan ring networks covering the seven largest population centers in Iraq. These are being overlaid with three donor-funded microwave networks from the Turkish border to Basra and the Kuwaiti border in the south. Core infrastructure investment throughout Iraq remains uneven and focused in major cities. See Extended Story.. November 5th, 2009  - General Beijing China - Chinese steel mills rebound stalls on overcapacity created by the nation CNY 4 trillion stimulus spending. Baoshan Iron & Steel Co and Angang Steel Co are both posting the best quarterly profits in at least a year but are now facing slower growth as oversupply in the world largest steel producing nation put pressure on prices. Baoshan China’s largest mill said demand is easing amid rising pressure from overcapacity. Angang Steel Co said on October 27th that earnings this quarter will be less than net income in the past three months. Benchmark Chinese steel prices have fallen 21% from a 10 month high on August 4th as production overwhelmed demand fueled by the nation CNY 4 trillion stimulus spending. Steel output in China reached highs in four months this year spurring record imports of iron ore from producers such as Rio Tinto Group and Vale SA. See Extended Story.. November 5th, 2009  - General Washington D.C. - U.S. Manufacturing sector shows some spotty signs of recovery U.S. economic figures out earlier this week showed factories are revving up production and gearing up to start hiring again. In a surprise sign of strength, the U.S. manufacturing sector grew in October at its fastest pace since April 2006, says the Institute for Supply Management. The ISM’s gauge of manufacturing activity jumped to 55.7 from 52.6 in September, the third consecutive monthly reading above 50, the line that divides expansion from retrenchment. Also unexpectedly, hiring plans in the beleaguered sector turned positive for the first time in more than a year. The output boost comes after U.S. retailers, wholesalers and factories cut inventories at a record pace in the first half of the year. They’ve seen their stockpiles depleted further still as U.S. consumers have started opening up their wallets again. See Extended Story.. November 5th, 2009  - Projects Linz Austria - Zenith Steel expands rod mill capacity and product range with two new rod finishing lines. Zenith Steel (Changzhou Zhongtian Iron & Steel) in Changzhou, Jiangsu Province, People’s Republic of China, has signed multiple contracts for two rod mills for the company’s new rod mills that will be located in Changzhou. The contracts are valued at more than €10 million. After the new equipment’s installation, the mills for this privately-owned, midsized steelmaker will produce up to 150 tons per hour on each line. Each rod outlet will have the capability to produce plain rod (5.5mm to 20mm) and rebar (6mm to 16mm) products, which include carbon steels, cold heading steel, spring steel, welding wire, bearing steel, tire cord and PC strand steel grades. See Extended Story.. November 4th, 2009  - Projects Mumbai India - KEC to invest 1 bln rupees in new cable plant. Power transmission contractor KEC International, which approved merging RPG Cables with itself on Friday, plans to invest 1 billion rupees in 3 years to set up a new cable plant, a senior official said. The merger will lead to backward integration, wherein KEC will be able to consume the entire output of RPG Cables, Ramesh Chandak, KEC's managing director and chief executive officer, said at a press conference. "Merger will help in operational synergies and help us grow project management businesses," he said. RPG shareholders will get 1 share of KEC for every 20 held following the merger, which is expected to take effect from March 1, 2010. Merger would raise equity base of the company by 4.2 percent to 514.2 million rupees, reducing founders' share to 41.59 percent from 41.94 percent. KEC, which currently consumes cables products for project management businesses like distribution, telecom and railways, also wants to double RPG Cables current turnover that stood at 4 billion rupees, Chandak said. RPG Cables, with current accumulated losses of 1.5 billion rupees, has three plants in India. KEC's current year capex is 750 million rupees, he said. The capital expenditure, to be funded through a mix of internal accruals and debt, would go into project equipment, a tower-testing station and machinery in existing plants. November 4th, 2009  - Mergers Tulsa Oklahoma - Reel-O-Matic and Tulsa Power Merge Two leading U.S. manufacturers of reel handling equipment for processing and distributing cable, wire and other flexible materials have merged. Tulsa Power Holdings Corp and Reel-O-Matic Inc. will maintain manufacturing facilities in Oklahoma City and Tulsa, Oklahoma respectively. All key personnel will remain the same at each location, with Terry Simmons as president of Reel-O-Matic, and Mike Spence as CEO of Tulsa Power. See Extended Story.. November 4th, 2009  - General Milwaukee Wisconsin - Charter Wire makes its move to new 160,000-square-foot facility. Charter Wire, has nearly completed its move to the Menomonee Valley where it has a new 160,000-square-foot facility. The 73-year-old maker of steel products expects to be completely out of its old location, near Maier Festival Park, by December. Charter Wire's new location, in the Menomonee Valley Industrial Center, is a much easier place for a manufacturer to receive and send shipments of raw materials and finished products. "The whole area has been rejuvenated from the barren wasteland that was there for many years," said Tim Knepprath, project manager for MSI General Corp., the Oconomowoc contractor that designed and built Charter's new facility. Charter Wire is a division of Mequon-based Charter Manufacturing, which operates Wisconsin's only steel mill, in Saukville. The company has finished about two-thirds of its move from the Third Ward, where it operated a plant for more than 70 years. The new building, slightly smaller than the old one, is a more efficient workplace. As the company expanded, it had to make creative use of its space and design equipment to work around columns and corners. See Extended Story.. November 4th, 2009  - General Hong Kong - RUSAL in 1.68 million tonne China aluminium supply deal The world's top aluminium producer, Russia's UC RUSAL, has struck a contract to sell 1.68 million tonnes to Chinese state defence firm NORINCO in 2010-2016, the Russian firm said on Monday. A source at the Chinese firm, officially known as China North Industries Corporation (NORINCO), said the deal meant RUSAL would supply 20,000 tonnes of aluminium a month to Shanghai for sale on the spot market. He said pricing had yet to be finalised, although RUSAL denied this. "RUSAL and Norinco have agreed the price and all other terms and conditions of the aluminium delivery," the Russian firm said in a statement emailed to Reuters. RUSAL is urgently trying to reach agreement with foreign creditors on $7.3 billion of debt by mid-November to pave the way for a Hong Kong share listing that would help pay off debt, senior bankers said last week. See Extended Story.. November 3rd, 2009  - Projects Mumbai India - ArcelorMittal eyes new sites for steel plants The world’s largest steelmaker, ArcelorMittal, which registered a net profit of $ 903 million after posting losses for three consecutive quarters, said on Wednesday that it is looking at alternative sites in Orissa and Jharkhand for its steel projects. Lakshmi N Mittal, chairman and CEO, ArcelorMittal, during a conference call to announce the company’s third quarter results, said, “We being a global company, would not limit ourselves from exploring options in other states. However, as of now, we are focusing only on Orissa and Jharkhand.” When asked whether the company will look at other states like Karnataka and if talks were held with the state government, Mittal replied, “I wouldn’t know as the company’s officials in India would be dealing with it.” See Extended Story.. November 3rd, 2009  - Reports Mumbai India - Tata India a different story from Tata Corus The Indian operations of Tata Steel have shown a 25% jump in sales during August 2009 compared to the same period last year. Thus, compared to sales of 3.92 lakh tonne in August 2008, the steel major sold 4.92 lakh tonne during August this year. The company witnessed 81% increase in sales of long products in August this year, signalling that the construction sector, the main buyers of long products, was gradually gaining momentum. See Extended Story.. November 3rd, 2009  - General Johannesburg South Africa - ArcelorMittal to lower prices for one third of its product ArcelorMittal South Africa will lower the price for one third of its steel product products with effect from the start of next month, Sven Lunsche, an ArcelorMittal spokesperson, said on Friday. South Africa’s largest steel maker was cutting its prices in line with the direction of international steel prices as well as its forecast for the exchange rate between the rand and the US dollar during next month, he added. The price of two classes long steel, rebar and wire rod, will decline by 3.5 percent and plate, which is a flat steel product, will decline by 5 percent. “The price of other classes of steel will remain unchanged,” Lunsche said. November 3rd, 2009  - General Richmond Indiana - Belden expands its coverage of electrical distribution by adding Omni Cable as a a master redistributor of specialty wire and cable Belden a world leader in the development of signal transmission products for the industrial, building management, enterprise, broadcast, and security markets, announces a new partnership with Omni Cable, a master re-distributor of specialty wire and cable for electrical distribution. Andy Adams, President of the Industrial Solutions Division of Belden states, "Belden is able to supply our industrial customers with a complete solution of cabling, connectors and industrial Ethernet switches. Electrical distribution is key to delivering this solution to our customers. With over 30 years of experience fulfilling the product and service needs of their electrical distributors nationwide, Omni Cable is well positioned as a redistribution partner."Jeff Siegfried, CEO of Omni Cable, adds, "Omni Cable is proud to add Belden to its sales portfolio. This new partnership is sure to provide greater value to our customers since we will be able to supply our electrical distributors with high quality Belden cable, as well as the ability to support Belden's Complete Industrial Solutions." November 2nd, 2009  - General Helsinki Finland - Finland makes broadband Internet a legal right The government of Finland has passed a law that will guarantee all citizens be legally entitled to a minimum broadband connection speed of one megabit per second, according to media reports Thursday. The Daily Telegraph reports the Finnish government has committed to rolling out 100 megabits per second broadband connections across the country by 2015. It’s the first country in the world to make universal minimum Internet access speeds a legal requirement. Telecoms companies across Finland will have to start rolling out high-speed services to all locations, the Telegraph said. Finland, which has a population of around 5.2 million, is already one of the most connected countries in the world, with 95% of citizens already hooked up to some form of Internet connection, the Telegraph said. Finland is the first country to pass a law making guaranteed web access a human right. November 2nd, 2009  - General London U.K. - MEPS sees African steel industry emerging from recession Steel consultancy MEPS said that the African steel industry would emerge from the global economic downturn with only limited damage. Releasing its forecast for the year, MEPS said that mill output in 2009 was likely to decline by 2 million tonnes on the outturn last year to just above 15 million tonnes. This represented a reduction of 11.6%. By comparison, global steel production is expected to be 1.2 billion tonnes this year, a 9.5% reduction on the outturn in the previous 12 month period but still significantly above predictions by most pundits earlier in the year.MEPS said that "This indicates that scrap-based electric melting will turn out to be the main casualty in the supply of steel over the year. The steel sectors in most industrialized nations have been badly hit by the economic crisis." Source SteelGuru November 2nd, 2009  - Acquisitions Taipei Taiwan - Chunghwa Telecom mulls investment opportunities in Taiwan, and abroad Chunghwa Telecom Co. President Shaio-tung Chang said Wednesday the company is evaluating investment opportunities either in Taiwan or abroad, but he didn't say whether it is in talks to acquire Asia Pacific Telecom Group, a small broadband and mobile services provider. "Chunghwa monitors the market closely and is looking for investment opportunities, either domestically or internationally," Chang said in an emailed reply to a Dow Jones query, after a Commercial Times report cited Minister of Transportation and Communications Mao Chi-Kuo as saying Chunghwa Telecom is considering buying a stake in Asia Pacific Telecom. The paper also cited unnamed industry sources as saying Chunghwa Telecom, Taiwan's largest phone services provider by revenue, plans to invest NT$10 billion in Asia Pacific Telecom and take over its management. The transportation and communications ministry is Chunghwa Telecom's largest shareholder, with a 35.3% stake. November 2nd, 2009  - Projects Jamshedpur India - Wire rod mill also part of Jindal Steel Patratu greenfield unit Jindal Steel & Power Ltd (JSPL) which is setting up a 6 million tonne per annum (mtpa) greenfield unit in two phases of 3 mtpa each at Patratu in Hazaribagh district of Jharkhand at an estimated investment of Rs 18,000 crore has started acquiring land for the project. JSPL had acquired the closed plant of Bihar Alloy Steel Ltd (BASL) located at around 550 acre to start setting up the steel plant and needs a total of around 2,500 acre land for the entire project. “We are engaged in direct purchase of land for the project and have already acquired around 600 acre,” said SP Sharan, deputy general manager (corporate affairs). The company is also setting up a wire rod unit of 0.6 mtpa capacity at the site. “The wire rod mill which was to commence production in October would now go on stream in December (2009),” said Sharan October 31st, 2009  - General Pretoria South Africa - Meshco wants special treatment Allens Meshco, one of the biggest manufacturers of steel wire and wire products in South Africa is requesting exemption from the Competition Act. But the company has already been accused of contravening the act. Keith Weeks, head of law enforcement and exemptions at the Competition Commission, says the application will be handled as objectively and quickly as possible. The application is for exemption enabling Allens-Meshco to discuss prices and exports relating to wire products and prices, as well as prices, profit margins and vertical agreements with Cape Gate, Consolidated Wire Industries, ArcelorMittal SA and Scaw South Africa. Mittal has a 49% stake in Consolidated Wire Industries and Scaw is apparently responsible for managing the company. See Extended Story.. October 31st, 2009  - Projects Havana Cuba - Cuba wary of first US-Cuba fiber line A top Cuban communications official said Monday that the communist government is wary of a Miami company's plan to run a fiber optic cable to the island and it hasn't yet even been asked for permission. TeleCuba Communications Inc. announced on Oct. 13 that it had received U.S. Treasury Department approval to lay about 110 miles (175 kilometers) of cable from Florida to Cuban territory -- seemingly a significant dent in the U.S. embargo against the island. But Francisco Hartmann, director of strategy for Cuba's national Office of Information, said his government has "no official knowledge that there is interest to negotiate" such a project, and he indicated they may frown on it if asked. "If all the information that we have passes by cable to Florida, that technological independence, the sovereignty that for us is so important, what will happen to it?" he asked at a news conference. TeleCuba said the cable, following the route of a defunct 1950s copper telephone cable from Key West, Florida, to the Havana suburb of Cojimar could be operational by the middle of 2011. See Extended Story.. October 31st, 2009  - General Nairobi Kenya - Low literacy and lack of PCs hamper internet access. Telecom firms which have invested heavily in the Internet business in anticipation of a connection frenzy following the landing of two undersea fibre optic cables in Kenya might have to shelve their profit targets for now. New research data suggests that the growth of the Internet will depend on literacy levels and availability of communication gadgets. "The development of data services will largely depend on growth of PC penetration and high-end handsets," says the survey by Renaissance Capital and Synovate. This comes against the background of heavy investment in fibre optic cables by telecommunications operators and the government. See Extended Story.. October 30th, 2009  - Projects Paris France - Nexans wins a 6 million Euros ice-resistant cable contract from Sevmash to equip an oil production platform in the Barents Sea Nexans, a worldwide leader in the cable industry, has been awarded a contract worth around 6 million Euros by Sevmash, Russia’s largest shipbuilding company, to develop, manufacture and supply low-temperature and ice-resistant control, instrumentation and power cables for the marine ice-protected Prirazlomnaya stationary oil production platform in the Barents Sea. The Prirazlomnya platform has been constructed specially for the development of the Prirazlomnoye oil field and is the first oil production project on the Russian Arctic shelf. This area is characterized by extremely low temperatures and high ice loads. It is ice-free for only 110 days a year, the annual average temperature is -4ºC and winter temperatures can fall as low as -50ºC. The severe climate and harsh operating conditions presented by the high ice loads require unique marine cable technologies to provide the optimum combination of low-temperature resistance and fire resistant, low smoke halogen free properties. See Extended Story.. October 30th, 2009  - General Calcutta India - Usha Martin on expansion path. Steel wire rope maker Usha Martin expects January-March revenue at 9-9.5 billion rupees on higher production, managing director Rajeev Jhawar said on Wednesday. The company's current steel production is at 80,000 tonnes per quarter and it would rise to 140,000 tonnes per quarter from the fourth quarter of the current fiscal, he said. "From the fourth quarter, results would perk up in terms of revenue generation and profitability as the new capacities would be commissioned," he said. The company is expected to complete most of its 21 billion rupees capital investment program by March 2010, and boost annual steel capacity to around 560,000 tonnes from 320,000 tonnes, he said. See Extended Story.. October 30th, 2009  - Projects Nuremberg Germany - Leoni obtains first order from Nissan Leoni, a leading provider of cable systems to the European automotive sector and other industries, has won its first project for a Japanese car manufacturer: Beginning end of 2010, Leoni will supply cable harnesses for the Nissan X-Trail to be produced locally for the Russian market. The contract amounts to a double-digit million Euro volume per year. See Extended Story.. October 30th, 2009  - Market Stats London U.K. - MEPS sees EU average steel price down by 2 pct in October MEPS said that an ongoing lack of end user demand is creating negative price pressure in the EU market. Restocking by the distributors caused a brief, temporary upturn in mill sales during the third quarter. This has now come to an end. Moreover, market players are concerned that the current level of consumption is not high enough to justify restarting so much previously idled capacity. Basis values have already weakened in several countries and buyers are anticipating further discounts in period one 2010. It added that "Despite reports by politicians and the media to the contrary, German steel market players can see no real improvement in the economic situation. The mills were talking of higher prices for the final trimester but, in fact, some spot values are softening. Customers are not ordering large quantities of third country imports because they are not confident about market developments in the intervening three months it takes for delivery." See Extended Story.. October 29th, 2009  - Market Stats Geneva, Switzerland - A devastating fourth quarter in 2008 but signs of improvement WTO yesterday published the latest annual compilation of international trade statistics The 2009 edition of the WTO’s International Trade Statistics, gives a comprehensive overview of world trade up to 2008, was published in electronic format on 28 October 2009 and will be available in print in November. The reports notes that: Up until the third quarter of 2008, exports of all product categories continued to experience the high growth that started back in 2003. In the fourth quarter of 2008, however, practically all product categories registered abrupt declines, which worsened in the early months of 2009. World exports of non-ferrous metals, automotive products and integrated circuits were hardest hit. However, initial data indicate a bottoming-out of the crisis in the second quarter of 2009. Despite the sudden and sharp downturn in the fourth quarter of 2008, the year still ended with an annual average growth of 33 per cent for exports of fuels and mining products (compared with 15.1 per cent in 2007), growth of 18.9 per cent for agriculture (19.8 per cent in 2007), and a relatively low growth rate (9.9 per cent) for manufactures (15.3 per cent in 2007). Severe price adjustments have taken place during the recession Primary commodities Overall, exports of primary commodities went up by 28.8 per cent in value terms in 2008, far exceeding the 2007 increase (16.5 per cent). This gain came as a result of record increases in the prices of fuels and food in the fi rst three quarters of 2008 – products which jointly accounted for 82 per cent of world trade in primary commodities. During the fourth quarter of 2008, the economic slowdown led to a decline in the export value of primary commodities. This decline increased in the first quarter of 2009. To read the report use use this link October 29th, 2009  - Market Stats Brantford Ontario - No relief in sight for European and North American Steel makers Steelmakers have been swimming in red ink for the past year and there is little indication that many of the producers in the developed world will be back in the black soon, analysts say. The world's largest steel producer, ArcelorMittal is expected to post a fourth consecutive quarterly loss on Wednesday, days after U.S. Steel posted a third straight quarterly loss and Japan's JFE Holdings said the market was too fragile to update its own earnings outlook. In contrast, steelmakers in India and China are booming as industrial activity in the developing world has surged back after the economic downturn last year dried up demand. In Europe, North America and the developed economies of Japan and Korea, steelmakers are only slowly increasing production that some of them cut by more than half a year ago. Although they are finally selling some steel again, it is mostly to replenish stockpiles of service centers -- middlemen who process the metal for specific customer needs. Dan DiMicco, chief executive of Nucor Corp, which posted a third consecutive quarterly loss last week, was blunt. "There has been no meaningful real improvement in end-use demand." Eurofer President Wolfgang Eder also struck a downbeat note, with fears China could damage the delicate stabilization in the market by ramping up exports as domestic demand slows. Eurofer's report said weak activity in Europe's steel sector had brought a slump in demand as consumption fell 45 percent year-on-year in the first half of 2009 and by almost 32 percent in the third quarter. "Overall it is on very, very thin ice. We fear that there will be huge exports out of China in the first half of the year," Eder said. October 29th, 2009  - General Washington D.C. - US sets preliminary duties on China steel wire strand U.S. Commerce Department said on Tuesday it has set preliminary duties on imports of concrete steel wire strand and steel grating from China to offset government subsidies. The duties range from 7.53 percent to 12.06 percent on the steel wire strand and 7.44 percent on the steel grating, the Commerce Department said. Imports of the wire strand have risen to $178 million in 2008, from $112 million in 2006. Imports of the steel grating have risen to nearly $91 million in 2008 from close to $9 million in 2006, the Commerce Department said. The determination comes shortly before U.S. officials meet counterparts in China for the 20th meeting of a joint U.S.-China trade commission, the main bilateral forum for addressing trade and investment matters. Commerce said it would issue its final determination in January on whether China exports to the United States of pre-stressed concrete steel wire strand from China violate U.S. trade laws. October 29th, 2009  - General Seoul, South Korea - Chinese wire and re-bar prices forces Hyundai to drop November prices South Korea's Hyundai Steel will lower steel product prices by up to 6.8 percent from November, expecting rising imports of lower-priced steel products from China, the firm said in a statement on Wednesday. The move came after the country's second-largest steelmaker in late August raised steel prices by up to 6.9 percent in its first increase in a year to reflect rising global steel and raw material prices. Prices of rebar will fall by 6.5 percent or 50,000 won ($41.91) a tonne to 721,000 won and H-beam prices will also fall, by 5.5 percent, or 50,000 won, to 860,000 won. Prices of hot-rolled steel will decline by 6.8 percent, or 50,000 won, to 690,000 won per tonne. "The adjustment can be attributed to falls in steel scrap prices and import prices," Hyundai Steel said in the statement, adding that rebar was imported at $560-$590 per tonne this month. "It is expected there will be rising inflows of lower-price steel imports along with falls in Chinese local steel prices." Its bigger rival POSCO, the world's No.4 steelmaker, which made a surprise 20 percent price reduction in May and has yet to announce a similar move, is selling hot-rolled steel at a cheaper 680,000 won a tonne. A Posco spokeswoman said on Wednesday it had no plans yet to adjust its sales price. POSCO said it would also maintain its November stainless steel prices at this month's levels, expecting domestic demand to pick up slightly up next month for restocking. October 28th, 2009  - Market Stats Boston Massachusetts - Copper to continue to dominate the structured cabling systems market For some time, it has been expected that fiber cabling would displace or at least make inroads on copper for the structured cabling systems market. It has been anticipated that fiber cabling’s superior performance (bandwidth) would be needed in place of copper cabling’s limited performance. Every time, the market has increased its requirements, from 1 Mbps, to 10 Mbps, to 100 Mbps, to 1 Gbps and now to 10 Gbps, it was expected that fiber cabling would be needed. But every time, copper cabling has increased its performance to satisfy the higher bandwidth requirements. At the same time, fiber cabling has not only increased its performance levels, but has also decreased its price, with new technology innovations, such as less costly VCSELs. At one time, fiber-to-the-desk (FTTD) was the holy grail of fiber cabling. This also has been a false start, as FTTD has evolved to a niche application not required in most of the enterprises’ networks. The question is what happens next? Copper cabling, presumably, has reached its limit, at support of 10 Gbps over 100 meters. At the same time, fiber cabling has continued to increase its performance, with OM 3 fibers supporting 10 Gbps for 300 meters and with newer technology OM 4 fibers promising even higher performance for support of future 40 and 100 Gbps over extended distances. See Extended Story.. October 28th, 2009  - Market Stats Shanghai China - Prices rise, inventory decreases in China’s longs market Given the strong rise observed in the steel futures market, China's domestic long product prices began to rebound in the past week. Meanwhile, end-side buyers accelerated their purchasing activities, leading to an obvious increase in the overall trading volume, with market inventory registering a remarkable decrease at the same time.Following the price ascension in eastern China, a certain release was observed in market demand during the past week, contributing to the relatively active trading performance on the whole. Coming up to the end of the week, the long products market gradually became stable, while a weakening was seen in levels of commercial activity as many players adopted a wait-and-see stance. As regards inventory levels, rebar inventory in the Shanghai market totaled 277,600 mt, down 16,570 mt week on week, while wire rod inventory amounted to 98,870 mt, a decline of 7,040 mt compared with the previous week. See Extended Story.. October 28th, 2009  - Reports Hickory North Carolina - CommScope 3rd Q 2009 sales down 25% from 3rd Q 2008. CommScope, Inc, a global leader in infrastructure solutions for communications networks, reported sales of $750.4 million and net income of $45.8 million, for the quarter ended September 30, 2009. The reported quarterly net income includes after-tax charges of approximately $15.3 million for the amortization of purchased intangibles and $2.2 million in restructuring costs. Excluding these special items, adjusted third quarter 2009 earnings were $63.3 million. For the third quarter of 2008, CommScope reported net sales of $1.06 billion and net income of $84.7 million. The reported net income included approximately $9.7 million of net after-tax charges primarily related to the amortization of purchased intangibles somewhat offset by the benefit of aligning certain CommScope and Andrew employee benefit policies and a tax item. See Extended Story.. October 28th, 2009  - General Georgetown South Carolina - Longer wait for steel mill reopening in Georgetown The watching and waiting for the buzz of activity to resume at the ArcelorMittal's Georgetown steel mill will likely have to wait until 2011, according to one official. United Steelworkers Union Local President 7898 James Sanderson said he got a call Friday from a corporate official to tell him, "Because of deteriorating market conditions our plant will not open up this year, and it probably won't open up until 2011." ArcelorMittal spokesman Adam Warrington did not confirm the dates, but did release the following statement on Monday: "ArcelorMittal has indefinitely ceased operations at the company's Georgetown facility, which will continue unless market conditions appreciably improve or the plant is put on a more competitive footing," he said. The Georgetown mill makes wire rod used in cars, bed springs, car seats and welding. See Extended Story.. October 27th, 2009  - Reports Highland Heights Kentucky - General Cable reports income drop General Cable, a global wire and cable maker, said Monday its third quarter net income dipped to $16.4 million, or 31 cents per share, compared to a year ago when the firm reported net income of $50.5 million, or 94 cents per share. The firm said net sales for the quarter were roughly $1.08 billion, a 25.1 percent decrease from $1.6 billion reported in the third quarter of 2008. Operating income before certain items was $49.4 million compared to $121.4 million in the third quarter of 2008, a decrease of $72 million or 59.3 percent. The decrease in operating income was principally the result of a significant decline in prices in response to lower overall demand in many of the company’s end markets, lower capacity utilization, and the unfavorable impact of changes in foreign currency translation, partially offset by lower selling, general and administrative expenses resulting from continuous cost improvement efforts. See Extended Story.. October 27th, 2009  - Market Stats Brussels Belgium - World steel output nearly back to pre crisis levels World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 107 million metric tons (mmt) in September. This is -0.6% lower than September 2008. World total crude steel production month-on-month has continued to show a steady increase since April 2009. China’s crude steel production for September 2009 was 50.7 mmt, 28.7% higher than September 2008. Elsewhere in Asia, Japan produced 8.3 mmt of crude steel in September 2009, down by -18% compared to the same month last year. South Korea showed a decline of -2.4% from September 2008, producing 4.4 mmt of crude steel in September 2009. See Extended Story.. October 27th, 2009  - General Columbia Falls Montana - How they are turning off the lights in America (“A letter to the editor”) On October 31, 2009, the once largest aluminum plant in the world will shut down. With it goes another American industry and more American jobs. The Columbia Falls Aluminum Company in Montana will shut down its aluminum production because it cannot purchase the necessary electrical power to continue its operations. How did this happen in America? America was once the envy of the world in its industrial capability. America's industrial capacity built America into the most productive nation the world had ever known. Its standard of living rose to levels never before accomplished. Its currency became valuable and powerful, allowing Americans to purchase imported goods at relatively cheap prices. America grew because of innovation and hard work by the pioneers of the industrial revolution, and because America has vast natural resources. A great economy, as America once was, is founded on the ability to produce electrical energy at low cost. This ability has been extinguished. Why? Columbia Falls Aluminum negotiated a contract with Bonneville Power Administration in 2006 for Bonneville to supply electrical power until September 30, 2011. But, responding to lawsuits, the 9th US Circuit Court ruled the contract was invalid because it was incompatible with the Northwest Power Act. Therefore, the combination of the Northwest Power Act and a US Circuit Court were the final villains that caused the shutdown of Columbia Falls Aluminum. See Extended Story.. October 27th, 2009  - Projects Mönchengladbach, Germany - Tianjin pipe commissions new wire rod mill ITA reported that in July 2009, the Chinese copper wire producer TCICO, Tianjin of China commissioned its second CONTIROD CR 3500 continuous copper wire rod plant. The plant with an annual capacity of 150,000 tonnes of rolled wire rod was supplied and erected by SMS Meer, Mönchengladbach, Germany. SMS Meer supplied the entire technical equipment for this plant which was commissioned within just 17 months after signing of the contract. The new CONTIROD plant was installed in the immediate vicinity of the first line that was commissioned in 2001. It has a casting capacity of 25 tonnes per hour with a casting cross section of 5,400 square millimeters and a casting speed of approximately 10 meters per minute. The standard finished size is 8.0 millimeters diameter. See Extended Story.. October 26th, 2009  - Projects Colombo Sri Lanka - Sri Lanka cable maker expands to meet post-war demand Cable manufacturer Alucop Cables, a fully-owned unit of the listed Sierra Cables, said it was getting new machinery and expanding production to meet the anticipated increase in demand in post-war Sri Lanka. It said in a stock exchange filing that it forecast more demand for cables in the north and east where much of the infrastructure was either destroyed or neglected by war. The firm also said it launched aerial bundle conductors (ABC) which it said were better than traditional cables. ABC has relative immunity to short-circuits caused by external forces such as wind or falling branches, reduced transmission losses and simpler installation, Alucop said. ABC are overhead power lines which use insulated conductors bundled tightly together in contrast with the traditional practice of un-insulated conductors separated by air gaps, the company said. See Extended Story.. October 26th, 2009  - Market Stats Beijing China - September.stainless steel production from China's major steel mills totaled 522,670 tons. Stainless steel production from major steel mills national wide totaled 522,670 tons in September. The major steel mills national wide include TISCO, Tianjin Stainless Tube, Baosteel, Baoxin Steel, POSCO in Zhang Jiagang, Lianzhong Stainless Steel in Guangzhou, JISCO, SKS, Taishan Steel. The production from domestic steel mills with large steelmaking capacity stood at 515,670 tons, of which 400 series accounted for 198,210 tons, 300 series 242,580 tons and 74,880 tons for 200 series. October 26th, 2009  - Projects Mumbai India - KEC to improve power transmission network in Saudi Arabia and Chad KEC International, engaged in the power transmission, engineering, procurement and construction business, has won orders, worth INR4.7 billion, to design and build power transmission lines in Saudi Arabia and Chad. In Saudi Arabia, the company has won two orders totaling to INR4 billion. The scope of the orders includes survey, design, engineering, planning, construction, erection, testing and commissioning of 163km of 380kV DC transmission line to be executed in Riyadh. This order is worth INR3 billion and was secured from the Saudi Electricity Company. The company has also won an order in Saudi Arabia to build 69km of 132kV transmission line between two substations, and 37km of 33kV transmission line on steel poles to be executed in Najran. The order is worth INR1 billion and was secured from the Ministry of Water and Electricity of Saudi Arabia. These orders will be executed through the Saudi joint venture of the company. In Chad, the company has won an order worth INR0.7 billion for rehabilitation, reinforcement and extension of the electricity distribution network for the city of N'djamena. Execution of the order will be done through the wholly owned Middle East subsidiary of the company. October 26th, 2009  - Projects Ottawa Ontario - Power project clears “not in my back yard” hurdle Three southern Alberta landowners have lost a bid to bring a fight against a major international power transmission line to the Supreme Court. Tonbridge Power Inc., the developer of the $213-million Montana-Alberta Tie Line, or MATL, said Friday that Canada's highest court has decided against hearing an appeal by the landowners. "We're excited about getting on with the development of this project," said Bob Williams, with Calgary-based MATL, a subsidiary of Tonbridge. "We hope to start construction in December, with commerciality by the beginning of 2011." With the last legal issue now resolved, the merchant transmission developer said construction work on the 230-kilovolt line will begin shortly on both sides of the border, but noted agreements still need to be signed with the bulk of 360 landowners on the route. A number of the Alberta landowners were holding back from discussions with MATL until the top court decision was handed down, Williams said. "Now it's time to sit down and work through the issues," he said. "Our goal is to negotiate 100 per cent of the agreements." See Extended Story.. October 24th, 2009  - Market Stats Tokyo Japan - Japanese September copper cable shipments down 17% y/y Japanese copper wire and cable shipments fell by over 17 percent in September from a year earlier, extending a year-on-year decline into the 12th straight month due to a lack of strong demand from the construction sector. The country's demand for copper, used in areas such as electronics and automobiles, tumbled from late last year due to the economic downturn. Shipments amounted to an estimated 57,800 tonnes last month, down 17.4 percent from a year earlier, although they were up 14 percent from August, data from the Japanese Electric Wire and Cable Makers' Association showed on Friday. See Extended Story.. October 24th, 2009  - Projects Kobe Japan - Kobe Steel to improve the wire rod output in China Japan's Kobe Steel Ltd. is planning to increase the spring material output for automobile in China. In a bid to satisfy the rising demand in suspension spring of auto manufacturing industry in Japan, Kobe Steel would improve the production of a wire rod mill in Guangdong Province. It is noted that the aforesaid mill named Kobe Wire Rod Processing (Foshan) is co-financed by Kobe Steel, MetalOne and Shaft, mainly involving the production and sales of suspension spring as well as CR bar and cold heading wire used in high-strength screw. October 24th, 2009  - Market Stats London U.K. - 24 Base metals surge, copper gains 3% at $6660.25 on demand from speculators. LME inventory rise as industrial demand slow Copper price surged this past week reaching a 13- month high Tuesday earning gains of more than 3% from its previous session, as weakening trend on the green back and major economic news from Australia, provided substantial support on major traded base metals. The copper reached a high of $6665 highest since September 25th 2008 and settled at $6660.25 an increase of more than $250 from its previous session. The steps taken by BHP Billiton to declare ‘Force Majeure’ on Australia’s Olympic Dam which was crippled by a runaway skip that took out its Clark Shaft operation, the largest in the country. Copper supply may be reduced as the operations came to a complete halt affecting the supply to about 70,000 tons. The prices rose also due to weakening US currency, as the greenback fell again at a month-low. Also providing support were the stockpiles at LME warehouses showing an increase of 360,000 tons as on OCT.21, higher by 50% since mid-July. Zinc touched $2,184 a tonne on the LME, its highest level since late May last year. See Extended Story.. October 24th, 2009  - Reports Mount Airy North Carolina - Insteel Industries reports improved 4th Q and Fiscal Year 2009 financial results Insteel Industries, Inc. this past week reported earnings from continuing operations of $2.8 million for the fourth quarter of fiscal 2009 compared with a loss from continuing operations of $1.7 million in the third quarter of fiscal 2009. Earnings from continuing operations in the fourth quarter of fiscal 2008 were $15.6 million. Including the results of discontinued operations, net earnings for the fourth quarter of fiscal 2009 were $1.7 million compared with a net loss of $1.7 million in the third quarter of fiscal 2009. The loss from discontinued operations for the fourth quarter of fiscal 2009 reflects a $1.8 million impairment charge ($1.1 million after-tax) to write down the carrying value of the real estate held for sale associated with the industrial wire business, which the Company exited in 2006. Net earnings in the fourth quarter of fiscal 2008 were $15.7 million. Net sales for the fourth quarter of fiscal 2009 ($61.1 million) increased 7.2% compared with the third quarter of fiscal 2009 ($57.0 million) and decreased 42.5% from the fourth quarter of fiscal 2008 ($106.3 million). Shipments increased 16.4% from the third quarter of fiscal 2009 and decreased 4.4% from the fourth quarter of fiscal 2008. Average selling prices decreased 7.9% from the third quarter of fiscal 2009 and 39.9% from the fourth quarter of fiscal 2008. See Extended Story.. October 23rd, 2009  - Projects Port Kembla Australia - MMK future looks positive: millions to be spent on machinery Port Kembla copper manufacturer MM Kembla will invest in $11.6 million worth of new machinery, signalling its plans to continue its Illawarra operations long-term. The company presently leases older versions of the equipment, a copper billet caster and furnace, on an adjacent site owned by Japanese company Furukawa. But the lease is expiring and Furukawa plan to demolish the equipment and remediate the site for sale. MM Kembla's board has approved the company's contribution of the majority of the funds for the new billet caster and furnace, while the State Government announced yesterday it will fund the balance. The office of State Development minister Ian Macdonald declined to reveal the amount to be contributed by the Government through its Industry and Investment program, for reasons of commercial confidentiality. "The new billet caster will allow MMK to produce billets for copper tube manufacturing and to also recycle scrap copper," Mr Macdonald said. "This project will retain 199 direct existing jobs at MMK and bring $11.6 million in new investment to Port Kembla. MM Kembla employs 199 people in the tube mill which utilises the machinery. Another 100 are employed in its rod and wire division at Port Kembla. See Extended Story.. October 23rd, 2009  - General Stuttgart Germany - Fastener Fair Stuttgart 2009 pronounced success The largest dedicated fastener and fixing exhibition ever to be held in Europe, took place over two days in October. A record breaking 625 exhibitors, a 43% increase on the 2007 show, packed the two 10,000 square metre halls, to provide a stunning backdrop for the biggest gathering of fastener professionals in Europe. “The hefty increases in both exhibitors and attendees, amidst still challenging economic conditions, shows the resilience of the fastener and fixing sector,” says Organiser Jerry Ramsdale. “It also shows the unique opportunity Fastener Fair Stuttgart presented to re-establish key trade links across the global fastener market.” See Extended Story.. October 23rd, 2009  - Reports Paris France - Nexans 3rd Q sales down 18.9% Nexans announced Thursday 2009 third-quarter sales of 1,267 million euros (at current non-ferrous metal prices), 988 million euros at constant non-ferrous metal prices*, which correspond to an organic decrease in cable business sales of 18.9%. For the first nine months of the year, the organic drop in cable business sales is a negative 17.2%**, compared with a negative 16.4% at the end of the first half. This deterioration is attributable to the combined effect of an ongoing sharp base effect (sales at September 30, 2008: + 7.2%) and a slight intrinsic deterioration in the third quarter 2009 compared with the second quarter of the same year. This situation was compounded by a slight decline in building cable sales in Europe and Asia-Pacific coupled with a temporary setback in the execution of High Voltage contracts, which should be absorbed by the end of the year.For full press release use this link October 23rd, 2009  - General Minsk Belarus - Belarus steel pipe and wire rod production sharply down in first 9 month 2009 According to the data released by Belarus' National Statistical Committee, in January to September 2009 the country crude steel production down by 6.3%YoY to 1.9 million tonnes and a 3.4% drop in its finished steel product output to 1.8 million tonnes. Some products like steel pipe down by 37.5%YoY to 76,500 tonnes, wire rod down by 44%YoY to 37,700 tonnes and steel cord down by 30%YoY respectively to 50,800 tonnes. As of October 1st 2009, Belarus' steelmakers have accumulated 4,700 tonnes of steel pipes in their warehouses which is 77.1% of their average monthly pipe production volume. Compared to October 1st 2008, the producers steel pipe reserves have increased by 91.7 percent. Meanwhile, steelmakers' reserves of wire rod have increased by 6.7 times YoY to 3,000 tonnes which is 15.9% of their average monthly wire rod output volume. The total volume of steel products accumulated in the warehouses of local steelmakers amounts to Belarus RUB 107.1 billion.

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