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wiredInUSA - April 2014
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Data from the Kazakhstan state statistics
agency reveal that output of refined
copper from the country fell by 22.9
percent to 44,363 tonnes during January
and February, compared with the
same months 2013, while crude steel
production surged by 36.6 percent to
593,682 tonnes.
Elsewhere, the Zambia government is
concerned that if copper prices (already
near a four-year low at $6,300 per tonne)
fall below $5,000, then the viability of
Zambian mines will be under threat.
Zambia produced 915,773 tonnes of
copper between JanuaryandNovember
2013, up from 755,359 tonnes in the same
period of 2012.
Copper exportsare important toZambia’s
hard currency, and falling prices have
recently brought down the local kwacha
currency by almost ten percent.
Copper markets have slumped following
concerns over slowing Chinese demand
for the metal, and fears that credit
upheaval in China could unwind financing
deals using the metal as collateral. This
could cause a flood of copper into the
market. There is estimated to be bonded
copper stocks of around 750,000 tonnes
in China.
Copper news
China’s Ossen Innovation Co Ltd has
announced that its Jiujiang subsidiary,
Ossen (Jiujiang) Steel Wire & Cable Co Ltd,
has been honored by the Jiangxi provincial
government as an “Innovative Enterprise”
in the province.
In addition, Ossen (Jiujiang) Steel Wire &
Cable Co Ltd was recognized as a “First
Class Export Enterprise” by the same Jiangxi
government agency.
“Ossen is very pleased to receive these
additional acknowledgments,” said Dr
Liang Tang, chairman of Ossen Innovation.
“We are grateful that our manufacturing
operations continue to be recognized
as producing important and pioneering
infrastructure solutions for use in China and
abroad,” he concluded.
Ossen Group manufactures and exports
PC wire, PC strand, galvanized PC wire,
galvanized PC strand and PC indented
wire and is a major trader in wire rod. The
group’s manufacturers Ossen (Maanshan)
Steel Wire & Cable Co Ltd and Ossen
(Jiujiang) Steel Wire & Cable Co Ltd have
three PC strand production lines, four
drawingmachines, two PCwire stablization
lines, a galvanizing line and an unbonded
PC strand processing line. Total capacity is
around 100,000 tonnes.
“Innovative Enterprise”