WiredInUSA-December2015

Shanghai steel futures fell to a record low in mid-November, deepening losses for producers as consumption continues to shrink in China. Industry group China Iron and Steel Association Steel said consumption in China dropped 5.7 percent to 590.47 million tonnes in the period January to October, as the slowing economy continues to dampen industrial activity. Chinese steel mills are limiting stocks of iron ore in response to weak demand, with many producers facing losses that are forcing them to either cut output or close operations. Rebar, the most traded construction steel product, fell to an all-time low of $275 a tonne on the Shanghai Futures Exchange. Stocks of iron ore at Chinese ports continue to rise, with weekly inventory up 550,000 tonnes to 86.55 million tonnes in mid-November, the highest since May 2015, based on data compiled by the consultancy SteelHome. Chinese steel demand still falling

Hangzhou expansion

Lorom Europe has announced the construction of a new manufacturing facility, scheduled for completion by the end of 2015 and in full production in early 2016. The new 360,000ft 2 facility is an addition to Lorom’s newest factory complex in the suburban area of Hangzhou, Qian-Nong, China. Lorom will implement its EMAXX ® high-speed datacenter cable assemblies in this facility, as well as other high end products. “With [the] introduction of new product technology for 100G datacenter application, our automated assembly lines in [a] semi-clean manufacturing environment will be a major differentiator…to our customers,” said Patrick Lawrence senior, VP of Lorom. Y T Yuan, CEO of Lorom, added: “As we expand, and grow our high end datacenter business, establishing a world class facility is an important milestone in our effort in becoming a global market leader.”

wiredInUSA - December 2015

38