SWCC Showa Cable Systems announced on Monday the firm established copper wire rod making joint venture in China to supply the conductor for electric wire. The firm has 50% share in the joint venture with 50 million yuan of capital while the partner of Futong Group. SWCC Showa Cable Systems provides the technology of original dip forming process to make oxygen free copper wire to local magnet wire makers. The joint venture starts operation in September targeting annual 30,000 tonnes shipment in 2012.
SWCC Showa Holdings group has already has joint venture with Chinese major communication cable maker, Futong Group in optical cable and electric wire for appliances. The new joint venture utilizes Futong Group’s existing plant with 19,000 square meters of floor space in Fuyang, Zhejiang and purchases around 200 million yen of facilities including dip forming process from Futong Group’s existing plant in Hangzhou. The new joint venture with monthly just more than 3,000 tonnes of output capacity targets 30,000 tonnes of shipment in 2012 through technology and knowhow of SWCC Showa Cable Systems while the existing plant in Hangzhou produces around 10,000 tonnes per year. The joint venture tries to develop local market with advantage of the premium copper wire rod from dip forming system, which is to cast and roll high purity copper wire continuously. Chinese demand increases for high grade magnet wire under rapid growing automobile and appliances production. The higher demand expands the oxygen free copper wire. The new joint venture tries to develop major magnet wire costumers in Chinese largest consuming area of around Shanghai.Japan Steel Scrap Composite Prices (Sangyo Press)
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