WiredInUSA September 2019

China rebar report

Sunshine cable plan

Photo by Alex King on Unsplash

South Chinese electric arc furnace (EAF) steelmakers using scrap as feedstock suffered losses in July as steel scrap prices held firm while rebar prices weakened. Industry observers SMM said that as of 30 th July losses at EAF steel mills stood at 78.5 yuan per metric ton, compared with 38.5 yuan per metric ton a week earlier. SMM based its assessment on steel scrap prices in Changzhou, Jiangsu province, of 2,370 yuan per metric ton without taxes. In south-west China, comparatively cheap steel scrap with high prices for rebar kept losses at bay for producers, but while local rebar mills remained under full operation, it was expected that continued rainfall would be likely to lower production in the short term.

An Australian Sunshine Coast business, Auscom, has been awarded a $1 million contract to provide a key section of an international broadband submarine cable network. Under thedeal, Auscomwill deliver the land-side fiber network to connect a beach landing to a cable landing station at Maud Street, Maroochydore. Once the network comes into operation in mid-2020, the Sunshine Coast is expected to provide the fastest international connection point to Asia from Queensland and east Australia. The $35 million Sunshine Coast international broadband submarine cable is jointly funded between Sunshine Coast council and the Queensland government through its jobs and regional growth fund. Sunshine Coast mayor Mark Jamieson said the contract announcement marked the next major milestone in the project. “[Sunshine Coast] council is the only local government in Australia to secure an investment in an international submarine cable, and works have begun on the installation phase ensuring that the connection is on track to be operational by mid-2020.”

wiredInUSA September 2019

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