wiredinUSA March 2014

INDEX

Fastener exports down in 2013

PrysmianGrouphas completedoperations for the construction and execution of a submarine power cable link to connect Phu Quoc Island to the national power grid in Vietnam. Phu Quoc Island is situated 45km west of Ha Tien town, Kien Giang province in southern Vietnam. The submarine cable link will play a major role in the province’s 2020 socio-economic development plan aimed at making Phu Quoc Island into a special administrative-economic zone by the end of the decade. The Phu Quoc link is the first submarine power cable link installed by a utility company in Vietnam, and at 56km is south-east Asia’s longest undersea cable system. ThePhuQuoccableconnectioncomprises three 630mm² 110kV copper, single wire armored XLPE insulated submarine cables, installed by the Prysmian cable laying vessel “Cable Enterprise”. Prysmian completed theproject aheadof schedule, after only two months, and just in time to begin operation on the occasion of the 2014 Lunar New Year holiday. South-east Asia’s longest undersea cable

Jiaxing’s fastener exports declined 6.59 percent to $900 million during 2013, accounting for 4 percent of the city’s total export value. Europe and the US have previously been Jiaxing’s main fastener markets. However, exports to these markets declined 4.5 percent to $390 million, representing 44 percent of the total fastener exports (exports to the US dropped 9 percent to $210 million, while exports to the EU increased 1 percent to $180 million). Exports to the emerging markets increased, with some strong growth to developed countries. Jiaxing’s fastener exports to Russia, Brazil, India, South Africa, and ASEAN amounted to $200million, accounting for 22 percent of the total fastener exports. Exports to Japan, Germany, Italy, the Netherlands, Sweden and Singapore rose 11 percent, 7 percent, 7 percent, 12 percent, 33 percent and 10 percent, respectively. Fastener export prices varied. The average export price for steel or iron fasteners decreased 4 percent to $1,309 per ton. The price for copper fasteners increased 11 percent to$11,106per tonand for aluminum fasteners grew 5 percent to $2,471 per ton.

ASIA / AFRICA NEWS

wiredInUSA - March 2014

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