Lihua International Inc., a China-based company, announced that it has signed a 2011 copper anode volume supply contract for 30,000 tons with a Chinese customer the company recently added. Additionally, Lihua has announced that it has received 2011 copper anode volume demand indications from three other customers that total 80,000 metric tons.
Lihua International is a developer, designer and manufacturer of low cost, high quality alternatives to pure copper products, including refined copper products and superfine and magnet wire, as well as copper clad aluminum wire.
To meet the expected increased demand for copper, the company will be breaking ground on its second copper recycling facility, which will be located adjacent to Lihua’s existing copper recycling facility in Danyang, China.
The company expects to complete construction of the new facility by the second half of 2011. When the facility is complete, Lihua says that it will have annual refined copper production capacity of 100,000 tons. The company adds that it will allocate 75,000 tons for copper anode, with the remaining 25,000 tons allocated to copper rod.
"Since launching our copper anode in July, we have shipped over 4,000 tons and remain on track to meet our goal of shipping 8,000 to 10,000 tons of copper anode during 2010," says Jianhua Zhu, chairman and CEO of Lihua.