Terra Nostra expects sustained copper demand in China
Source: Press Release
metalsplace.com
China's trade deficit in copper is growing and is expected to sustain copper demand in 2007, analysts with Deutsche Bank indicated in a recent commodities report.
China imported 111,159 metric tonnes (MT) of copper last December 2006, the highest monthly level of last year, increasing 40.68% from November 2006 and 41.28% from the same period of 2005. DB analysts acknowledge that while it may take some time to confirm the transition in China's copper market, indications are for a strong resurgence.
Terra Nostra (OTC Bulletin Board: TNRO) anticipates that with the settling of prices from the peaks experienced in 2006, the Company will be ideally positioned to assist in meeting this resurgent demand domestically, particularly as it prepares to ramp up additional new electrolytic copper facilities in China. Terra Nostra, with its majority joint venture stake in 170,000 MT of existing and under-construction capacity of electrolytic copper in China, is cost-effectively positioned to substitute copper imports with domestically produced electrolytic copper.
About Terra Nostra Resources Corporation
Terra Nostra is one of the leading copper producers in China through its 51% interest in Shandong Terra Nostra Jinpeng Metallurgical Co. Ltd., which has an existing and under construction production capacity of 170,000 MT of electrolytic copper, 20,000 MT of low-oxygen copper, and value-added copper rod and wire facilities. Terra Nostra is also emerging as a leading stainless steel producer in China through its 51% interest in Shandong Quanxin Stainless Steel Co. Ltd., a modern stainless steel production facility that commenced operations in early 2006 with a now expanded 230,000 MT casting mill, and a recently commissioned 150,000 MT rolling mill. The two joint venture companies, with total assets exceeding US$ 200 million and having over 800 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. |
