In 2007, the combined amount of CNC metal-cutting and forming tools produced in China was 126, 268, more than double the amount produced in 2005.

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Sweden's Sandvik (6.6, SDVKY) fell 70% in the bear market as the recession whacked sales of its metal-cutting, mining and construction tools as well as specialty alloys based on titanium and zirconium, used in thousands of applications like boiler tubes and flanges.

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The rising cost of imports added significantly to the overall figures, as iron ore imports were up 83 percent in value during the quarter, with soybeans up 25 percent, crude oil up 39 percent, and metal-cutting machinery up 72 percent in value.

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The materials then goes through a multi-tiered supply chain where they are sold and possibly resold several times before reaching facilities that specialize in either cutting and polishing gemstones and diamonds, or turning raw precious metal into jewelry-grade material.

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