Exhibit 99.1

Fushi Copperweld Announces 2012 Second Quarter Results

BEIJING, Aug. 9, 2012 /PRNewswire-Asia/ -- Fushi Copperweld, Inc. (Nasdaq: FSIN), the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other electrical applications, today announced financial results for the second quarter ended June 30, 2012.

Second Quarter 2012 Results

Revenues were $77.3 million compared to $79.0 million in the year ago period;

Gross profit was $19.8 million, or 25.7% of revenues, compared to $21.0 million, or 26.6% of revenues, in the year ago period;

Income from operations was $11.1 million, or 14.3% of revenues, compared to $15.3 million, or 19.4% of revenues, in the year ago period;

Net income was $7.4 million, or $0.19 per diluted share, compared to net income of $10.6 million, or $0.28 per diluted share, in the year ago period;

Cash position of $203.3 million at June 30, 2012.

Joe Longever, co-Chief Executive Officer of Fushi Copperweld, commented, "Our performance for the 2012 second quarter was in-line with our expectations, as we continued to execute on our strategic objectives. While the telecom markets in China and the U.S. remained challenging, we saw improved sales in our utility and transportation product lines in North America driven by higher domestic and international demand, which drove strong volume and profitability growth at our Fayetteville facility. In Europe, the ramp-up of operations at our new facility in Liege continues, and the benefits of being closer to our customers and decreased delivery times are becoming more tangible, as customer orders for bimetallic wire in Western Europe, the Middle East, Africa and emerging Asian markets accelerate. At the same time, we continue to secure re-certifications for our copper tubing product in major markets across the continent, enhancing our ability to generate sales for this product. We are building on this momentum with the recently announced establishment of our EMEA-focused sales and innovation office in Milan, Italy. In total, we believe the investments we are making across our businesses are gaining traction and will help drive our long-term growth, particularly as the demand environment improves and the market adoption for bimetallics increases."

Revenues in the second quarter of 2012 were $77.3 million, a decrease of 2.2% compared to $79.0 million in the prior year quarter, primarily due to lower sales volumes at the Company's Dalian facility partially offset by higher sales volumes at the company's Fayetteville and Liege facilities.

Gross profit in the second quarter was $19.8 million compared to $21.0 million in the year ago period. Gross margin decreased to 25.7% from 26.6% in the same period last year. Gross margin for the Company's Dalian cladding facility was essentially flat at 32.5%, compared to 32.4% in the prior year period, while gross margin for the Company's Fayetteville, TN facility improved to 16.2% in the second quarter of 2012, compared to 10.2% in the 2011 second quarter.

Operating expenses in the second quarter of 2012 increased to $8.8 million, compared to $5.7 million in the prior year's quarter, primarily as a result of approximately $1.9 million in advisory fees related to the going private offer and definitive merger agreement compared to $0.1 million in the prior year period. As previously announced on June 28, 2012, the Company has entered into an Agreement and Plan of Merger with entities affiliated with its Chairman and Co-Chief Executive Officer, Mr. Li Fu, and Abax Global Capital (Hong Kong) Limited at a price of $9.50 per share in cash. The Company continues to expect the transaction to close in the fourth quarter of 2012.

Operating expenses in the second quarter of 2012 also included the Company's continued investment in its global business development efforts of $0.4 million and incremental costs of approximately $0.4 million related to the start-up of operations at its new facility in Liege, Belgium. As a percentage of revenue, operating expenses increased to 11.3% from 7.2% in the second quarter of 2011.

The Company's effective income tax rate in the second quarter of 2012 was 35.3% compared to 28.4% in the year ago period. The Company continues to expect its effective tax rate for the 2012 full year period to be 31.5%.

Net income in the second quarter was $7.4 million, or $0.19 per diluted share, compared to net income of $10.6 million, or $0.28 per diluted share, for the 2011 second quarter.

Fully diluted shares in the second quarter of 2012 were 38.3 million, even with the year ago period.

As of June 30, 2012, the Company's cash position was $203.3 million, an increase of 1.4% from $200.5 million as of December 31, 2011. Accounts receivable at June 30, 2012 was $73.0 million, compared to $64.0 million at December 31, 2011. Long-term debt totaled $7.9 million as of June 30, 2012, compared to $8.3 million at December 31, 2011.

Outlook

Based on its second quarter performance and current business trends, Fushi Copperweld continues to expect 2012 fully diluted earnings per share between $0.76 and $0.86, based on an estimated weighted average diluted share count of 38.3 million shares and an effective tax rate of 31.5%.

About Fushi Copperweld

Fushi Copperweld Inc., principally through its wholly owned subsidiaries, Fushi International (Dalian) Bimetallic Cable Co. Ltd. and Copperweld Bimetallics LLC, is the leading manufacturer and innovator of copper-clad bimetallic engineered conductor products for electrical, telecommunications, transportation, utilities and industrial applications. With extensive design and production capabilities, and a long-standing dedication to customer service, Fushi Copperweld is the preferred choice for bimetallic products worldwide.

Safe Harbor Statement

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as "will", "believes", "expects" or similar expressions. These forward-looking statements may also include statements about our proposed discussions related to our business or growth strategy, which is subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. We do not undertake to update the forward-looking statements contained in this press release. For a description of the risks and uncertainties that may cause actual results to differ from the forward-looking statements contained in this press release, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.

For more information, please contact:

Investors
Jolin Qiao, Investor Relations Officer
Fushi Copperweld Inc.
Phone +1.615.377.4183
E-mail: ir@fushicopperweld.com
Web: www.fushicopperweld.com

FUSHI COPPERWELD, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

	June 30,		December 31,
	2012		2011
	USD		USD
ASSETS
Current assets:
Cash		203,289,583		200,451,902
Accounts receivable, net of allowance for doubtful accounts		72,982,058		63,978,861
Inventories		21,456,791		10,695,123
Advances to suppliers		3,328,261		6,793,904
Prepaid expenses and other current assets		1,691,162		1,332,204
Total current assets		302,747,855		283,251,994
Property, plant and equipment, net		110,027,059		117,405,523
Intangible assets, net		341,608		431,441
Land use rights		12,998,525		13,321,796
Deposits for land use rights		9,997,260		10,090,621
Goodwill		1,795,302		1,812,068
Other non-current assets		442,181		491,380
Total assets		438,349,790		426,804,823
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term bank loan		3,534,372		—
Current portion of long-term loan		650,000		650,000
Accounts payable		5,843,785		3,802,155
Amounts due to a related party		—		2,000,000
Accrued expenses and other current liabilities		14,898,769		15,880,176
Total current liabilities		24,926,926		22,332,331
Long-term loans		7,246,100		7,632,100
Deferred income tax liabilities		648,094		672,943
Total liabilities		32,821,120		30,637,374
Shareholders' equity:
Common stock, $0.006 par value, 100,000,000 shares authorized; 38,304,570 and 38,240,438 shares issued and outstanding as of June 30, 2012 and December 31, 2011, respectively		229,829		229,444
Additional paid-in capital		170,184,512		169,335,522
Retained earnings		184,755,401		172,507,890
Accumulated other comprehensive income		50,358,928		54,094,593
Total shareholders' equity		405,528,670		396,167,449
Commitments and contingencies		—		—
Total liabilities and shareholders' equity		438,349,790		426,804,823

FUSHI COPPERWELD, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Three-month Period Ended June 30,						Six-month Period Ended June 30,
	2012			2011			2012			2011
	USD			USD			USD			USD

Revenues		77,303,474			78,953,560			139,449,660			144,879,426
Cost of revenues		57,461,093			57,916,946			103,252,089			106,694,060
Gross profit		19,842,381			21,036,614			36,197,571			38,185,366
Operating expense
Selling expenses		1,811,600			1,242,285			3,430,993			2,391,809
General and administrative expenses		6,942,514			4,459,195			13,599,269			9,974,319
Total operating expenses		8,754,114			5,701,480			17,030,262			12,366,128
Income from operations		11,088,267			15,335,134			19,167,309			25,819,238
Other income (expense):
Interest income		236,701			212,071			473,410			440,925
Interest expense		(107,311	)		(125,810	)		(238,495	)		(223,904	)
Foreign currency exchange gain (losses), net		195,263			(564,823	)		19,666			(919,714	)
Total other income (expense)		324,653			(478,562	)		254,581			(702,693	)
Income before income taxes		11,412,920			14,856,572			19,421,890			25,116,545
Income tax expense		4,031,735			4,222,529			7,174,379			7,656,217
Net income		7,381,185			10,634,043			12,247,511			17,460,328
Other comprehensive income:
Foreign currency translation adjustment, net of nil income taxes		(3,756,984	)		4,875,845			(3,735,665	)		7,531,382
Comprehensive income		3,624,201			15,509,888			8,511,846			24,991,710
Earnings per share:
Basic		0.19			0.28			0.32			0.46
Diluted		0.19			0.28			0.32			0.45

FUSHI COPPERWELD, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six-Month Period Ended June 30,
	2012			2011
	USD			USD
Cash flows from operating activities:
Net cash provided by operating activities		3,211,908			20,742,356
Cash flows from investing activities:
Purchases of property, plant and equipment		(282,729	)		(499,458	)
Net cash used in investing activities		(282,729	)		(499,458	)
Cash flows from financing activities:
Proceeds from bank loans		6,721,672			—
Payment for acquisition of Jinchuan		—			(4,819,107	)
Repayment of interest-free loans provided by Mr. Li Fu		(2,000,000	)		20,685
Repayment of bank loans		(3,426,312	)		(325,000	)
Proceeds from issuance of common stock and warrants		436,466			628,495
Net cash provided by (used in) financing activities		1,731,826			(4,494,927	)
Effect of foreign currency exchange rate changes on cash		(1,823,324	)		3,130,934
Net increase in cash		2,837,681			18,878,905
Cash at beginning of period		200,451,902			123,000,338
Cash at end of period		203,289,583			141,879,243
Supplemental disclosure of cash flow information:
Interest paid		238,495			223,904
Income taxes paid		10,119,710			4,553,891

Fushi Copperweld, Inc. 8-K/A