This week (April 3 - April 9), the enamelled wire industry operating rate pulled back by 1.33 percentage points to 86.47%, and new orders declined by 6.95 percentage points. Affected by persistently weakening home appliance demand, orders for related enamelled wire enterprises were significantly under pressure. Combined with the upward shift in the copper price center, industry new orders and operating rates pulled back in tandem. Inventory side, the downstream cargo pick-up pace slowed down, and finished product inventories days rebounded to 7.87 days. Overall, dragged down by weakening end-user home appliance demand, compounded by multiple factors including insufficient new incremental orders after the concentrated release of prior orders and the upward shift in the copper price center, enamelled wire industry orders and operating rates continued their contraction trend. SMM expects the enamelled wire industry equipment operating rate to continue pulling back to 85.4% next week.
