Both Operating Rate and Orders of the Enamelled Wire Industry Declined

[SMM Copper Wire and Cable Weekly Inventory] Regarding copper wire and cable inventory this week, enterprises primarily purchased raw materials based on immediate needs, prioritizing the consumption of existing inventory. As a result, raw material inventory fell 3.41% WoW. On the finished product inventories side, affected by a slowdown in downstream cargo pick-up pace and fewer new orders, finished product inventories edged up, increasing 2.54% WoW.

[SMM Copper Wire and Cable Weekly Operating Rate] This week, the SMM copper wire and cable enterprise operating rate was 68.48%, down 1.48 percentage points WoW and down 16.19 percentage points YoY. Copper prices fluctuated and rebounded during the week, suppressing new orders from downstream. Additionally, the concentrated delivery date in Q1 was largely over, the pace of power grid order delivery slowed down, and the execution of prior backlog orders was nearing completion. Enterprise production pace slowed slightly, leading to a marginal decline in the operating rate. The industry operating rate is expected to continue declining next week, and SMM expects the copper wire and cable operating rate to edge down 1.88 percentage points WoW to 66.59% next week.