Average Operating Rate Of Key Copper Rod Producers Using Copper Cathode Fell Last Week

The average operating rate of key copper rod producers using copper cathode was around 68.71% last week, a drop of 0.62 percentage point from the prior week. New orders were subdued amid higher copper prices. According to the survey, the fluctuation of copper price had a greater impact on the orders of copper rod enterprises.

Last week, downstream manufacturers were not enthusiastic about stockpiling, purchasing as required. The finished product inventory of copper rod plants using copper cathode increased significantly compared with the previous week. The average price spread between copper rod produced with copper cathode and with copper scrap expanded to 836 yuan/mt as of Thursday. Some cable companies purchased copper rod produced with copper scrap, but the impact on copper rod produced with copper cathode was insignificant due to the current lack of price advantage as well as tight supply of copper rod produced with copper scrap driven by tight copper scrap supply.