Copper Sheet & Strip Operating Rate Dips in July 2024 Amidst Seasonal Slowdown, Yet End-User Sentiment Lifts on Falling Copper Prices

Published: Aug 15, 2024 14:09

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[SMM Analysis] According to SMM survey data, the operating rate of copper sheet and strip in July 2024 was 67.78%, a decrease of 0.29 percentage points from the previous month and 2.00 percentage points year-on-year. Among them, the operating rate of large enterprises was 72.31%, medium-sized enterprises was 62.81%, and small enterprises was 61.20%. (Surveyed enterprises: 36, total production capacity: 2.681 million tons). July is traditionally considered the off-season for the copper sheet and strip industry. However, as copper prices fell unilaterally back to around 72,000 yuan/ton, sentiment for end-user delivery finally improved. The following is a detailed analysis.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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