SMM Chinese New Year Holiday Survey on Processing Enterprises in 2026—Enamelled Wire

       As the Chinese New Year break approaches, the holiday schedules and production plans of enamelled wire enterprises have been largely finalized. SMM has surveyed multiple enamelled wire manufacturers, and the results are summarized as follows: 

       Regarding holiday arrangements, the enamelled wire industry continued its customary practice for the Chinese New Year break. Enterprise holidays were generally flat or increased, with an average duration exceeding 10 days. According to an SMM survey, due to wild swings in copper prices during the year, some end-use motor plants began holidays earlier. Small and medium-sized enamelled wire enterprises also started their holidays earlier than in previous years. However, industry orders for end-use sectors such as home appliances, new energy, and power transformers performed well, particularly with a significant increase in concentrated downstream orders after mid-January. Some enterprises had sufficient orders on hand awaiting delivery, leading them to opt for production cuts during the holiday rather than a complete shutdown.

       On the raw material and finished goods stockpiling front, influenced by rising copper price volatility, enterprises significantly heightened their risk control awareness. Currently, both end-user and enamelled wire enterprise inventory levels are low. Enamelled wire enterprises strictly anchor their stockpiling strategies to the scale of existing and pending delivery orders, resulting in an overall stockpiling willingness noticeably weaker than in previous years.

       Overall, the scale of orders in the enamelled wire industry during the same period this year fell short of that in 2025. Some enterprises, based on their own order situations, took holidays earlier. The overall industry resumption time, however, was similar to previous years. Due to limited actual production days in February and the fact that end-use demand only gradually returns to normal after the Lantern Festival, enterprise order performance in February appeared somewhat thin. As March represents a traditional period of seasonal strength for the enamelled wire industry, most enterprises maintain a cautiously optimistic attitude towards the subsequent order trend.