In July 2026, the operating rate of China's copper foil enterprises stood at 93.08%, up 1.6 ppts MoM and up 15.8 ppts YoY. The operating rates were 95.75% for large enterprises, 80.39% for medium-sized enterprises, and 80.36% for small enterprises. By category, the operating rate for electronic circuit copper foil was 94.09%, up 1.94 ppts MoM and up 16.71 ppts YoY; for lithium battery copper foil, it was 92.55%, up 1.39 ppts MoM and up 15.33 ppts YoY.
Robust End-Use Demand for Copper Foil Continued in July 2026
In July, the copper foil industry's operating rate continuously hit new highs for the year, supported by strong downstream end-use demand. For lithium batteries, production schedules of major domestic lithium battery enterprises reached another record high in July. The installation rush for power battery cells drove up the scale of production schedules, and demand for lithium battery copper foil remained positive. In electronic circuits, demand related to the AI industry chain stayed hot. Industry capacity kept tilting towards high-end products, and demand for all specifications of electronic circuit copper foil remained robust.
Copper Foil Shipments Continued to Rise in July
Both production and sales improved. In July, industry raw material inventory decreased by 0.23 days MoM, and finished product inventory fell by 0.3 days MoM. Overall copper foil shipments increased by 2.57% MoM in July, with lithium battery copper foil shipments up 0.74% MoM and electronic circuit copper foil shipments up 6.25% MoM.
Forecast Operating Rate of the Copper Foil Industry to Rise to 93.29% in August 2026
SMM expects the overall operating rate of copper foil enterprises in August 2026 to be 93.29%, up 0.21 ppts MoM and up 14.85 ppts YoY. Total shipments in August are expected to increase by 0.58% MoM. The operating rate for lithium battery copper foil is forecast at 92.64%, and that for electronic circuit copper foil at 94.54%. Looking ahead to August demand, affected by expectations of a battery consumption tax increase in early September, power battery enterprises are advancing their production schedules. Coupled with the continued high prosperity in the energy storage sector and persistently hot demand from AI computing, multiple factors together support the copper foil industry's operating rate staying high in August.
