Copper prices shot up, demand fell to freezing point, new orders dropped by 5.9 percentage points [SMM Enamelled Wire Market Weekly Review]

This week (9.4-9.10), the operating rate of enamelled wire industry machines fell 1.87 percentage points WoW to 67.53%. During the week, copper price centers continued to climb, downstream purchase willingness dropped to a freezing point, and weekly new orders fell 5.90 percentage points WoW. On the inventory side, affected by weakening orders and sluggish shipments, days of finished product inventories climbed to 11.50 days this week, with inventory pressure emerging. Overall, high copper prices continued to suppress demand release, and the industry operating rate is expected to pull back to 67.00% next week. However, copper price centers pulled back on Friday, downstream order-taking improved, and enterprises will adjust their production pace accordingly. Attention should be paid to copper price trends and actual order-taking performance next week.