SHANGHAI, Aug. 11 (SMM) - Operating rates averaged 88.72% at copper tube/pipe producers surveyed by SMM in July, up 23.43 percentage points YoY but down 1.1 percentage points MoM. Equipment update and high temperatures dragged down operating rates.
China Copper Cathode Output Falls in July, and to Rise in August, SMM Reports
However, the operating rate was still high, despite of small decline. Most producers maintained full-load production amid brisk demand. Large air-condition producers arranged high production schedule for August in response to frenzy demand. But, orders at copper tube/pipe and air-condition producers both dropped from late June. Moreover, high air-condition inventories will also reduce production enthusiasm.
SMM expects operating rate at copper tube/pipe producers to increase further to 89.49% in August after the end of equipment update. Most producers will keep steady production amid stable orders.
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