[SMM analysis] the operating rate of enamelled wire industry was weaker than expected in April and is expected to decline further in May.

SMM, May 15: according to SMM research data, the enamelled wire operating rate in April was 76.27%, down 1.13% from the previous month, 2.13% lower than the expected 78.42%, and the operating rate of large enterprises remained at a higher level of more than 80%. According to our research, in April, the enamelled wire industry is still in the peak production season, and export obstruction has not yet been fully transmitted to enterprises, which is the main reason why the operating rate remains high. Specifically: the main domestic power industry supporting market enterprises, as a result of new infrastructure and power projects to catch up with the order hot, some enterprise orders have been scheduled to the middle and late June. However, the number of orders for enterprises in the white power industry has begun to decline. Due to the impact of export obstruction, the order volume of white power enterprises has begun to decline, but it is not very obvious in April, and the impact is even greater after May; the situation in the power tools industry is similar, and the impact of export obstruction is increasing.

It is estimated that the operating rate of enamelled wire enterprises in May is 72.64%.

According to SMM, the vast majority of enamelled wire enterprises are pessimistic about orders in May, especially those in the home appliance industry, which have entered the off-season since May; on the other hand, the impact of export disruption will also be transmitted to enamelled wire enterprises, and orders from the home appliance industry are generally expected to drop by about 10% month-on-month compared with April. Only some of the companies that specialize in power systems can still maintain high operating rates. In addition, as the auto industry recovers, orders from car companies are rising steadily, which will play a positive role in the enamelled wire industry. Overall, the operating rate of enamelled wire enterprises is expected to be 72.64% in May, down 3.64% from the previous month.

(29 research enterprises with a production capacity of 1.006 million tons)

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