Higher copper prices continued to reduce new orders of the wire and cable industry last week. Poor demand for real estate dragged down wire and cable consumption. Cable companies reported long downstream payment cycle and weaker demand.
At present, both upstream and downstream sectors are facing declining orders and cash flow issues as the demand for cables has dropped significantly compared with the same period of previous years. It is also worth noting that the second quarter is the traditional off-season for photovoltaic installations, and the consumption of new energy will boost installed capacity of distributed onshore and floating offshore wind power. This will improve demand for cables.
