Suppliers Both Hold Prices Firm and Make Adjustments, Shanghai Spot Copper Premiums Under Sustained Pressure

North American Air Conditioner Market: Policy Disruptions and Disrupted Pace. Frequent and disorderly adjustments to US tariff policies and AC energy efficiency standards have kept trade uncertainty on the rise, significantly increasing procurement and compliance risks for the industry. Dealers generally adopt a small-batch, wait-and-see stockpiling strategy; the traditional seasonal restocking pace has been disrupted, and market demand release is unstable and fluctuates greatly.

Latin American Air Conditioner Market: Under Pressure in the Short Term, Promising in the Long Term. In the short term, regional inflation and exchange rate fluctuations suppress consumer purchasing power, compounded by previously high channel inventory, resulting in weak users’ willingness to stockpile proactively, and market demand is under temporary pressure; in the long term, the region has ample climate-driven rigid demand and a low market penetration rate. As the economy recovers and inventory is cleared, there will be considerable room for subsequent demand recovery.

The Air Conditioner Market in Africa: Steady Growth in a Rigid-Demand Market. Africa is located in the tropics, where the rigid demand for air conditioning cooling is strong, and steady urbanization underpins basic consumption; the market is dominated by cost-effective entry-level products, which are less affected by policy and market fluctuations, and channel inventory is within a reasonable range. Coupled with the mature China-Africa trade system, overall demand maintains stable operation.