SHANGHAI, Aug. 18 (SMM) - Utilization rate at major Chinese copper tube/pipe producers fell by another 3.13 percentage points on the month in July.
SMM surveyed 20 copper tube/pipe producers representing 1.5 million tpy in capacity to find that their utilization rate was only 78.35% in July.
ChinaIoL data showed air-conditioner output in China fell by 11.08% to 10.22 million sets in June, and sales dropped 8.48% to 10.5 million sets. Air-conditioner inventories edged down 2.35% to 7.03 million sets. Many air-conditioner makers cut production due to summer break, reducing copper tube/pipe consumption.
"Tube/pipe makers reported improvement in orders when copper price fell to 38,000 yuan per tonne. That, however, failed to boost utilization rates in July as most of these orders were for future delivery," SMM analyst says.
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