This week (6.5-6.11), the operating rate of enamelled wire industry machines rose 2.13 percentage points WoW to 77.33%, and weekly order intake grew 8.14% WoW. During the week, the center of copper prices pulled back, significantly boosting downstream purchase willingness. Industry new orders staged a periodical recovery, and enterprises' production enthusiasm improved simultaneously, driving a sharp rise in the operating rate. As the cargo pick-up pace accelerated, finished product inventory days of the industry pulled back to 9.04 days, easing earlier inventory pressure. On the end-use demand side, new energy remained positive, industrial motor demand was solid, while home appliance demand continued to be weak. This week's incremental orders were still driven mainly by copper price fluctuations, with rigid demand support still insufficient. Overall, the current improvement in industry orders and operating rates was mainly driven by the decline in copper prices, and its sustainability still needs observation. SMM expects the enamelled wire industry machine operating rate to be 77.20% next week.
