According to SMM research data, the enterprises operating rate of copper rod using copper scrap last week (July 15 to July 21) was 43.13% (surveyed enterprises: 15, with a capacity of 1.48 million mt/year), an increase of 5.46 percentage points from the previous week.
Although copper scrap became tight last week, due to the copper price surging above 69,500 yuan/mt at the end of last week, copper scrap traders actively sold their inventory, and copper rod plants using copper scrap actively built up their stock. As a result, the inventory of copper scrap remained sufficient for normal production last week.
Additionally, one of the sampled companies had purchased excess copper scrap in the previous weeks and opened a production line that had not been used for a long time, contributing to the increase in the weekly operating rate of copper rod using copper scraps. It is worth noting that the supply of copper scrap tightened last week, and the inventory of some copper rod using copper scrap manufacturers fell below the safety level, only sufficient for 2-3 days of production.
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