Gangguan Libur Menyebabkan Penurunan Signifikan pada Tingkat Operasi Industri Kawat Email Tembaga

[SMM Shanghai Spot Copper] Outlook for next week: Shanghai spot copper premiums continued under pressure during the day. Suppliers consecutively lowered their offers throughout the day, with the premium center shifting notably downward, reflecting limited downstream acceptance of high copper prices and premiums, with purchasing driven mainly by rigid demand. In addition, the Shanghai-Guangdong price spread stayed high, with theoretical arbitrage opportunities persisting, which may attract east China cargo to be diverted to south China, diverting available cargo from the Shanghai market and providing some support for local spot discounts. Notably, next Friday is the delivery day for the May contract, and delivery logic is gradually emerging, which may provide bottom support for spot premiums. Overall, Shanghai spot copper premiums are expected to remain under pressure, but downside room is expected to be supported by delivery expectations.

[Tingkat Utilisasi Kabel dan Kawat Tembaga SMM] Minggu ini (1 Mei–7 Mei), tingkat utilisasi perusahaan kabel dan kawat tembaga SMM tercatat sebesar 63,23%, turun 2,67 poin persentase secara MoM dan turun 20,26 poin persentase secara YoY. Penurunan ini terutama disebabkan oleh pemangkasan produksi dan penyesuaian penghentian operasi di beberapa perusahaan selama libur Hari Buruh. Perlu dicatat, pada periode yang sama tahun lalu, lonjakan pemasangan PV secara terkonsentrasi yang dikombinasikan dengan penurunan tajam harga tembaga mendorong permintaan, sehingga menghasilkan basis tingkat utilisasi yang lebih tinggi, membuat kinerja YoY tahun ini relatif lemah.