Copper Enamelled Wire Industry Operating Rate Rebound Falls Short of Expectations

[Lead Smelter Updates] It was reported that Yuguang Gold and Lead Group stated on an interactive platform that Ye Group holds the mining rights to the Shuikoushan lead-zinc mine and the Baifang copper mine, with 3 mines (the Kangjiawan mine and the lead-zinc mine both fall under the Shuikoushan lead-zinc mine mining rights) and 1 beneficiation plant, possessing an annual mining and beneficiation capacity of 860,000 mt of raw ore. Its captive mines can produce lead concentrates, copper concentrates, gold concentrates, and other mineral products, providing raw material support for the company.

According to SMM, copper prices surged this week, significantly suppressing new order intake in the copper plate/sheet and strip industry. However, thanks to ample backlog orders accumulated in the earlier period, industry production demonstrated strong resilience. Demand orders from core downstream sectors such as power, new energy, and electronics remained generally stable, supporting full production schedules for most enterprises. As a result, the industry's operating rate continued to fluctuate at highs.

【SMM Copper Cathode Rod News Flash】Inventory side, raw material inventory side, enterprises purchased as needed and inventory edged down WoW; finished product inventories, under high copper prices, downstream wait-and-see sentiment intensified and cargo pick-up slowed down, finished product inventories increased WoW. SMM expected enterprises to slow down production and prioritize destocking, with operating rate pulling back 2.66 percentage points WoW to 60.84%.