SHANGHAI, Jul. 31 (SMM) – SMM sees further decline in operating rate at China’s major copper wire & cable producers in August since the off-season is here to stay.
SMM’s survey of 23 domestic copper wire & cable producers, with capacity totaling 1.50 million tonnes, showed their operating rates averaged 89.65% in July, up 10.81 percentage points year-on-year, but down 2.18 percentage points month-on-month.
The average operating rate will drop further to 86.34% in August, SMM estimates.
About 74% of those producers surveyed by predict orders to be flat in August from July’s level, while the rest 26% expect orders to continue falling.
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