2025 Chinese New Year Copper Plate/Sheet and Strip Enterprises Holiday Schedule [SMM Analysis]

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According to SMM, during this year's Chinese New Year, copper plate/sheet and strip enterprises generally had production holidays lasting 4-6 days, with a few enterprises taking significantly longer breaks. Regionally, holidays were shorter in east and south China, while in north China, longer holidays were observed due to climate and market demand factors. Compared to 2023, the overall holiday duration for copper plate/sheet and strip enterprises was extended, primarily due to the increase in statutory holidays and weak infrastructure end-user orders. Notably, connector-related enterprises mostly had unchanged or even reduced holiday durations. Due to the increased instability in the export environment, some end-user enterprises rushed to fulfill export orders, leading some plate/sheet and strip enterprises to maintain full production at year-end, with the operating rate also increasing YoY. In terms of holiday schedules, copper plate/sheet and strip enterprises in 2025 mostly began their holidays from January 25-28, with work resuming from February 3-5.

From the perspective of orders, the overall orders for copper plate/sheet and strip enterprises were basically flat compared to previous years. Orders for red copper plate/sheet and strip accounted for nearly 50%. However, due to the short-term surge in copper prices and tight supply of copper cathode and secondary copper raw materials, most enterprises only stockpiled just-in-time procurement before the holiday. High copper prices limited new orders, with existing orders mostly supporting deliveries until mid-March. Many enterprises opted to recall a small number of workers 2-3 days in advance to preheat furnaces, but overall production levels are expected to normalize only after February 10 due to logistical constraints. By industry, new energy orders performed well, while orders for RF cables and lead frames also continued to grow, whereas the infrastructure sector underperformed. Overall, market divergence is focused on post-holiday copper price trends, with significant regional differences in resumption times.

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