Post-Holiday Dynamics of the Enamelled Wire Industry: Operating Rates Continue to Rise, Order Growth Awaits Breakthrough [SMM Analysis]

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       This week, SMM surveyed the production and new orders of 15 enamelled wire enterprises of varying scales in China. Overall, the industry's machine operating rate was 73.2%, a rebound of 22.8% WoW.

       According to SMM, with the conclusion of the Lantern Festival, workers at enamelled wire enterprises have mostly returned to their posts. Most enamelled wire companies resumed normal production this week, with machine operating rates rebounding accordingly. As the holiday ends, the machine operating rate in the enamelled wire industry is expected to continue rising next week.

       On the order side, new orders in the enamelled wire industry saw a significant increase WoW this week. However, due to the continuous rise in copper prices and the slow pace of downstream resumption, the volume of new orders fell short of expectations. Considering that most downstream enterprises only gradually resume operations after the Lantern Festival, the sluggish growth in orders is understandable. Enterprises indicated that the enamelled wire industry remains in a post-holiday transition phase this week and has not yet fully returned to normal. It is expected that by next week, after downstream production fully resumes, the real post-holiday market consumption situation will become clearer. Additionally, current orders from sectors such as home appliances, NEVs, and power transformers continue to show positive momentum, providing strong support for industry orders in the enamelled wire sector.