Copper Wire Rod Performance Amid Accelerated Manufacturing Expansion in February

【How Did Copper Wire Rod Perform Amid Accelerated Expansion of Manufacturing Production and Operations in February?】

Driven by employees returning to work after the Chinese New Year holiday, manufacturing production and operations accelerated their expansion in February, with improved prosperity levels. The Caixin China Manufacturing PMI for February, released on March 3, recorded 50.8, up 0.7 percentage points from January, marking a three-month high and signaling faster expansion in manufacturing activities. The National Bureau of Statistics (NBS) also recently reported that the February manufacturing PMI stood at 50.2, rebounding by 1.1 percentage points and returning to expansion territory.

From the perspective of copper rod enterprises, post-holiday consumption also showed a recovery trend but was slower than expected and below the level of the same period last year. The destocking rate was significantly insufficient, as consumption is still waiting for a decline in copper prices to create room for growth. Specifically, orders in the new energy and home appliance sectors have recovered well, while orders in the traditional wire and cable industry have fallen short of expectations.