Be Vigilant Against the Spread of "Tariff Turmoil": Decline in New Orders Continues to Widen [[SMM Weekly Review of Enamelled Wire Market]]

      This week, the operating rate of enamelled wire industry machinery was 86.6%, down 2.1% WoW, and weekly orders decreased by 4.63% WoW. In terms of orders, downstream enterprises were not active in placing orders before the holiday this week. Additionally, affected by the tariff hike, orders for end-user home appliances and power tools exported to the US were impacted, which in turn led to a decline in enamelled wire orders through layered transmission. The operating rate of machinery at some enterprises also decreased. It is expected that the impact of the tariff dispute on enamelled wire industry orders will continue to manifest. In terms of inventory, as next week is the Labour Day holiday, enamelled wire enterprises plan to reduce the operating rate of machinery. Therefore, most enterprises maintained normal production before the holiday. The decline in downstream demand led to finished product inventories being slightly higher than last week, but they are still at a normal level. Overall, the current operating rate of the enamelled wire industry is performing moderately. However, it is worth noting that the growth in its orders is showing a continuous downward trend, and the impact of the tariff dispute on the enamelled wire industry has expanded. With the approaching off-season for the industry, there are pessimistic expectations for enamelled wire industry orders in May.