SHANGHAI, Aug. 23 (SMM) –Based on a recent SMM survey of major domestic copper plate, sheet, strip and foil producers, more than 50% producers expected August orders to fall further.
Among these surveyed copper plate, sheet, strip and foil producers, about 55% producers said orders during August will fall from July levels. In addition to impacts from the seasonal low demand period, uncertainties in copper prices were also an important factor. Based on the SMM survey results, demand for copper plate, sheet, strip and foil products all dropped so far in August, and the drop in demand for copper plates and brass strip was especially sharp. Furthermore, copper price volatility in early August also increased downstream producer’s wait-and-see sentiment, further weakening demand for copper plates, sheets and strips.
Around 35% producers believed August orders will remain flat with July levels. Some of them believed August orders will not likely fall, although their July output had begun to decline. Others were mainly copper foil producers, and copper clad laminate consumption was basically stable.
The remaining 10% producers were optimistic towards August orders. They believed copper prices will remain low during August, which will stimulate downstream producer’s buying interest.