Operating Rate at Low-Oxygen Copper Rod Producers Rebounds Slightly to 36.2% in June

SHANGHAI, Jul. 4 (SMM) – SMM's latest survey found that the average operating rate at low-oxygen copper rod producers rebounded marginally to 36.2% in June, largely attributable to higher operating rates at smaller low-oxygen copper rod producers. Widening in the SHFE/LME copper price ratio boosted scrap copper imports as some cargo-holders stepped up sales volumes. This alleviated sourcing difficulties to some extent and helped smaller low-oxygen copper rod producers increase production. Meanwhile, sliding copper prices drove consumption. Most large and medium producers opted to produce oxygen-free copper rod from refined copper, however. As such, the average operating rate at the low-oxygen copper rod produces in the survey increased only marginally to 36.2% in June.