SHANGHAI, Aug. 1 (SMM) – SMM's latest survey revealed that the average operating rate at low-oxygen copper rod producers inched slightly down to 34.3% in July. Hotter weather in July generally drives down demand from the construction sector. Combined with declining activity among other customer groups, demand for copper rod is down. Moreover, low-oxygen copper rod producers contacted by SMM have noted that payment delays from wire and cable producers have become problematic. This has compelled many downstream producers to scale back order volumes to minimize capital risks, another factor contributing to the slight drop in July's average operating rate.