Average Operating Rate at Low-Oxygen Copper Rod Producers 36.3% in November

SHANGHAI, Nov. 27 (SMM) – SMM's latest survey found that the average operating rate at the surveyed low-oxygen copper rod producers dropped to 36.3% in November, due largely to sluggish low-oxygen copper rod orders. First, as the traditionally high demand period gradually ends, and as infrastructure construction has slowed in north China where the weather is becoming colder, low-oxygen copper rod orders have been negatively affected. Second, with scrap copper enjoying less price advantage against refined copper, the price differential between low-oxygen and oxygen-free copper rod shrank below RMB 400/mt. This has led to substitution of oxygen-free for low-oxygen copper rod.