SHANGHAI, Dec. 11 (SMM) – The latest SMM survey of major Chinese copper wire rod producers revealed the following insights with regard to December orders.

Based on the survey, these producers expect their average operating rate during December at 74.55%, virtually flat with November.

About 90% of copper wire rod producers SMM contacted see no major changes in December orders. Copper wire rod orders at some producers have begun stabilizing on increasing consumption of enameled wire. However, any upside room in December orders should be limited since projects at wire and cable producers, another kind of large downstream companies consuming copper rod, have halted or slowed in some regions owing to colder weather this year. Some producers said orders have remained steady during 4Q and do not anticipate noticeable improvement in December. 

The remaining 10% of copper wire rod producers predict December orders will fall marginally. These producers mostly completed sales task for the whole year in November and will mainly collect payments in December.