SHANGHAI, Jan. 29 (SMM) – SMM conducted a survey with regard to copper tube/pipe orders in January.
The 20 major Chinese copper tube/pipe producers SMM surveyed expect their average operating rate at 73.78% in January.
Around 75% of copper tube/pipe producers see no noticeable changes in January orders, saying that a turnaround in consumption is likely to appear after the Chinese New Year holiday. Some producers said that they will conduct production as scheduled during January due to fixed customers and stable long-term contracts.
Roughly 15% of producers are upbeat about the outlook. They said downstream producers will step up purchases of raw materials as the Chinese New Year holiday nears, boosting copper tube/pipe demand. Some producers even already accepted January orders in December.
The remaining 10% of copper tube/pipe producers anticipate their orders to drop in January as some producers plan to halt production for the holiday earlier than normal time.