SHANGHAI, Feb. 19 (SMM) – The latest SMM survey revealed that 86% of Chinese copper wire rod producers expect their orders to decrease in February.
SMM estimates the average operating rate at the surveyed copper wire rod producers at 55.58% during February.
Based on the survey, 86% of producers are downbeat about their orders in February, pointing in part to the traditionally low demand period as well as the Chinese New Year holiday factor. Besides, some producers plan for unit maintenance during February, which will negatively affect production.
However, the remaining 14% of copper wire rod producers see no major changes in February orders. These producers are mainly large enterprises and were merely closed for the Chinese New Year holiday for 2-3 days. Some of them even maintained normal production during the holiday period owing to long-term contracts. Thus, their orders will not be impacted in February.