SHANGHAI, Mar. 19 (SMM) - A recent SMM survey of 21 major domestic copper plate, sheet, strip and foil producers (total capacity: 966,200 mt/yr), the average operating rate during February at the surveyed copper plate, sheet, strip and foil producers fell sharply to 42.04% since most producers opted to close during the Chinese New Year holiday in the face of disappointing orders.

According to producers, demand from the automobile, electronics and lithium battery sectors, all three major consumers of copper products, was steady immediately after the holiday, but some downstream producers consuming copper plate, sheet, strip and foil only resumed production gradually after the Lantern Festival on February 24th. Labor shortages at some downstream producers also limited consumption of copper plate, sheet, strip and foil during February. Nevertheless, most plate, sheet, strip and foil producers are upbeat toward March and believe the average operating rate will rise close to 60%.