SHANGHAI, Mar. 20 (SMM) – SMM survey to major domestic copper plate, sheet, strip and foil producers shows that 90% of the surveyed producers expect orders to rise in March, leading SMM to believe the March operating rate at copper plate, sheet, strip and foil producers to be 59.13% in March.
Orders at copper plate, sheet, strip and foil producers were disappointing during February due to the Chinese New Year holiday. Demand for electrical and automotive copper strip showed an upward trend after the holiday with the onset of high-demand season, consumption still lagged behind the level during the high-demand season last year. Besides, data from China Customs revealed China’s exports outperformed those in developed countries, which may give a boost to exports of end products and thus drive up demand for copper plate, sheet, strip and foil.
10% copper plate, sheet, strip and foil producers believe orders in March should remain stable. Orders at these enterprises have recovered in late February when copper prices fell. Output at other enterprises was little affected by the holiday with the long-term contracts to be fulfilled, so these producers are relatively conservative to growth of orders this month. Besides, the falling copper prices will unlikely boost downstream buyers to purchase in large amounts.