Operating Rate at Copper Tube/Pipe Producers Down to 62.13% in February

SHANGHAI, Mar. 25 (SMM) - The SMM survey shows the average operating rate at the surveyed copper tube/pipe producers during February fell to 62.13%, a drop of 17.39% from January and due mainly to the Chinese New Year holiday. Excluding the holiday factor, operating rates at copper pipe/tube producers averaged at 70.8% during January and February, up nearly 8% YoY.  According to market data, total air-conditioner output during those two months was 15.38 million units, 10.42% YoY. During the same period, finished goods inventories at air-conditioner manufacturers continued to fall by as much as 32% YoY, and is a sign the air-conditioner market is rebounding. SMM expects operating rates at domestic copper tube/pipe producers to rise during March to close to 76%.