SHANGHAI, Jul. 3 (SMM) - A majority of Chinese copper wire and cable producers expected steady order books in July as construction of power grids, public works and commercial real estates continued, according to a survey by Shanghai Metals Market (SMM).
70% of twenty copper wire and cable makers surveyed by SMM said their order books would remain stable this month, while 5% said it was difficult to estimate.
A quarter of the companies surveyed said they expected a drop in orders books in July. Most of them were producers of enameled wires which normally saw a seasonal decline in summer.
China’s cash squeeze may negatively impact on capital procurement and delay related construction work in the months to come, some wire makers said.
Average utilization rates at the surveyed companies were 84.7% in June, same as a month ago and higher from 77.8% a year ago.
For more details of the survey, please contact SMM's copper analyst Zhu Wenjun at firstname.lastname@example.org.