Survey: 81% of Copper Wire Rod Producers Project Stable Orders for October-Shanghai Metals Market

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Survey: 81% of Copper Wire Rod Producers Project Stable Orders for October

Industry News 02:15:34PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 15 (SMM) – 81% of copper wire rod producers surveyed by Shanghai Metals Market (SMM) believed orders will remain stable through October. 

 
Most producers noted that although demand did not sag significantly in the traditional low demand months of July and August, copper demand from construction projects will unlikely show strong growth in Q4 with economic development only expected to hold steady. These producers also predicted that orders may start weakening in the latter half of November, with year-end financial pressure stemming economic activities. In addition, progress of outdoor projects will also slow due to the colder weather, bringing down demand of copper wire rod. 
 
The remaining 19% of copper wire rod makers expected falling orders in October, saying that expectation for a boost in consumption during the traditional peak demand season failed to materialize, and the resulting decline in profit margins forced some producers to stop operation for the Chinese National Day holiday. This may curtail overall deliveries during the month. 
 

Survey: 81% of Copper Wire Rod Producers Project Stable Orders for October

Industry News 02:15:34PM Oct 16, 2013 Source:SMM

SHANGHAI, Oct. 15 (SMM) – 81% of copper wire rod producers surveyed by Shanghai Metals Market (SMM) believed orders will remain stable through October. 

 
Most producers noted that although demand did not sag significantly in the traditional low demand months of July and August, copper demand from construction projects will unlikely show strong growth in Q4 with economic development only expected to hold steady. These producers also predicted that orders may start weakening in the latter half of November, with year-end financial pressure stemming economic activities. In addition, progress of outdoor projects will also slow due to the colder weather, bringing down demand of copper wire rod. 
 
The remaining 19% of copper wire rod makers expected falling orders in October, saying that expectation for a boost in consumption during the traditional peak demand season failed to materialize, and the resulting decline in profit margins forced some producers to stop operation for the Chinese National Day holiday. This may curtail overall deliveries during the month.