SHANGHAI, Mar. 13 (SMM) – 91% of Chinese copper wire rod producers expected orders to improve in March, according to an SMM survey.
Wire and cable producers would increase purchases of copper wire rod as State Grid Corporation of China and local power authorities would start bid invitation for electric wire and cable. Despite thin profit arising from tight cash and falling processing charges, enameled wire market entered high demand season earlier this year, which would also benefit copper wire rod consumption.
9% of producers predicted orders would remain stable this month, noting that downstream users might refrain from building stocks given slumping copper prices and low operating rates during February.