SHANGHAI, Apr. 10 (SMM) – 82% of Chinese copper wire rod makers expected their orders to show limited change in April, according to an SMM survey of 22 enterprises.
Most of these producers had witnessed sharp rises in orders during March.
Chinese Premier Li Keqiang reiterated that Chinese government was committed to gearing up railway construction in central and western China, as well as low-income housing construction, which might herald robust demand from railway and construction sectors. Nevertheless, tight cash flow was expected to result in payment delays, which would put a ceiling on any increase in order books.
The remaining 18% of producers believed orders would increase in April, given the arrival of traditional boom season and the second round of bidding invited by the China State Grid Corporation. The progresses in construction projects might also help lift consumption of low and medium-voltage electric wires.