SHANGHAI, Jul. 10 (SMM) – Utilization rate at China’s copper wire rod producers fell to 69.85% in June and most of the surveyed are pessimistic about the production in July, SMM finds in a recent survey.
SMM surveyed 21 copper wire rod producers representing 3.99 million tpy in total capacity and found that the utilization rate was down 1.24 percentage points both on the month and year-on-year.
Some large producers reported slide in orders from wire & cable and enameled wire companies, which dampened wire rod production. The operating rates at SMEs held largely stable, though.
Heading into July, the onset of low-demand season leaves most producers downbeat about utilization rate. The ratio of copper wire rod producers expecting poorer orders grew to 35% in July. These producers noted that slow power investment in China impairs consumption of copper wire & cable and enameled wire demand was also curbed by falling output of automobile and home appliance.
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