SHANGHAI, Jul. 15 (SMM) – Although China’s power investment fell more slowly, wire & cable producers are still pessimistic about sales in the third quarter, meaning copper demand is expected to remain sluggish.
China’s investment in power grid totaled RMB 163.6 billion in the first half of the year, down by 0.79% from a year ago, the smallest fall so far this year. However, utilization rate at wire & cable makers.
Most orders from power companies were placed for EHV and UHV systems where usage of aluminum alloy wire & cable increased, which will hurt copper wire & cable.
Moreover, most smaller producers were still distressed by tight cash, which will also curb copper consumption.
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