SHANGHAI, Jan. 13 (SMM) – Utilization rates at major domestic copper tube/pipe producers grew in December both on a monthly and yearly basis, SMM latest survey finds.
The average operating rate was 77.31 percent in December, up 0.36 percentage points year-on-year and 0.62 percentage points month-on-month, according to SMM survey.
SMM attributes the rise to rate mainly to high demand in a traditionally busy production season.
In December, domestic air-conditioning manufacturers stepped up production as traders showed higher stockpiling demand due to seasonal factor and price rise expectations after surging prices of raw materials since November. Moreover, the fallback in copper market in December also encouraged copper tube/pipe producers to build up stocks.