SHANGHAI, Aug. 11 (SMM) - Operating rates averaged 88.72% at copper tube/pipe producers surveyed by SMM in July, up 23.43 percentage points YoY but down 1.1 percentage points MoM. Equipment update and high temperatures dragged down operating rates.

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However, the operating rate was still high, despite of small decline. Most producers maintained full-load production amid brisk demand. Large air-condition producers arranged high production schedule for August in response to frenzy demand. But, orders at copper tube/pipe and air-condition producers both dropped from late June. Moreover, high air-condition inventories will also reduce production enthusiasm.

SMM expects operating rate at copper tube/pipe producers to increase further to 89.49% in August after the end of equipment update. Most producers will keep steady production amid stable orders.

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