SHANGHAI, Jun 22 (SMM) – The operating rate across China's copper rod producers that use scrap as raw materials is expected to dip further in June to 66.3%, an SMM survey found. This will be down 2.36 percentage points from May.
The operating rate in May stood at 68.7%, 3.43 percentage points lower from April.
Meanwhile, operating rate for copper rod producers using refined copper declined 3.29 percentage points month on month in May, to 80.2%. This was up 5.88 percentage points year on year.
SMM surveyed the provinces of Henan, Jiangxi, Guangdong, Hebei, Hunan, and Jiangsu where the majority of China's copper rod plants are located. Surveyed plants accounted for a production capacity of 1.02 million mt, about half of overall domestic capacity.