SHANGHAI, Aug 9 (SMM) – Operating rate across China's copper tube and pipe producers dipped 6.11 percentage points from June to stand at 89.5% in July, SMM research found.

This marked the first month-on month decline since March this year, as downstream demand from the air conditioning industry slowed. On a yearly basis, the operating rate inched up 0.77 percentage point. 

We expect the operating rate to fall further to 84% in August, down 1 percentage point on the year. Most air conditioning companies began their summer break this month and this lead to lower operating rate.