SHANGHAI, Nov 14 (SMM) – Operating rates across Chinese manufacturers of copper tube and pipe fell 7.75 percentage points month on month to stand at 64.2% in October, down 14.72 percentage points compared to a year ago, SMM data showed.
Rates have declined since July as the air-conditioner sector, one of the major consumers of copper tube and pipe, remained in a cyclically low season.
High inventories of goods for delivery also eroded production enthusiasm among air-conditioner producers and this cut demand for copper tube and pipe.
As the year-end high season for air-conditioner consumption approached, there were signs of resilience at the end of October. SMM expects copper tube and pipe producers to receive more orders in November.