Operating rates across scrap-using rod producers up in Oct

Published: Nov 16, 2018 12:32

Save

Rates rose 11.17 percentage points from Sep, to 61.54% in Oct

SHANGHAI, Nov 16 (SMM) – Falling prices of copper scrap encouraged stockpiling across domestic producers of copper rods, with scrap as feedstock, in the first half of October. This buoyed operation rates across those plants by 11.17 percentage points from September, to 61.54% in October.

SMM expects the rate to dip 4.09 percentage points month on month and stand at 57.44% in November. Part of the downstream demand moved to copper rods made of refined materials, from scrap-made copper rods, as the price spread between the two raw materials narrowed this month. Prices of refined copper came off from highs and narrowed the price gap.

Unstable supplies of copper scrap and pressure from the environmental probes suspended some scrap-using copper rod producers this month. This will also lower the overall operating rates for November, SMM expects.

Operating rates Copper rod

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

Shaanxi-Henan UHV DC Project, Final in "Three Exchanges Nine Direct," to Be Completed by 2028

On March 31, the National Grid announced that the Shaanxi-Henan ± 800 kV UHV DC project, the final project of the "three exchanges and nine direct" projects in the National "14th Five-Year" plan, with a total investment of 19 billion yuan.It starts in Yulin, Shaanxi, and ends in Kaifeng, Henan, passing through Shaanxi, Shanxi, and Henan provinces. The total length of the line is 728 kilometers, the transmission capacity is 8 million kilowatts, and it is planned to be completed and put into operation in 2028.

3 hours ago

National Grid's Panxi UHV AC Project, a $23.2B Investment, to Span 994km and Complete by 2028

On March 31, the National Grid announced that the Panxi UHV AC project, the first UHV AC project to start construction during the "14th Five-Year Plan" of the National Grid, has a total investment of about 23.2 billion yuan. The project will pass through 12 counties (districts) in Liangshan, Yibin, and Leshan, build two 1000 kV substations in Panxi and Chuannan, and expand Tianfu South Station. The total length of the line is 994 kilometers, and it is expected to be completed and put into operation in 2028.

3 hours ago

22 hours ago

"Fluctuating Copper Prices and Tight Supply Squeeze Secondary Copper Industry, Pressuring Upstream and Downstream"

This week, against the backdrop of fluctuating upward copper prices, the secondary copper industry chain showed a complex situation in which extremely tight upstream raw material supply coexisted with persistent negative margins for downstream finished products. In the secondary copper rod market, SMM data showed that the operating rate fell further to 5.45% this week, down 0.38 percentage points MoM and 25.43 percentage points YoY

22 hours ago