[SMM analysis] orders in the air-conditioning industry remained high. The operating rate of copper tube enterprises rebounded in June compared with the previous month.

SMM7 March 11:

The operating rate of copper pipe enterprises in June was 89.28%.

According to SMM research data, the operating rate of copper pipe enterprises in June was 89.28%, up 5.9% from the previous month and 2.90% from a year earlier. According to SMM research, the operating rate of copper pipe enterprises increased in June compared with the previous month, mainly due to the continuous repair of the demand of the terminal industry. Affected by the great promotion of the domestic online next year, orders from the air-conditioning industry are relatively hot; the recovery of the real estate industry has led the plumbing and plumbing industry to increase the consumer demand for copper pipes. From the point of view of the order situation of copper pipe enterprises in June this year, it is very optimistic, and there is a real sense of "not light in the off-season". A number of copper pipe factories have reached full capacity production since mid-late June. (research enterprises: 19, production capacity: 2.15 million tons)

The raw material inventory ratio of copper pipe enterprises in June was 15.00%.

In June, the raw material inventory ratio of copper tube enterprises was 15.00%, an increase of 1.4 percentage points over the previous month. Among them, the proportion of raw material inventory of medium-sized copper tube enterprises increased most significantly, rising sharply to 53.68% from 35.25% in May. Most small and medium-sized enterprises draw lessons from the limited production caused by insufficient reserves in May and increase the inventory of raw materials ahead of time in the upward copper price market. Therefore, the proportion of overall raw material inventory has increased.

It is estimated that the operating rate of copper pipe enterprises will be 87.22% in July.

According to a survey by SMM, the operating rate of copper pipe enterprises is expected to be 87.22% in July, down 2.06% from the previous month and up 6.98% from a year earlier. Most companies report that their orders are now scheduled for the first ten days of July, but there are still expectations of a decline in orders in the second half of July. Since the new air-conditioning energy efficiency standards were officially implemented on July 1, although large air-conditioning enterprises have little impact by virtue of their technological advantages, some small and medium-sized air-conditioning plants may face the throes of technological innovation in the second half of the year. Busy with inventory in hand to reduce the number of orders. As a result, SMM expects the copper tube operating rate to decline month-on-month in July.

(SMM Zhu Ruoyi)