2021 CNY holiday plans at Chinese copper processors

SHANGHAI, Feb 3 (SMM)—SMM surveyed 37 copper processors about their 2021 Chinese New Year (CNY) holiday plans, with total capacity of 5.29 million mt/year and total copper consumption of 119,763 mt.

Copper rod producers: SMM learned that most of the small and medium-scale copper rod producers started the CNY holiday from mid-January or early February, while large-scale producers from early February. Only a few leading producers will begin the holiday two days before the New Year's Eve on February 11, and encourage their employees to stay where they work for Spring Festival to reduce the possibility of being infected with COVID-19. Generally, copper cathode rod plants close about five days earlier than previous years for the CNY holiday. Most of them are reluctant to restock raw materials and will focus on depleting existing inventories of finished products after the holiday. 

Copper bar producers: Large-scale copper bar makers keep their 2021 CNY holiday plans unchanged compared with previous years. With stable orders from the water heating sector, some bar producers have already scheduled production to the end of Q1. 

Copper plate, strip and foil producers: Copper plate, strip and foil producers will operate normally during the CNY holiday due to robust orders in a high season, and they will provide subsidies to employees.   

Copper tube producers: Due to year-end robust export orders, copper tube producers have scheduled production to end Q1 or early Q2. Large-scale plants will make workers have two days off by turns around the New Year's Eve to maintain normal operation during the holiday. 

Wire and cable producers: Slumping new orders in a low season prompted small and medium-scale wire and cable producers to start the CNY holiday from end January or early February, about one week earlier than previous year. They keep raw materials that can guarantee production for 3-5 days. Meanwhile, large-scale producers mostly take 10 days off for the holiday, while a few makers which rush to complete orders for the State Grid will only take 3 days off. 

Enamelled wire producers: Many enamelled wire producers have already scheduled production to the end of Q1 due to robust orders, and most of them will start a one-week holiday two days before the New Year's Eve.