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Operating rates at copper rod producers using copper cathode as raw material registered a new low in April

iconMay 12, 2021 14:36
Source:SMM
Operating rates at copper rod producers using copper cathode as raw material gained 2.37 percentage points on the month but dropped 12.7 percentage points on the year to 70.59% in April, a new low since 2016, according to an SMM survey of 41 producers with total capacity of 10.8 million mt/year.

SHANGHAI, May 12 (SMM)—Operating rates at copper rod producers using copper cathode as raw material gained 2.37 percentage points on the month but dropped 12.7 percentage points on the year to 70.59% in April, a new low since 2016, according to an SMM survey of 41 producers with total capacity of 10.8 million mt/year. Operating rates stood at 70.74% across big plants, 74.79% across medium-scale producers and at 38.86% across small plants.

Operating rates at wire and cable producers hovered at low levels in April as high copper prices curbed power consumption, and this, together with secondary copper rod that has larger advantages on prices, weighed on consumption of copper cathode rods. Most of the copper cathode rod makers had to reduce production to slow down the rise in finished products inventories. 

The ratio of finished product to total production stood at 6.22% in April, down 2.02 percentage points month on month. High copper prices made copper cathode rod producers to restock raw materials only as required. 

Operating rates at copper rod producers are expected to dip 0.14 percentage point month-on-month to 70.45% in May. Many small and medium-scale wire and cable plants were off for a few days as copper prices continued to climb in May.

Operating rates
Copper cathode rod

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