SHANGHAI, Mar 25 (SMM) - With the escalation of pandemic controls in various regions, copper downstream consumption has taken a hit. SMM has surveyed copper processing companies under the influence of rising copper prices disruptions from the pandemic.
Wire and cable: Consumption remained weak this week, and new orders showed signs of decline. Continuously rising copper prices discouraged end users from placing orders. The pandemic in many regions has not been effectively controlled, putting financial pressure on wire and cable companies. Companies were forced to focus on sales to nearby customers. The pandemic also hindered the shipments of finished products and raw materials. Some producers had to delay their deliveries and slowed down production.
Enamelled wire: The pandemic continued to hurt the consumption of enamelled wire, and the orders fell from the same period in previous years. Orders in Dongguan and Shenzhen improved after the COVID-induced lockdowns were lifted. However, the pandemic situation in Jiangsu and Zhejiang was severe. Changzhou, Shanghai, Kunshan and other regions stepped up pandemic containment measures, forcing many companies to stop production. Small and medium-sized companies were the most affected.
Disclaimer:
The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.
