SHANGHAI, Jan 12 (SMM) - The secondary copper rod companies included in SMM research are located in seven provinces, involving 2.1 million mt of production capacity. The details of their holiday arrangements are as follows:
In general, the secondary copper rod factories will take the CNY holidays 5-7 days earlier than in previous years. Most factories will gradually halt their production this week, especially some small and medium-sized producers. This is mainly because the downstream demand for secondary copper rods were more sluggish in 2022 than in previous year due to the impact of the covid-19 pandemic. The restocking activities were depressed, and some small copper wire and cable plants have even take the CNY holiday in advance. In addition, some secondary copper rod producers were more optimistic about the market after the holiday, so they refrained from taking new orders before the Chinese New Year, according to SMM survey. It is also learned that the inventory of finished products in some secondary copper rod producers has reached a relatively high level to date. The vast majority of the producers will resume operation since January 29. In previous years, trading activities in the secondary copper raw material market usually restore after the Chinese Lantern Festival (February 5 this year) , so before the holiday, some secondary copper rod producers tended to stock raw materials that would sustain their production for about seven days.