![](https://static.metal.com/common.metal.com/images/header-en/downward.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/arrow_right_black.png)
![](https://static.metal.com/common.metal.com/images/header-en/downward.png)
This week, the SMM survey covered the production and sales conditions of major domestic medium and large copper rod makers. The comprehensive operating rate was 80.92%, up 6.03 percentage points MoM, exceeding the expected value by 1.11 percentage points, and up 11.59 percentage points YoY. (Surveyed enterprises: 21, capacity: 7.83 million mt)
This week, copper prices stabilized after a period of decline, and downstream orders continued to be released steadily. Meanwhile, with the supply of secondary copper rod remaining low, the substitution of copper cathode for scrap copper brought more new orders to copper cathode rod makers. During the week, some companies in Jiangsu reported receiving new orders from customers in the northern and southern regions. Consumption showed continuous improvement, and most copper cathode rod makers increased their confidence in future consumption.
Inventory side, as large enterprises resumed production this week, copper cathode rod makers' raw material inventories increased by 17.63% MoM to 38,700 mt, while finished product inventories decreased by 5.53% MoM to 59,800 mt due to both stock consumption and demand-driven destocking.
Looking ahead to next week, this week two large companies experienced reduced operating days due to equipment issues. It is expected that the total number of operating days will increase next week with stable consumption anticipated, and the operating rate of copper cathode rod makers is expected to rise to 81.35%.
For queries, please contact William Gu at williamgu@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn