During this week (8.16-8.22), the operating rate of SMM copper wire and cable companies was 93.54%, down 0.12 percentage points MoM, and 1.38 percentage points lower than the expected operating rate. According to SMM, copper prices fluctuated upwards this week, and wire and cable company orders showed mixed performance. Customers in south China showed a clear buying sentiment, while companies in other regions reported that some customers had resumed a wait-and-see attitude, dragging down this week's operating rate. Only a few large companies reported strong orders this week, unaffected by copper prices. Most companies indicated that demand was unstable and market orders were easily disturbed by copper prices. Additionally, high temperatures and heavy rain in many parts of the country interfered with end-user construction, further weakening already sluggish real estate and infrastructure orders. The current market competition is fierce, and order concentration is becoming more apparent. In east China, only a few leading companies saw slow order growth, while most companies' orders remained precarious.
This week, the raw material and finished product inventories of SMM copper wire and cable sample companies recorded 23,020 mt and 18,070 mt, respectively, with MoM changes of +0.04% and -1.47%, showing little change.
SMM expects the comprehensive operating rate of wire and cable companies to be 94.39% next week (8.23-8.29), an increase of 0.85 percentage points MoM. Supported by the operating rate of a few large companies in the sample, the operating rate of SMM copper wire and cable companies still has room for upward growth. However, overall downstream demand remains unstable, and many small and medium-sized companies in various regions have encountered bottlenecks in order growth. SMM expects the growth rate of future orders to gradually slow down.
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