2024 National Day Holiday Copper Processing Enterprises Holiday Survey - Enamelled Wire [SMM Analysis]

As the National Day holiday approaches, enamelled wire enterprises completed their production plans and holiday arrangements. SMM conducted a survey on the holiday operating conditions of some enamelled wire enterprises and compiled the results. This SMM survey involved 13 wire and cable enterprises with a total annual capacity of 649,000 mt. Below are the holiday arrangements for some enterprises:

With the National Day holiday approaching, enamelled wire enterprises completed raw material restocking according to the production schedule this week. During the holiday, enamelled wire enterprises will deliver normally, but production plans vary. According to the survey, due to relatively weak industry orders and the surge in copper prices before the holiday affecting downstream purchasing sentiment, enamelled wire enterprises do not have sufficient orders on hand. Therefore, most enamelled wire enterprises plan to take a 3 to 4-day holiday, with some taking 7 days off. Top-tier enterprises will not take a holiday but will reduce the operating rate. Overall, the holiday situation in the enamelled wire industry this year has not changed much compared to last year.

Additionally, enamelled wire enterprises have mixed expectations for October consumption. From the current survey, medium-sized and large enterprises believe that October orders will be better than September, especially downstream home appliance orders, which are expected to improve MoM. However, the operating rate is expected to remain largely unchanged YoY. Small enterprises believe that current demand is still insufficient, and the significant rise in copper prices will also have a noticeable suppressive effect on consumption. Combined with the long National Day holiday, the operating rate in October is expected to be weaker than in September.