Year-End Countdown: What Changes Occurred in New Orders for the Copper Enamelled Wire Industry This Week? [SMM Analysis]

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        This week, the SMM survey covered the production and new orders of domestic large, medium, and small enamelled wire enterprises. Overall, the machine operating rates of these enterprises remained at 70-90%, aligning with expectations.

        From the perspective of end-use demand, the home appliance, NEV, and power transformer sectors performed exceptionally well, especially the home appliance sector, which showed a stronger-than-expected boost to enamelled wire demand. Additionally, concerns over increased export tariffs in 2025 have led to a noticeable "rush to export" phenomenon downstream. Some surveyed enterprises reported that downstream home appliance customers' demand for enamelled wire has surpassed the levels of the same period in previous years.

        According to the survey results, influenced by year-end factors and copper price fluctuations, new orders for enamelled wire enterprises declined WoW this week. Four enterprises indicated a decrease in new orders this week, but the decline was relatively small. Meanwhile, 67% of enterprises reported that their new orders remained unchanged WoW.

        New orders for enamelled wire enterprises are expected to continue declining next week. Some enterprises expressed pessimism about order volumes after New Year's Day, with five enterprises indicating that new orders will further decrease next week.

    (Surveyed enterprises: 15, capacity: 683,000 mt)