New Orders in the Enamelled Wire Industry Declined MoM in the First Week of the New Year [SMM Analysis]

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        This week, the SMM survey covered the production and new orders of 15 domestic enamelled wire enterprises of various sizes. Overall, the machine operating rate remained at 80%, down 0.23% WoW.

        According to the survey, this week coincided with the year-end and New Year holiday. Due to inventory checks, account settlements, and other factors, new orders for enamelled wire enterprises and downstream sectors were affected to some extent. Coupled with weaker year-end demand, six enterprises reported a decline in new orders this week. However, some enterprises noted that the center of copper prices shifted downward, leading to an increase in new orders at the end of the week. Additionally, as the year-end approaches, enterprises have a demand for stockpiling, which kept the machine operating rate near 80%.

        From the perspective of end-use demand, there was relatively little change compared to last week. Orders in sectors such as power transformers, home appliances, and NEVs continued to perform well, and it is expected that these sectors will maintain strong order momentum through year-end.

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