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This week, SMM conducted a survey on the production and new orders of 15 domestic enamelled wire companies of varying scales. Overall, the industry's machine operating rate was 68.7%, down 0.96% WoW.
With the Chinese New Year holiday approaching, more migrant workers are taking leave and returning to their hometowns, leading enamelled wire companies to gradually reduce or halt production. This has caused the industry's machine operating rate to continue declining. From the consumption side, downstream customers of enamelled wire also began their holidays this week, resulting in a continued drop in demand for enamelled wire. According to SMM, new orders decreased for 11 companies this week, with industry-wide new orders down 12.08% WoW. As the Chinese New Year holiday approaches, demand is expected to continue declining next week, and new order volumes will decrease accordingly. Additionally, most enamelled wire companies will fully suspend production and take holidays starting next Friday, at which point the industry's machine operating rate will drop further.
Notably, the home appliance sector has shown strong demand this year, surpassing levels seen in previous years. Related enamelled wire companies have recently maintained robust order volumes. To meet downstream customer demand, these companies will continue normal production operations during the Chinese New Year holiday.
