Copper Enamelled Wire Market: Increased Production and Orders but Concerns Remain [SMM Analysis]

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       This week, SMM conducted a survey on the production and new orders of 15 domestic enamelled wire enterprises of varying scales. Overall, the industry's machine operating rate was 83.7%, rebounding 10.5% WoW.

       According to SMM, the machine operating rates of most enterprises have largely returned to normal levels this week. Only a few enterprises, due to sufficient pre-holiday finished product inventory, have not yet fully resumed normal production rhythms. SMM expects the operating rate of the enamelled wire industry to see a slight rebound next week.

       On the order side, new orders continued to rebound this week, with 80% of enterprises reporting an increase in orders WoW. Weekly order volumes for the 15 enterprises grew 9.61% WoW. After the Lantern Festival, downstream enterprises have fully resumed orderly production, with production rhythms gradually returning to normal, and market demand showing a significant improvement WoW. Additionally, spot copper prices pulled back slightly this week, improving downstream purchasing sentiment, with daily order-taking volumes for some enterprises approaching peak season levels. However, some customers reported that order growth fell short of expectations, particularly in the industrial motor sector, where order growth remained sluggish. Currently, orders in the home appliance, power transformer, and auto parts-related sectors are moderate, while demand in other segments shows mediocre performance. Due to factors such as rising copper prices, the recovery trend in the enamelled wire market exhibits certain uncertainties.