As the mid-year approaches, copper cathode rod enterprises strive to maintain production, yet finished product inventories have increased for four consecutive weeks [SMM Copper Cathode Rod Weekly Review]

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       Copper cathode rod: The weekly (6.13-6.19) operating rate of major domestic copper cathode rod enterprises rose to 75.82% MoM, up 2.60 percentage points MoM, 0.77 percentage points lower than the expected value, and 5.67 percentage points higher YoY. As the mid-year approaches, many copper cathode rod enterprises need to fulfill their semi-annual production plans, putting repeated pressure on copper cathode rod processing fees to ensure production. Meanwhile, with the resumption of production at some enterprises, the weekly operating rate of copper cathode rod enterprises rose MoM. In terms of specific inventories, this week, the high premium persisted, and raw material stocking decreased. The raw material inventories of copper cathode rod enterprises decreased by 3.08% MoM, recording 34,650 mt. Currently, end-use demand remains weak, putting pressure on the operating rate of wire and cable enterprises. This week, the finished product inventories of copper cathode rod enterprises continued to increase by 7.38% MoM, recording 68,350 mt. Looking ahead, copper prices are expected to fluctuate at highs, and there are no signs of improvement in end-use demand. It is expected that next week, the operating rate will only rise slightly by 0.41 percentage points to 76.23% with the support of mid-year plans, up 7.21 percentage points YoY.