Home appliance sector continues to be weak, with weekly operating rates showing a pullback [SMM Weekly Review of Enamelled Wire Market]

      According to SMM data, the operating pace of the enamelled wire industry slowed slightly this week, with the machine operating rate dropping slightly by 0.2 percentage points MoM to 80.8%, and the volume of newly taken orders declining by 0.37 percentage points synchronously. Both indicators for machine operation and order taking showed a pullback trend.The machine operating rate this week fell short of expectations, mainly due to a significant decline in orders from the home appliance sector, which directly dragged down the industry's operating rate. From the perspective of new orders, downstream ordering performance was mixed this week. The drop in copper prices drove downstream cargo pick-up and ordering at the beginning of the week, but some customers were cautious in purchasing due to bearish expectations on copper prices, resulting in relatively few orders. In terms of inventory, the decline in copper prices accelerated the pace of downstream cargo pick-up, driving the days of finished product inventories for enamelled wire enterprises down to 9.43 days, further alleviating inventory pressure.On the terminal side, orders from the home appliance sector remained weak, while NEVs showed a trend of improvement during the peak season.Overall, with the assistance of the decline in copper prices this week, the order performance of the enamelled wire industry was moderate, but the sustainability is not optimistic.SMM expects that the machine operating rate of the enamelled wire industry will slightly decrease to 80.73% next week.