Copper Prices Pull Back, Driving a Slight Increase in Orders; Weekly Operating Rate Rebounds to 78.27% [SMM Enamelled Wire Market Weekly Review]

       This week, the enamelled wire industry operated steadily overall without significant fluctuations. Enterprises adjusted their production pace slightly in response to order variations, and the equipment operating rate rebounded by 0.6 percentage points WoW to 78.27%. At the beginning of the week, the center of copper prices pulled back, prompting end-use customers to place orders and restock, driving weekly new orders up by 0.91 percentage points WoW. Meanwhile, downstream cargo pick-up pace accelerated, improving the turnover efficiency of finished product inventories and reducing days of inventories to 8.42 days. End-use demand side, orders for new energy vehicles and transformers remained stable, while home appliance orders continued a slight recovery. However, the combined impact of the year-end period and high copper prices continued to suppress demand. The industry's operating rate is expected to rebound slightly to 78.33% next week.