Enamelled Wire Industry Enters Holiday Mode, Operating Rates to Drop to Low Levels Next Week [SMM Enamelled Wire Market Weekly Review]

   This week (February 6–12), the operating rate of the enamelled wire industry dropped 10.27 percentage points to 73.53% MoM, while new orders pulled back 19.12 percentage points MoM. As the Chinese New Year holiday approached, new orders in the industry cooled significantly, and the production pace of enterprises continued to slow down. According to SMM, some companies began their holiday as early as Wednesday this week. Coupled with the gradual suspension of logistics, pre-holiday stockpiling by enterprises was largely completed. This week, the days of inventories for finished products rose to 9.71 days. It is expected that the industry will fully enter holiday mode next week, with only a few companies maintaining reduced production. The operating rate of enamelled wire is projected to fall to 25.67%.