Demand Was Concentrated and Released, with Both the Industry Operating Rate and Orders Rising This Week [SMM Enamelled Wire Market Weekly Review]

        This week (March 13–March 19), the operating rate of machinery in the enamelled wire industry rebounded 3.8 percentage points WoW to 88.93%; new orders recovered sharply, up 24.97 percentage points WoW, with the core driver coming from the concentrated release of downstream demand amid falling copper prices. According to SMM, copper prices pulled back at the end of the week, significantly lifting the willingness of downstream enterprises to purchase and place orders, with orders released in a concentrated manner, which in turn boosted the industry's operating rate significantly higher. Inventory side, falling copper prices accelerated the pace of downstream cargo pick-up, while spot shipments were relatively tight at some enterprises, bringing days of finished product inventories in the industry down to 7.28 days. End-use demand improved across the board, with home appliance orders maintaining peak-season momentum, stable demand for power transformers, better demand in the new energy sector, and traditional industrial motor and power tool orders also remaining in good shape, leaving the overall enamelled wire market in line with peak-season expectations. Supported by a high production schedule, the industry's operating rate is expected to continue rebounding to 89.98% next week.