New Orders Declined, Operating Rate Pulled Back to 87.8% [SMM Weekly Review of the Enamelled Wire Market]

This week (March 27–April 2), the operating rate of machinery in the enamelled wire industry pulled back as expected by 8.65 percentage points to 87.8%. During the week, the center of copper prices rebounded somewhat, and with home appliance demand continuing to weaken, new orders also pulled back by 8.65 percentage points. However, demand in sectors such as power, two-wheelers, and new energy remained steady, and some enterprises still had ample production schedules. Inventory side, downstream pick-up goods pace slowed down, and days of finished product inventories rebounded to 7.62 days. Next week is the Qingming Festival, and enterprises' production pace is expected to be adjusted downward somewhat as orders weaken, with the operating rate continuing to pull back to 86.73%.