SMM copper wire and cable enterprises' operating rate rose to 65.8%, up 3.55% MoM
This week (August 14-August 20), the operating rate of SMM copper wire and cable enterprises came in at 65.8%, up 3.55 percentage points WoW and down 3.08 percentage points YoY. Copper prices retreated from highs during the week, which briefly boosted downstream cargo pick-up willingness. However, bearish sentiment re-emerged in the later period, keeping downstream players on the sidelines. Overall orders only showed marginal recovery. The sharp rebound in the operating rate this week was also affected by the low base in the prior week.