2026 SMM National Day Holiday Processing Enterprise Holiday Survey - Copper Plate/Sheet and Strip [SMM Analysis] [SMM Analysis]

          With the National Day holiday approaching, SMM surveyed the production plans of 10 large, medium, and small copper plate/sheet and strip enterprises, involving a total annual capacity of 1.24 million mt. The specific holiday arrangements are as follows:

      In 2026, the overall National Day holiday duration for copper plate/sheet and strip enterprises was shorter than last year. Specifically, large and medium-sized copper plate/sheet and strip enterprises maintained the industry's characteristic of continuous production, with most not scheduling centralized shutdowns during the holiday and keeping workshops running continuously. A small number of small and medium-sized enterprises arranged short breaks of 2-4 days based on their own order pace, and no enterprise experienced long-term production halts. On the stockpiling front, enterprises generally carried out pre-holiday stockpiling in line with orders on hand and production schedules. Most enterprises maintained a normal stockpiling pace, but due to capital risk considerations arising from high copper prices and high premiums, some enterprises adopted a more cautious stockpiling strategy than in previous years, proactively controlling the scale of raw material stockpiling to avoid price fluctuation risks.

    On the demand side, although high copper prices combined with high premiums exerted some pressure on downstream purchasing, end-use demand showed strong resilience. During the copper price pullback in mid-September, concentrated downstream replenishment drove a surge in order-taking by enterprises, and most enterprises currently have ample orders on hand. October, as the traditional peak season for the copper plate/sheet and strip industry, is expected to see continued recovery in end-use demand. Although high-priced raw materials will still constrain demand release to some extent, ample orders on hand provide strong support, and the industry remains confident in the peak season materializing, maintaining an overall cautiously optimistic outlook.