2026 National Day Holiday Survey on Copper Processing Enterprises' Shutdowns—Enamelled Wire [SMM Analysis]

       As the National Day holiday approaches, enamelled wire enterprises have completed their production plans and holiday arrangements for the holiday period. SMM conducted a survey on the holiday operating status of some enamelled wire enterprises and compiled the findings. This SMM survey covered 10 enamelled wire enterprises with a total annual capacity of 551,000 mt. The following are the holiday arrangements of some enterprises:

Data source: SMM survey compilation

       The 2026 National Day holiday arrangements for enamelled wire enterprises are largely unchanged compared with 2025, but the divergence in production plans among enterprises is pronounced. Most enterprises maintained continuous workshop operations, organizing production through rotating shifts and reduced loads to ensure delivery of orders on hand; some enterprises flexibly arranged holidays based on their own order conditions. Against the backdrop of weak demand from the home appliance sector, the holiday and production cut intensity of related enterprises exceeded market expectations. Coupled with the disruption of high copper prices before the holiday, some enterprises under order pressure chose to take a concentrated holiday of 2-5 days, using the opportunity to adjust production pace and ease operating pressure.

       As the National Day holiday approaches, enamelled wire enterprises have largely completed raw material stockpiling according to their production schedules. During the holiday, enamelled wire enterprises maintained normal shipment pace, but stockpiling plans varied. From the survey, the high copper prices and high premiums before the holiday led enterprises to adjust their stockpiling and production strategies compared with previous years:Copper rod supply in south China was tight, and local enamelled wire enterprises hedged raw material pressure by adjusting shipment pace and optimizing production schedules, maintaining a cautious approach to raw material and finished product stockpiling overall; in east China, raw material procurement costs were relatively controllable, but enterprises still had concerns about procurement costs and inventory risks, and their stockpiling attitude was similarly conservative.

       Looking ahead to post-holiday consumption, most enterprises still hold expectations for demand release in October, hoping that as the traditional consumption period approaches and downstream industries gradually enter their peak production season, enamelled wire orders will grow; however, many enterprises also expressed concerns about the market recovery expectations after mid-October. On one hand, high copper prices will suppress end-use demand and increase downstream procurement cost pressure; on the other hand, the terminal home appliance industry, an important application field for enamelled wire, is seeing a slow demand recovery pace, and related enterprises indicated that demand in October will remain difficult to warm up. Overall, the industry holds cautious expectations for October demand, watching post-holiday copper price performance and end-use demand recovery.