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As the 2025 Chinese New Year approaches, many enterprises have already finalized their Chinese New Year break arrangements and plans. SMM has compiled a summary of holiday schedules for some wire and cable enterprises as follows:
Data Source: SMM
According to SMM, the production break duration for wire and cable enterprises during this year's Chinese New Year ranges from 11 to 16 days, with South China leading the nation. Notably, due to the shorter interval between New Year's Day and Chinese New Year this year compared to previous years, coupled with significant fluctuations in copper prices recently, downstream customers' purchasing sentiment before the holiday has been noticeably affected. Many wire and cable enterprises reported a significant reduction in orders before the holiday, with customers waiting to resume purchases after the holiday. As a result, the holiday period for some wire and cable enterprises this year has been extended by 1 to 3 days compared to last year. In terms of holiday start dates, some enterprises will begin their break as early as January 20, while most will start their holiday from January 23 to 25. The majority of enterprises are scheduled to resume work on February 5.
Regarding pre-holiday stockpiling, wire and cable enterprises have shown less enthusiasm compared to previous years. According to SMM, most enterprises are only conducting routine inventory replenishment, with many adopting a cautious wait-and-see approach under high copper prices, and only a small amount of stockpiling is being carried out.
Overall, due to the dual impact of orders and copper prices, some wire and cable enterprises have extended their 2025 Chinese New Year holiday. For the post-holiday period, most wire and cable enterprises do not hold high expectations, anticipating a slow recovery in the short term. Although the eighth day of the lunar calendar marks the official resumption of work for most enterprises, differences in worker return times mean that many enterprises expect to return to normal levels only after the Lantern Festival. By industry, the market holds relatively high confidence in power grid and electricity-related orders, while new energy power generation orders have shown signs of divergence. Meanwhile, real estate and infrastructure-related orders are unlikely to see improvement in 2025. Additionally, high copper prices are accelerating the development of aluminum as a substitute for copper, which will exert certain impacts and pressures on copper wire and cable.
