Operating Rate of Copper Enamelled Wire Industry Drops to a Low Level, Holiday Mode to Begin Next Week [SMM Analysis]

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       This week, SMM conducted a survey on the production and new orders of 15 domestic enamelled wire enterprises of different scales. Overall, the industry's machine operating rate was 56%, down 12.7% WoW.

       According to SMM, many small enamelled wire enterprises have already started their holidays, while medium-sized and large enterprises are planning to suspend production for inventory checks and cleaning before the holiday. This week, new orders in the enamelled wire industry cooled rapidly, with 67% of the 15 surveyed enterprises reporting a decline in new orders, and the volume of new orders decreased by 17.54% WoW. However, demand for enamelled wire from downstream NEV and home appliance sectors remained strong. Relevant enamelled wire manufacturers continued normal production this week and plan to maintain production during the Chinese New Year holiday to ensure timely delivery of orders, with no holiday arrangements.

      With logistics halting, the enamelled wire industry is expected to fully enter holiday mode next week, and enterprises are expected to resume production as early as February 5.