SHANGHAI, Feb. 10 (SMM) – The average operation rate at the 23 Chinese wire & cable producers, representing 1.40 million mt/yr in capacity, tumbled in January, according to SMM survey.
SMM survey finds the rate at those surveyed was 49.12 percent in January, down 21.92 percentage points year-on-year and 28.91 percentage points month-on-month.
The big drop in the rate was due mainly to production halts for the holiday, which was longer than past years, and off-demand season.
The high base in January 2016 was another reason behind the decline, as the 2016 Chinese New Year holiday fell in February.
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