Operating rates at copper semis plants unexpectedly rose in October but will fall back in November

China’s copper semis output in October is estimated at 2.03 million mt, up 0.79% month on month. Operating rates in the copper semis industry stood at 75.76% in October, up 0.74 percentage point month on month and 4.98 percentage points year on year.

The operating rate of each copper semis sector in November is expected at: copper plate/sheet and strip sector (80.52%)> copper rod sector (74.17%)> copper pipe sector (72.87%). The average operating rate in the copper semis industry is expected to stand at 75.18%, down 0.58 percentage point monthon-month, but up 4.21 percentage points yearon-year. Lower operating rates of copper rod plants using copper cathode as raw material will be the main reason for the decline in operating rates of the copper semis industry, as the operating rates of the other two sectors will rise slightly.