Copper Cathode Rod Producers See Slight Recovery Amid Weak Demand

The operating rate of copper cathode rod producers has increased by 1% week-over-week (WoW), according to recent data from Shanghai Metals Market. This slight recovery in production rates is attributed to some post-maintenance production resumptions. However, the market remains in the off-season for consumption, and copper prices are consolidating at highs, which has suppressed purchase willingness among downstream manufacturers.

Despite the increase in operating rates, overall order performance was weak, and end-user demand for wire and cable, as well as enamelled wire, was insufficient. The market sentiment remains cautious, with downstream manufacturers adopting a wait-and-see approach. This trend suggests that copper prices may remain stable in the short term.