Copper Price Rise Slows Wire and Cable Industry Amidst Off-Season

The Chinese wire and cable industry is expected to experience a decline in production due to rising copper prices. The traditional consumption off-season, which typically occurs during this time, has been exacerbated by the recent increase in copper prices. As a result, downstream order signing willingness has decreased, leading enterprises to lower their production loads.

In anticipation of next week's operating rate (July 31-August 6), SMM predicts a decline of 1.5 percentage points WoW to 64.44%, as well as a 1.5 percentage point drop YoY. This decrease in operating rate is attributed to the decreased demand and lower production levels.