SMM Copper Wire and Cable Operating Rate Drops Amid High Prices

This week, the operating rate of SMM copper wire and cable enterprises fell to 63.71%, down 2.93 percentage points from last week and 3.91 percentage points year-over-year.

Copper prices continued to fluctuate at high levels throughout the week, suppressing downstream order releases. As a result, wire and cable manufacturers' willingness to stockpile raw materials weakened, with days of raw material inventories decreasing by 2.93% from last week.

Weak end-use demand and insufficient willingness to pick up goods also drove an increase in finished product inventory levels, rising 2.63% from the previous week.