SHANGHAI, Jun 13 (SMM) – The operating rate across China’s copper tube/pipe producers inched up 3.59 percentage points from April to stand at 94% in May amid a high season of consumption, SMM research found. The rate gained 4.36 percentage points over the past 12 months.
Some producers told SMM that they received fewer orders in June. We expect that the operating rate at China’s copper tube/pipe producers will decrease 4.2 percentage points to 89.7% in June, in line with the level a year ago.
Meanwhile, the operating rate at China’s copper plate/sheet, strip and foil producers failed to meet expectations and stood at 79.2% in May, down 1.54 percentage points month on month but up 7.73 percentage points year on the year, SMM research found.
Some producers attributed the month-on-month decline to weaker consumption, with fewer orders from electric products and the auto sector.
We expect the operating rate at China’s copper plate/sheet, strip and foil producers to come in at 77.6% in June, down 1.57 percentage points on the month but up 6.16 percentage points on the year.