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Operating rates at domestic copper tube producers stood at 62.67% in February, 20.04 percentage points lower month on month but 23.61 percentage points higher year on year, according to an SMM survey of 22 producers with total capacity of 2.27 million mt/year. Please sign in to continue reading the full article for free Already registered? Sign in
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Operating rates of blast furnaces at Chinese steel mills dropped 1.2 percentage point from a week ago and 1 percentage point from a month ago to 85% as of March 11, SMM survey showed.
SMM has surveyed 41 aluminium processing enterprises across 12 provinces. Operating rates across major aluminium processors increased 9 percentage points from a week ago to 69.1% last week. Most aluminium aluminium processing enterprises began to reduce inventory and restocked as needed amid rising aluminium prices. Aluminium plate, strip, foil and industrial extrusion producers reported heavy backlog orders and maintained high operating rates. Please sign in to continue reading the full article for free Already registered? Sign in
Operating rates did not rise sharply as higher costs driven by copper price gains post-CNY holidays shrank profits. Companies reported limited new orders even as copper prices continued to fall last week. New engineering projects have been low post-CNY holidays, while some of the enterprises remaining in operations were ending construction of projects scheduled for the end of last year, lowering purchases of cables significantly. However, with the stability of copper prices and the increase in engineering projects in late March, operating rates at cable companies are expected to recover to around 70%.
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Operating rates across licensed smelters of secondary lead in Jiangsu, Anhui, Henan and Guizhou averaged 49.2% in the week, down 4.1 percentage points from the previous week, an SMM survey showed.
The average operating rate of blast furnaces (BFs) at Chinese steel mills gained 1.1 percentage points from pre-holiday levels to 87.1% as of February 25. This was 3.2 percentage points higher than the same period last year. Please sign in to continue reading the full article for free Already registered? Sign in