Falling demand from home appliances, cars slows operation across copper rods processors in Jun

From news.metal.com

Operating rates across Chinese copper rod manufacturers with copper cathode as feedstock averaged 75.65% in June, down 6.05 percentage points from May, dragged by weaker enamelled wire orders from downstream sectors of home appliances, cars, and transformers, an SMM survey showed on Friday July 5. On a year-over-year basis, rates also slid 5.41 percentage points in June. This was despite greater orders for submarine cables as well as communication wires and cables, which were driven by the 5G sector. To improve cash flows, copper rod producers slowed operation and cleared inventories, which also weighed on the ... (full story)