Magnet Wire

SMM Survey on the National Day Holiday Arrangements of Copper Processing Companies in 2022

Enamelled wire: The enamelled wire industry remained sluggish in 2022. The operating rates of enamelled wire producers were low, but their in-plant inventories of finished products stood high. At present, many downstream companies are bearish on copper prices. Due to the poor demand, the downstream pre-holiday restocking cannot reach expectations. Many enterprises such as motor factories and home appliance factories are going to have a holiday. Therefore, the holiday time of enamelled wire companies in 2022 will be longer than in previous years, and more companies plan to have a holiday.

According to SMM survey on the domestic major aluminium processing enterprises, their operating rates will vary during the National Day holiday, depending on their orders. Most of the small and medium-sized enterprises will close for 3-7 days for the holiday, while larger ones will take a shorter or even no break.   In terms of sectors, enterprises in the aluminium plate/sheet, strip, foil and primary aluminium alloy sectors will maintain stable operations during the holiday, while those in the aluminium extrusion and secondary aluminium alloy sectors will generally take a break. Lower aluminium prices drove downstream enterprises to stock up ahead of the holiday, but most restocked only as needed. The aluminium ingot social inventories across China’s eight major markets totalled 619,000 mt as of September 29, a drop of 47,000 mt from a week ago and 33,000 mt from this Monday September 26. The figure was also 198,000 mt lower than a year ago and 57,000 mt less than that at the end of August. The domestic aluminium billet inventory dropped 26,000 mt from a week ago to 80,100 mt as of September 29.