Copper Pipe and Tube Operating Rates Rise in March Amid Domestic Demand

Copper Pipe and Tube Operating Rates Rise in March Amid Domestic Demand

China: According to Shanghai Metals Market data, the operating rate of copper pipe and tube enterprises reached 82.45 per cent in March, increasing by 23.71 percentage points month-on-month but declining by 2.78 percentage points year-on-year. The rise in operating rates was linked to a decline in copper prices during the month, which led end-users to secure purchases in advance. Despite continued uncertainty in the geopolitical situation in the Middle East, domestic stockpiling for air conditioners proceeded without disruption.

Large enterprises reported a decline in export orders for air conditioning tubes, noting that a clearer trend in order performance is expected once geopolitical conditions stabilise. Demand from the European market remained weak. Production during the month was largely supported by domestic sales among large enterprises, while medium-sized enterprises maintained relatively higher operating rates due to stockpiling activity in maintenance markets ahead of the peak season.

Source: SMM Information & Technology