SMM

      In the first week after returning from the Chinese New Year holiday, enamelled wire companies mostly resumed work and production as planned. Most companies have started running and testing their equipment, and normal production rhythms are expected to fully resume next week. Regarding orders, the market showed relatively sluggish performance this week. Companies indicated that the market is just beginning to recover, but rising copper prices may somewhat suppress orders. However, downstream enamelled wire companies related to home appliances and NEVs expressed optimism about orders for the first quarter. Overall, enamelled wire companies have just started resuming work and taking orders this week, while some downstream companies have yet to resume operations. The enamelled wire industry remains in an abnormal state, with the market showing relatively sluggish performance.