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This week, SMM conducted a survey on the production and new order status of enamelled wire enterprises of different scales in China. Overall, the industry's machine operating rate was 87.4%, rebounding 0.37% WoW.
According to SMM, with the accelerated pace of downstream cargo pick-up, finished product inventories at enamelled wire enterprises have decreased to normal levels. In terms of orders, new orders this week slightly increased WoW (weekly order volume grew by 5.12%), with daily order volumes at some enterprises approaching peak season levels. The machine operating rate of enamelled wire enterprises continued to rebound.
From the perspective of end-use demand, recent order growth has been mainly driven by the home appliance, auto parts, and power transformer sectors, while demand in the industrial motor and two-wheeler sectors remained weak. Due to concerns over high copper prices and demand, the enamelled wire market has shown some uncertainty. However, based on current orders, demand growth in the home appliance sector remains moderate. Relevant enamelled wire enterprises revealed that orders are currently scheduled until late March, with sufficient orders on hand. March is traditionally the peak season for the enamelled wire industry, and with strong demand from the home appliance sector, the industry's order volume in March is expected to maintain typical peak season levels.
