SMM

      On a WoW basis, the operating rate of enamelled wire industry machines slightly decreased by 0.27 percentage points to 78.13%; new orders also declined by 0.13 percentage points, with the industry still in an off-season adjustment period, and demand for round and flat wires continuing to diverge. Specifically, demand for flat wires remains robust, with stable and positive orders in related new energy and transformer sectors; while demand for round wires is still weak, with sluggish order growth due to unimproved home appliance market demand. Some enamelled wire companies indicated that they expect orders to recover after mid-September. Inventory side, inventory pressure in the industry continues to ease, with finished product inventories of enamelled wire companies further dropping back slightly to 9.95 days. Overall, there has been no significant improvement in orders for the enamelled wire industry this week, and under the influence of the off-season adjustment cycle, the operating rate will remain low. SMM expects the operating rate of enamelled wire industry machines to drop back slightly to 77.93% next week.​