This week, the industry's machine operating rate continued its upward trend, rising 0.8 percentage points to 78.73%. Specifically, benefiting from moderate order intake performance last week, the operating rate of enamelled wire enterprises rebounded. However, with copper prices moving higher this week and some companies having achieved their annual targets relatively well, their willingness to place new orders weakened toward year-end, leading to a 0.62 percentage point decline in new orders MoM. On the inventory side, the pace of downstream customers picking up goods slowed down slightly this week, and the turnover days of finished product inventories increased to 8.79 days, though overall levels remain within a reasonable range. On the demand side, orders for downstream wheel hub motors declined noticeably, but orders in the home appliance segment improved compared to the previous sluggish state, showing signs of recovery. Overall, the enamelled wire industry continues its recovery trend but has not yet reached peak season levels seen in the same period. SMM expects that the operating rate of the enamelled wire industry will continue to rise to 78.87% next week.
