On April 22, at the CCIE 2025 SMM (20th) Copper Industry Conference & Copper Industry Expo - Electric Power Transmission and Distribution Industry Forum, Liang Dong, Chief Representative of the International Copper Association Beijing Office and Project Leader for Low-Carbon Drive / Senior Engineer, delivered a speech with the theme "Development Trends of Copper-Based Winding Materials in the Motor and Transformer Industry."

DMEGC's March 19 announcement of the information from the online investor exchange meeting shows: 1. What is the medium and long-term development plan for the company's magnetic materials and devices segment?

[SMM Analysis] According to SMM survey data, the operating rate of copper sheet and strip in July 2024 was 67.78%, a decrease of 0.29 percentage points from the previous month and 2.00 percentage points year-on-year. Among them, the operating rate of large enterprises was 72.31%, medium-sized enterprises was 62.81%, and small enterprises was 61.20%. (Surveyed enterprises: 36, total production capacity: 2.681 million tons). July is traditionally considered the off-season for the copper sheet and strip industry. However, as copper prices fell unilaterally back to around 72,000 yuan/ton, sentiment for end-user delivery finally improved. The following is a detailed analysis.

SMM estimates that China has imported 31,700 mt of copper semis in May, up 9% month on month but down 19.3% year on year. The imports are estimated to total 153,300 mt from January to May, down 23.9% year on year.

China copper semis imports are estimated at 41,300 mt in March, up 39.1% MoM but down 6% YoY. The imports totalled 99,700 mt in January-March, down 18.8% YoY.