The year 2025 has concluded. Against a backdrop of copper prices repeatedly reaching historic highs, what characteristics did the operating rates in the wire and cable industry exhibit over the past year? As 2026 marks the beginning of the 15th Five-Year Plan period, where does the future development of the wire and cable industry lie? ......

[SMM Copper Express] According to SMM statistics, China's copper rod production in October was 984,600 mt, down 104,200 mt or 9.57% MoM. Production of copper cathode rod was 838,100 mt, down 107,900 mt or 11.41% MoM, dragging down the overall operating rate of the copper rod industry. Production of secondary copper rod was 146,500 mt, up 3,700 mt or 2.59% MoM.

As a crucial strategic cluster for China's wire and cable industry, North China has cultivated a 100-billion-level industry chain ecosystem by leveraging its robust industrial foundation and policy dividends. However, compared to mature industrial belts like the Yangtze River Delta and Pearl River Delta, it still faces challenges such as insufficient coordination and room for improving innovation efficiency. Against this backdrop, SMM (Shanghai Metals Market) will host the 2025 SMM (First) North China Wire and Cable IndustryZ3/> in Ningjin, Hebei on August 8, 2025 , under the theme of " Gathering Strength in North China · Chaining the Future ". The event will convene enterprises across the entire industry chain including wire and cable, magnet wire, copper/aluminum conductors, and material equipment to jointly explore new development pathwaysZ10/>The conference focuses on three strategic directions: " Industry Chain Synergy · Mutual Benefits in the North ", " Smart Chain Integration · Green Energy Transformation ", and " Strategic Chain Collaboration · Global Competition-Cooperation " , aiming to promote resource integration, technological upgrading, and ecological co-construction for North China's wire and cable sector. Leveraging over a decade of industry expertise, SMM will establish a high-end communication platform to help enterprises seize market opportunities, enhance industry chain resilience, and inject new momentum into the high-quality development of North China's and even the nation's wire and cable industry. SMM, together with Tianjin Xinhong Recycling Resources Co., Ltd. & Jiangxi Baoqi New Materials Technology Co., Ltd. & Jiangxi Xindehai New Materials Technology Co., Ltd. , sincerely invites industry peers to gather in Ningjin, Hebei, and jointly embark on a new chapter for the industry! Click Registration Form to register immediately. We look forward to meeting you at the conference. Tianjin Xinhong Recycling Resources Co., Ltd. , located in Ziya Circular Economy Industrial Park, Jinghai District, Tianjin, specializes in recycling of renewable resources, non-ferrous metal rolling processing, and metal products manufacturing. The company operates a 50,000-mt/year continuous casting and rolling production line for electrical copper rods. Since its establishment, it has adhered to innovation-driven development, introduced advanced domestic and overseas production equipment and technologies following the principles of innovation, efficiency, quality, and safety. Guided by the philosophy of "Quality First, Service First", the company focuses on product excellence and customer collaboration to jointly create high-quality products. Jiangxi Baoqi New Materials Technology Co., Ltd. , situated at No. 286, Shenzhen Avenue, Jinggangshan Economic and Technological Development Zone, Ji'an City, Jiangxi Province, specializes in secondary copper recycling, non-ferrous metal rolling, and metal products manufacturing. Its main products include 8mm low-oxygen copper rods and 8mm-25mm upward-drawn oxygen-free copper rods. The company has a complete and scientific quality management system certification. Established in April 2022, the company has a registered capital of 50 million yuan and occupies an area of over 40 mu. It currently operates four production lines for oxygen-free rods using up-casting furnaces and one production line for low-oxygen rods using continuous casting and rolling. The annual production capacity includes 32,000 mt of up-cast oxygen-free copper rods and 50,000 mt of 8mm low-oxygen copper rods. Our company boasts advanced production equipment and mature production technology, offering top-notch pre-sales quality and after-sales service. Since its establishment, the company has adhered to innovation-driven development, introducing advanced production equipment and processes from domestic and overseas markets in line with the requirements of innovation, efficiency, quality, and safety. Upholding the principles of quality first and service first, the company focuses on products as its core and customers as its bridge, striving to collaborate with you to create high-quality and high-standard products. Guided by the quality policy of "integrity-based, customer-first, united and pragmatic, quality and innovative," the company's eternal business philosophy is "copper products, golden reputation," with the eternal pursuit of a "win-win" outcome with customers. We sincerely hope to collaborate with you for mutual development and a brighter future. Jiangxi Xindehai New Material Technology Co., Ltd. , located in the Industrial Park, Jintan Town, Jishui County, Ji'an City, Jiangxi Province, was established in July 2024 with a registered capital of 50 million yuan and occupies an area of over 70 mu. The up-cast oxygen-free copper rod production line was commissioned and put into operation in October 2024, with an annual production capacity of 40,000 mt of up-cast oxygen-free copper rods. The company is currently preparing to construct production lines for copper-based projects such as continuous casting and rolling low-oxygen copper rods and anode plates, as well as aluminum-based product production lines for aluminum ingots, aluminum billets, and deoxidized aluminum. These projects are expected to be put into production successively in 2025. Upon full commissioning, the company will achieve an annual production capacity of 150,000 mt of copper-based products and 50,000 mt of aluminum-based products. Guided by the quality policy of "integrity-based, customer-first, united and pragmatic, quality and innovative," the company's eternal business philosophy is "copper products, golden reputation," with the eternal pursuit of a "win-win" outcome with customers. We sincerely hope to collaborate with you for mutual development and a brighter future. ◆ Contact Information ◆ Tianjin Xinhong Renewable Resources Co., Ltd. Sales Department: Liu Runliang, 177 2012 3999 Procurement Department: Cai Rujian, 138 2041 6617 Jiangxi Baoqi New Material Technology Co., Ltd. Cui Deliang, 177 7781 3383 Zeng Xiaoqiang, 137 6712 8719 Jiangxi Xindehai New Material Technology Co., Ltd. Liu Runliang, 177 2012 3999 Click here to participate immediately 2025 SMM (Inaugural) North China Cable Industry Conference SMM Conference Contact Person Li Haiyang 135 2411 0203 lihaiyang@smm.cn

After entering the SHFE copper 2507 contract period, spot suppliers will start quoting at premiums of 200-300 yuan/mt. However, sustained import pressure makes it difficult for suppliers to achieve high premiums. It is expected that spot premiums will be quoted high but sold low in the future, and market supply will remain relatively abundant.

According to SMM, the operating rate of copper cathode rod enterprises in May was 70.26%, down 3.59 percentage points MoM and 0.75 percentage points lower than the expected value. The operating rate of copper cathode rod enterprises in May increased by 7.42 percentage points YoY. Among them, the operating rate of large enterprises was 81.96%, that of medium-sized enterprises was 52.89%, and that of small enterprises was 55.10%.

At 20:06 local time in Zambia on June 7, 2025, the site of the oxygen-free copper rod project of JCC (Zambia) Optoelectronics Co., Ltd. (hereinafter referred to as "JCC Zambia") was filled with jubilation—the up-casting furnace was officially started for production. This key project, which carries the mission of optimizing the industrial layout of JCC South China Company in Zambia, achieved a crucial breakthrough, adding another footnote to the in-depth development of the Belt and Road Initiative on the African continent. After 270 days of intense efforts, the oxygen-free copper rod production line with a designed capacity of 8,000 mt per year was finally successfully started for production, marking the official commissioning of the largest and most advanced copper processing benchmark project in Zambia to date.

[SMM Analysis: Secondary Copper Rod Sales Continue to Incur Losses, Operating Rate Decline Exceeds Expectations] In May, the operating rate of secondary copper rod was 29.92%, lower than the expected 32.74%, down 3.97% MoM and 12.13% YoY. In May, Sino-US trade tensions eased somewhat, but China still imposed a 10% tariff on all US imports. Therefore, it remained difficult for US secondary copper raw materials to enter the Chinese market, and expectations of a continued decline in overseas supply persisted. The supply of domestically produced secondary copper raw materials was affected by the narrow fluctuations in copper prices...

SMM May 13 Report: As May blossoms with flowers and summer begins to unfold, Jiangxi Xindehai New Material Technology Co., Ltd. recently held a grand opening ceremony. The event was attended by a distinguished gathering of guests, with hosts and visitors alike enjoying the occasion! SMM Information & Technology Co., Ltd. (SMM) extends its warmest congratulations to Jiangxi Xindehai New Material Technology Co., Ltd. on its grand opening! May your business prosper and thrive! May you achieve even greater success in your future endeavors! And may you contribute to the prosperity of the new materials industry! Jiangxi Xindehai New Material Technology Co., Ltd. Jiangxi Xindehai New Material Technology Co., Ltd. is located in the Industrial Park of Jintan Town, Jishui County, Ji'an City, Jiangxi Province. The company was established in July 2024 with a registered capital of 50 million yuan and occupies an area of over 70 mu. The upward-casting oxygen-free copper rod production line has completed commissioning and commenced production in October 2024, with an annual production capacity of 40,000 mt of upward-casting oxygen-free copper rod. The company is currently planning to construct production lines for copper-based projects such as continuous casting and rolling low-oxygen copper rod and anode plates, as well as aluminum product production lines for aluminum ingots, aluminum billets, and deoxidized aluminum. Production is expected to commence in stages in 2025. Upon full operation, the company will achieve an annual production capacity of 150,000 mt of copper-based products and 50,000 mt of aluminum products. The company adheres to the quality policy of "integrity-based, customer first, unity and hard work, quality and innovation" as its guiding principle. "Copper products, gold-standard reputation" is the company's unwavering business philosophy, and achieving a "win-win" situation with customers is its eternal pursuit. The company sincerely hopes to join hands with you for mutual development and a brighter future.

[SMM Analysis: Copper Prices Consolidate amid Volatility, Suppliers of Secondary Copper Raw Material Sell on Highs] In May, copper prices consolidated amid volatility, with prices fluctuating within the range of 77,000-79,000 yuan/mt, while the price of bare bright copper similarly hovered within the range of 72,300-72,500 yuan/mt. During the first half of the month, amid considerable fluctuations in copper prices, the average daily % change in copper prices ranged from 700-1,000 yuan/mt, and the price difference between copper cathode and copper scrap remained at 1,300-1,700 yuan/mt. As suppliers of secondary copper raw material still expected copper prices to rise, on trading days when prices fell...

[SMM Analysis: Sales Losses Widen, Secondary Copper Rod Enterprises Reduce Operating Rates] According to SMM's survey data, the operating rate of secondary copper rod this week was 22.14%, up 0.27 percentage point WoW and down 6.87 percentage points YoY. Meanwhile, the average price difference between copper cathode rod and secondary copper rod was 1,082 yuan/mt this week, narrowing by 84 yuan/mt MoM. In addition, the average discount of secondary copper rod in Jiangxi against copper futures was 188 yuan/mt, narrowing by 437 yuan/mt MoM...