716,000 Tons In January! Copper Prices Are Double Suppressed During The Spring Festival! Research On The Production Of High-quality Copper Rods From January To February
According to SMM data, The total production of fine copper rods nationwide in January 2025 was 716,000 tons> It has fallen by 181,700 tons since December, with a starting rate of 51.99%, down 16.38 percentage points from last month and 11.9 percentage points from January last year.
Among them East China> The total output of copper rods was 478,900 tons, with a starting rate of 58.47%, a year-on-year decrease of 9.16 percentage points; Southern China> The total output of copper rods was 106,300 tons, with a starting rate of 46.64%, a year-on-year decrease of 16.76 percentage points. (See the SMM Database for details on output and operating rate data in other regions)
The atmosphere of the Spring Festival in January is gradually becoming stronger and stronger. The center of gravity of copper prices has risen, suppressing the downstream purchasing enthusiasm> According to SMM data, the average price of SMM 1# electrolytic copper in January was 75,023.61 yuan/ton, 581.56 yuan/ton from December, and the price difference of refined scrap copper rods also increased by 412 yuan/ton. moon.
By the end of January, consumption gradually weakened and the Spring Festival holiday began. Fine copper poles are usually hung during holidays, and production is reduced by one month per month. According to the calendar time, from the perspective of overall operating rate, the operating rate in January 2025 fell by 11.9 percentage points year-on-year. In February 2024, cnc machining was increased by 11.97 percentage points per month, and the main factor causing the gap was the different spans of the Spring Festival. Judging from the average operating rate from January to February 2025, the average operating rate is expected to be 52.78%, an increase of 0.82 percentage points year-on-year.
The effect at the end of February has not been eliminated, and expected output has rebounded only slightly>
The atmosphere of the holiday in mid-February is gradually fading, with most copper pole factories returning to production one after another before Lantern Festival, but in early February it is still during the spring festival, and the overall production day is actually similar to January. Therefore, national production of exquisite copper poles is expected to occur in February. 737,700 tons, operating at 53.56%, still at low levels> .
From the perspective of consumption, due to the rise in copper prices after the holiday, terminal consumption has slowly recovered, and the current new orders are slow. If copper prices don't drop significantly, or at least some urgent need to be resold after the release of Lantern Festival> .
Source: SMM Copper Processing Exchange Platform, Author: Zhang. No media or individual can disseminate, publish or copy the original information of Shanghai's non-produced network in any form without authorization. (including but not limited to market data, price information, market statistics information, research information, etc.) Some content has been changed. If you have any questions, please consult and edit at the end of this article.
