The market for copper plates in China has continued to experience weakness in late January, with prices (Ex Qingdao) down x.xxx for the week ending January xx, xxxx. This is following a slow close to xxxx, during which the total operating rate of copper plate producers declined to xxx, down x.xx percentage points from the previous month. Normally, the industry would see an increase in production activity towards the end of the year, but this year’s cycle was derailed by a sudden and drastic increase in copper prices, which became the primary influence hindering production growth.
As the industry entered January, copper prices continued to reach record-breaking levels, making downstream products increasingly unaffordable. Many downstream manufacturers, who were unable to cope with the increased material costs, decided to start their Chinese New Year holidays earlier than usual. This led to a “lying flat”...
