Will China's Aluminium Wire Market Recover from the July Downward Spiral?

The Chinese aluminium wire market experienced a pronounced downturn in July ****, with the industrial manufacturing plunging into contraction territory. This sharp deterioration was driven by the simultaneous collapse of both export and domestic demand channels. The export window for aluminium wire effectively closed as the price spread advantage between Chinese and overseas markets eroded, causing new export orders to plummet—the new export orders index registered a catastrophic **.**, down **.* percentage points from June. Meanwhile, State Grid&#**;s cargo pick-up pace remained sluggish, with tender progress lagging behind the same period last year, further squeezing domestic order intake. The production index for aluminium wire and cable fell to **.**, down **.* percentage points from June&#**;s **.**, as manufacturers slashed operating rates in response to the order gap. Operating rates for aluminium wire and cable declined to **.** by mid-July, down * percentage points week-on-week, with further downside expected as prior export orders are...