Energy-saving and emission-reducing power supply slows down the production of Hebei cable companies, and liquidity is expected to influence the direction of metal price fluctuations. Last week, China’s interest rate hike was interpreted as China’s economic development was good. Short-lived short-sightedness was quickly digested. “Inflation†and “hot money†became hot spots this week. Speculative funds further pushed up metal prices as the dollar lowered, hitting a 27-month high. This week, the United States announced a series of economic data that was better than expected. The dollar received support after falling continuously. The US dollar's low rebounded above 78 points. It is expected that before the G20 summit or prior to the Federal Reserve’s interest rate meeting in early November, metal prices will remain high and the situation will remain high. This week, the metal market showed a state of first rise and then a high fall. The three-month LME copper, aluminum, lead, zinc, tin and nickel fell by 1.73%, 0.57%, 3.36%, 3.48%, 10.51% and 0.93%, respectively.
High-priced copper inhibits the demand for wire and cable, and power cuts have caused a decline in the operating rate of aluminum and zinc smelting and processing. 1. The average operating rate of wire and cable enterprises was only 78.9%, which was a significant decline from the 84.7% in September. As for the reasons for the decline in the operating rate, the company stated that: First, during the National Day holiday in October, companies have more or less vacation time, and their production volume has also declined. Second, there are still some companies in the Jiangsu region that have limited access to electricity and cannot reach high levels. Third, the high price of copper inhibits the terminal's demand for cables; 2. The pressure on Henan to limit production of electrolytic aluminum has further increased, and the rate at which companies are required to reduce production has widened to 2/3 to 1/2, while aluminum plants have also begun to actively cooperate with energy-saving and emission-reduction work to adjust production plans and reduce production. Henan electrolytic aluminum production capacity in the 3rd quarter is about 4 million tons/year, and according to the latest production cut-off plan is expected to affect the production capacity of more than 2 million tons/year (about 10% of the national total production capacity), Henan will be affected by energy conservation and emission reduction throughout the year. Production is expected to exceed 400,000 tons; 3. More than half of the companies in the galvanized industry in north China were forced to stop production because of power restrictions.
High-priced copper inhibits the demand for wire and cable, and power cuts have caused a decline in the operating rate of aluminum and zinc smelting and processing. 1. The average operating rate of wire and cable enterprises was only 78.9%, which was a significant decline from the 84.7% in September. As for the reasons for the decline in the operating rate, the company stated that: First, during the National Day holiday in October, companies have more or less vacation time, and their production volume has also declined. Second, there are still some companies in the Jiangsu region that have limited access to electricity and cannot reach high levels. Third, the high price of copper inhibits the terminal's demand for cables; 2. The pressure on Henan to limit production of electrolytic aluminum has further increased, and the rate at which companies are required to reduce production has widened to 2/3 to 1/2, while aluminum plants have also begun to actively cooperate with energy-saving and emission-reduction work to adjust production plans and reduce production. Henan electrolytic aluminum production capacity in the 3rd quarter is about 4 million tons/year, and according to the latest production cut-off plan is expected to affect the production capacity of more than 2 million tons/year (about 10% of the national total production capacity), Henan will be affected by energy conservation and emission reduction throughout the year. Production is expected to exceed 400,000 tons; 3. More than half of the companies in the galvanized industry in north China were forced to stop production because of power restrictions.
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