Upstream and downstream price transmission is not smooth, and copper rod industry inventory remains low

In January, copper prices fluctuated at high levels, putting pressure on raw material procurement, while industries such as valves and sanitary hardware experienced order contractions due to their inability to raise prices. Affected by high costs and declining orders, some small-scale copper rod companies started taking early holidays from mid to late January. Currently, most companies maintain low inventory levels to mitigate risks, with sample companies holding an average raw material inventory of only 3.95 days and finished product inventory around 6.77 days. Overall, stocking intentions remain subdued. (Shanghai Nonferrous Metals Network)