China is a big consumer of copper. In the proportion of copper consumption, the power industry has the largest share, exceeding 50%, and is mainly used for wire and cable, transformers, switches, and connectors, among which the demand for copper from wire and cable accounts for 90 of the power industry. More than %, the gradual investment of the national grid will increase the amount of copper used, which will bring some support to the copper price. However, the inventory pressure on the previous period should not be underestimated.
The start-up of the power grid is expected to drive demand in the copper market. “In 2012, the rural power grid reconstruction project has completed a total investment of 1.69 billion yuan, while the original plan is to invest 45.27 billion yuan this year. The current investment amount accounts for only 3.73% of the plan.†Sun Jichang, director of rural power department of State Grid Corporation At the time, it revealed the current progress of the rural network transformation. According to the data provided by him, at least 43.5 billion yuan will be invested in all aspects of the rural network transformation in the second half of this year.
With the launching of a new batch of bidding projects of the State Grid and the close of the delivery of the winning bids, orders for wire and cable companies have also improved slightly. From this week, the Fubao Copper Research Group had 23 cable production bases in Guanlin Town of Jiangsu Province. According to the results of the company's tracking research, the overall cable orders in July tend to improve, with 50% of the company's manufacturers stating that the current orders are relatively stable and have not changed much; 40% of the company's orders have slightly improved, compared with June's increase. The margin is between 5% and 10%; while the remaining 10% of orders have shrunk slightly, and the margin is also relatively small, within 5%. With the gradual deepening of the transformation of rural power grids, the wire and cable industry will usher in a new era of development. The demand for copper will increase, and it will also provide certain support for the upward movement of copper prices. Therefore, the pressure to destock should not be underestimated.
The start-up of the power grid is expected to drive demand in the copper market. “In 2012, the rural power grid reconstruction project has completed a total investment of 1.69 billion yuan, while the original plan is to invest 45.27 billion yuan this year. The current investment amount accounts for only 3.73% of the plan.†Sun Jichang, director of rural power department of State Grid Corporation At the time, it revealed the current progress of the rural network transformation. According to the data provided by him, at least 43.5 billion yuan will be invested in all aspects of the rural network transformation in the second half of this year.
With the launching of a new batch of bidding projects of the State Grid and the close of the delivery of the winning bids, orders for wire and cable companies have also improved slightly. From this week, the Fubao Copper Research Group had 23 cable production bases in Guanlin Town of Jiangsu Province. According to the results of the company's tracking research, the overall cable orders in July tend to improve, with 50% of the company's manufacturers stating that the current orders are relatively stable and have not changed much; 40% of the company's orders have slightly improved, compared with June's increase. The margin is between 5% and 10%; while the remaining 10% of orders have shrunk slightly, and the margin is also relatively small, within 5%. With the gradual deepening of the transformation of rural power grids, the wire and cable industry will usher in a new era of development. The demand for copper will increase, and it will also provide certain support for the upward movement of copper prices. Therefore, the pressure to destock should not be underestimated.
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