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Copper market review: London copper rose strongly on Monday, returning to above $8,000 a tonne as copper inventories were tight and demand was strong
.
February involved the impact of the Spring Festival holiday and the off-season effect, most companies said that orders will fall by about 20-30% in February, production will also be affected by the holiday, and the operating rate will be reduced by about
50%.
However, this year, due to the government's call to reduce travel during this year's Spring Festival and try to celebrate the New Year in place, many migrant workers responded to the government's appeal, so many factories continued to maintain a high operating rate during the spring, making copper demand abnormally growing, and copper stocks also fell to a low point in nearly a decade
.
From the wire and cable operating rate in previous years, it is known that cable consumption has begun to strengthen since March, and the operating rate has climbed all the way to above 100%, an increase of 20%.
At the end of the first quarter and the beginning of the second quarter of this year, cable consumption will usher in the "highlight moment" in the middle of the year, which will also lead to a significant
increase in State Grid deliveries in the second quarter of 21.
