According to a survey of 22 brass bar producers with an annual capacity of 1,635 million tons in Zhejiang, Jiangxi and Guangdong provinces, China's copper bar processing enterprises seem more active in restarting production after the Spring Festival.19 or 84.3% of the businesses resumed production as of January 31, and the remaining businesses are expected to completely resume within three days.
Compared to the same lunar period in 2022, 12 businesses remained on the planned restart date, 3 businesses started later and 7 businesses earlier in 2023. Due to the Spring Festival holiday coming earlier this year, the restart time was accordingly earlier. In addition, some businesses have to finish the production as soon as possible for the orders received before the Festival.
However, downstream demand is slight and will amount in mid-February. Most sub-industry companies want to resume production after February 5 due to high copper bar prices.