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The China Nonferrous Metals Association (CNIA) reports that in October the operating rate of Chinese copper wire and rod enterprises was 78.3%, up 2.8% y/y, and that of copper tube enterprises (previously down 59.2% y/y in September ) was 73.3%, up 22.8% y/y and 14.1% m/m. Copper semis output Jan-Sep was 6.27mt, up 18% y/y. The fourth quarter is the traditional peak production season, driven by the growth of end use industries such as home appliances and automobiles etc, and CNIA expects to see continued growth in consumption.