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Rising oil prices drive up the cost of copper wiring, squeezing profit margins
International oil prices are rising due to the Middle East situation, driving up the prices of plastics used in cables and tightening supply. The copper cable industry currently has strong order performance in the power sector, but its main products, medium and low voltage cables, consume a large amount of plastic, thereby increasing corporate production costs and compressing profit margins. We will continue to monitor the trend of plastic raw material prices and assess their impact on the operational load of copper cable production. (SMM)