Data: SHFE, DCE market movement (Feb 26)

[SMM Copper Wire and Cable Update] After the holiday, domestic wire and cable enterprises have resumed work gradually but have not yet reached full production. The recovery in end-use consumption has been relatively slow, and enterprises are currently focusing on fulfilling pre-holiday orders, with a clear divergence in order structure—orders from State Grid and other power sectors provide strong support, while orders in the construction and communication sectors remain weak. According to SMM, end-use demand is expected to be gradually released next week, and the industry's operating rate is projected to rebound to nearly 60%.

【SMM Copper Cathode Rod Express】According to SMM survey, the domestic copper cathode rod industry has not fully resumed work, with some enterprises still on holiday. It is expected that the industry will fully return to regular production after the Lantern Festival. Downstream demand shows divergence: orders in the wire and cable industry after the holiday are relatively low, while enamelled wire orders perform relatively well. SMM expects that the operating rate in the copper cathode rod industry will rebound to nearly 60% next week.