According to SMM data, the operating rate of the brass rod industry this week was 59.13%, down 0.68% WoW. The decline in operating rates was mainly influenced by two factors: first, the recent significant rise in copper prices significantly suppressed downstream demand, with companies generally reporting a noticeable decrease in orders in the second half of the month compared to early March; second, the reduction in imported secondary copper raw material due to losses, leading to tight supply of raw materials. Under the dual pressure of weak demand and raw material shortage, the operating rate of the brass rod industry declined and may continue to face pressure in the short term.