Refined copper rod: The weekly operating rate of major domestic refined copper rod enterprises slightly increased to 74.76% during the period of April 4 to April 10, up 0.21 percentage points MoM, 0.03 percentage points lower than the expected value, and continued to rise by 2.8 percentage points YoY. This week, copper prices hit the lower limit due to trade war concerns, maintaining low levels, and only rebounded at the end of the week. During the period of low copper prices, a large number of previous orders from refined copper rod enterprises were released, and the increase in orders on hand for most refined copper rod enterprises drove a slight rise in the weekly operating rate, only 0.03 percentage points lower than the expected value. Although some downstream enterprises still maintained a wait-and-see attitude amid market fluctuations, overall consumption significantly improved.