【SMM Copper Wire and Cable Operating Rate】This week (April 25-May 1), the operating rate of SMM copper wire and cable enterprises stood at 89.45%, down 1.78 percentage points WoW, 14.69 percentage points higher than the same period last year, and 4.36 percentage points lower than the expected operating rate. This week, copper prices remained high, affecting the enthusiasm of downstream customers in placing orders. As a result, the number of new orders received by enterprises this week decreased WoW, and production was also impacted. Although the Labour Day holiday is approaching, the general stockpiling sentiment of downstream customers did not significantly drive an increase in new orders this week. Additionally, some enterprises indicated that the substantial growth in orders in early April had pre-empted market orders, with some market demand already released in advance. Next week, as the Labour Day holiday approaches, SMM has learned that some individual small and medium-sized enterprises in the sample plan to implement production cuts and adjust work schedules. Therefore, SMM expects that next week (May 2-8), the operating rate of copper wire and cable enterprises will decrease by 1.99 percentage points WoW to 87.46%, 4.62 percentage points higher than the same period last year.