According to SMM data, the operating rate of enamelled wire industry machinery this week rose by 1.47 percentage points MoM to 81%, with a significant increase of 4.01 percentage points in new orders. Both the operating rate and order intake rebounded, far exceeding expectations. The pullback in the center of copper prices mid-week became a key driving factor, directly stimulating downstream ordering enthusiasm. According to feedback from a certain enterprise, its order intake on Thursday exceeded daily levels by more than three times, with other enterprises also experiencing varying degrees of slight increases. Meanwhile, the decline in copper prices accelerated the pace of downstream cargo pick-up, driving the days of finished product inventories for enamelled wire enterprises down to 9.47 days, further alleviating inventory pressure. Despite the industry still being in the off-season, with overall demand suppressed by seasonal factors, the decline in copper prices this week effectively released some backlog orders, with a particularly notable increase in order intake. Based on this, SMM expects the operating rate of enamelled wire industry machinery to continue its upward trend next week, slightly rising to 81.07%.