According to SMM, the operating rate of copper plate/sheet and strip producers stood at 65.87% in August 2025, up 0.25 percentage points MoM but down 5.36 percentage points YoY. Although the domestic copper plate/sheet and strip operating rate achieved a slight MoM increase in August, the actual performance fell short of expectations, being 1.05 percentage points lower than the projected level, with overall operations failing to meet prior forecasts. The weaker-than-expected growth in copper plate/sheet and strip orders was attributed not only to insufficient demand caused by the off-season and sluggish demand from end-user sectors such as home appliances and PV, but also to the upward shift in copper price center in late August, which significantly dampened downstream manufacturers' purchase willingness and suppressed order volumes. Meanwhile, after policy adjustments in the secondary copper market, some enterprises faced tight supply of recycled copper raw materials, with increased procurement difficulties and rising procurement costs, further dragging down the operating rate.