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Copper cathode rod: The weekly operating rate of major domestic copper cathode rod enterprises slightly increased to 78.07% during 4.11-4.17, up 3.32 percentage points MoM, 1.57 percentage points lower than the expected value, and continued to rise 8.32 percentage points YoY. Copper prices rebounded this week, and the daily average new orders and shipments of copper cathode rods significantly decreased after the rise in copper prices. However, a large number of orders on hand were received during the low copper price period, and most copper cathode rod enterprises currently have sufficient orders on hand, with the production schedule expected to be maintained until month-end. In terms of specific inventory, with the production and circulation needs driven by the increase in operating rate, the raw material and finished product inventories of copper cathode rod enterprises increased this week. The raw material inventory of copper cathode rod enterprises increased 2.14% MoM, reaching 43,050 mt, while the finished product inventory increased 0.82% MoM, reaching 61,300 mt. Looking ahead, the operating rate is expected to continue to rise MoM next week, reaching 79.97%, up 1.9 percentage points MoM and 9.29 percentage points YoY.
