According to China Customs data, China's rare earth permanent magnet (REPM) exports reached 5,375 tons​ in July 2026, down 4% MoM​ and 3.6% YoY. Total exports for January-July amounted to 36,880 tons, with a monthly average of 5,268 tons, aligning with SMM's earlier projections. SMM maintains its full-year 2026 REPM export forecast at approximately 61,600 tons, representing a YoY increase of about 7%.

SMM August 21 News: This week, Pr-Nd alloy prices first declined and then rebounded. At the beginning of the week, prices continued to be in the doldrums, before stopping falling and rebounding toward the weekend. As of 17:00 Friday, Pr-Nd alloy was reported at 880,000 yuan/mt, up 10,000 yuan/mt from Thursday afternoon, flat compared with Friday morning. Today, Pr-Nd alloy stopped falling and followed the upward trend driven by the sharp raise in Pr-Nd oxide prices. This was mainly due to a large enterprise's procurement of Pr-Nd oxide yesterday, which quickly tightened low-priced supply on the market. Suppliers successively raised their quotes, and alloy enterprises followed suit with upward adjustments under the support of oxide costs, making low-priced materials hard to find. However, inquiry activity in the afternoon declined from yesterday, and downstream magnetic material enterprises were cautious in procurement, with limited actual transactions following up. Reviewing the weekly trend, Pr-Nd alloy prices this week showed a pattern of "first declining then rebounding": prices moved steadily at the start of the week, then weakened slightly from Tuesday as Pr-Nd oxide prices pulled back, hitting the week's low of 870,000 yuan/mt on Thursday. Toward the weekend, driven by the large enterprise's procurement of Pr-Nd oxide, prices rebounded strongly on Friday, rising 10,000 yuan/mt in a single day. As of 17:00 Friday, Pr-Nd alloy closed at 880,000 yuan/mt, up 5,000 yuan/mt from last Friday (875,000 yuan/mt), a WoW increase of 0.57%, halting the previous several weeks of decline and turning losses into gains. From the cost side, the cash cost of Pr-Nd alloy this week fell about 1,655 yuan/mt WoW, a decrease of about 0.19%, as cost pressure continued to ease; calculated based on Friday's closing price, the net profit per mt was about 6,700 yuan/mt, significantly expanded from last week, and profitability continued to improve. During the week, downstream magnetic material enterprises remained cautious in inquiries and procurement, with sluggish market trading activity. In mid-week, raw material prices were in the doldrums; some traders sold at low prices, and although alloy enterprises lowered their quotes accordingly, they were determined to hold prices firm, which narrowed the actual declines. Toward the weekend, raw material prices stopped falling and rebounded; alloy enterprises raised quotes accordingly, low-priced materials were hard to find, and trading activity recovered somewhat. In the short term, on the demand side, the "high-temperature holidays" of end-user motor enterprises are gradually ending, and with the approach of the traditional September-October peak season, top magnetic material enterprises have favorable expectations for order production schedules. The market holds strong expectations for downstream restocking and stockpiling. However, it remains to be seen whether the peak season demand expectations will be realized, as well as the release pace of new capacity for Pr-Nd oxide on the cost side. Pr-Nd alloy prices are expected to drift higher in a range sideways.

SMM August 21, 2026 — China's praseodymium-neodymium (NdPr) oxide market followed a "weakened first, recovered later" pattern this week (August 17-21). From Monday to Thursday, spot prices drifted lower under pressure from volatile futures and cautious downstream purchasing, with the average price easing from around CNY 722,000/mt (about 107,400/mt) to roughly CNY 718,000/mt (106,800/mt). On Friday, major producers re-entered the market to buy, sentiment improved markedly and holders raised offers across the board, lifting the average price to CNY 726,500/mt (about $108,100/mt) — a sharp one-day rebound. (Exchange rate: 1 USD = 6.72 CNY, August 21, 2026) 1. Weekly market review NdPr oxide prices fell early in the week before rebounding on Friday. On Monday, the market opened stable: the quoted range held at CNY 720,000-724,000/mt (107,100-107,700/mt), flat with the previous Friday, though trading was thin. On Tuesday, futures volatility dragged spot offers down after midday and the market broke below the CNY 720,000/mt threshold, with the average easing to CNY 718,000/mt. Wednesday saw a stable but weak session at CNY 718,000-720,000/mt. On Thursday, prices continued to edge lower, hitting a weekly low of CNY 718,500/mt on average, with the range narrowing to CNY 717,000-720,000/mt. On Friday, major buyers' entry into the market quickly absorbed low-priced cargo, holders raised offers across the board and the average price jumped to CNY 726,500/mt, in a range of CNY 725,000-728,000/mt (107,900-108,300/mt) — a single-day gain of about CNY 8,000/mt (+1.1%) that largely recouped the week's losses. 2. Key drivers 1. Futures volatility remains the main transmission channel for spot sentiment. From the start of the week through midweek, fluctuations in NdPr oxide futures repeatedly shaped spot sentiment; Tuesday's afternoon pullback in the futures market directly dragged spot offers lower and turned the mood bearish. On Friday, news of major buyers' procurement pushed futures up and spot followed. Futures-spot linkage was the dominant price driver this week. 2. Cautious downstream buying met with traders' low-price sales. From Monday to Thursday, metal producers showed little appetite to purchase, inquiries were scarce and trading remained subdued, while some traders kept selling at low prices and capped any rebound. Once low-priced cargo tightened on Friday, holders' willingness to sell cheap fell sharply. 3. Major buyers' procurement was the turning point. On Friday, large producers entered the market for NdPr oxide, inquiries picked up notably, holders raised offers and low-priced cargo became hard to find — the direct catalyst behind the market's shift from weak to firm. 4. Upstream and downstream diverged. Rare earth ore circulation remained sluggish overall and ore prices kept easing, while the oxide segment stabilized and recovered on support from major buyers. Demand from magnet material makers was mixed through the week — "clearly improving" feedback on Monday faded thereafter, and by Friday buyers turned cautious again — suggesting downstream transmission is not yet solid. 3. Outlook In the near term, major buyers' procurement provides solid support for NdPr oxide prices: low-priced cargo has tightened, holders are quoting firmly, and the price center is likely to hold above CNY 725,000/mt. Two risks need watching, however. First, inquiry activity had already cooled by Friday afternoon, magnet makers remained cautious and actual transaction follow-through was limited. Second, futures volatility could return — if futures pull back, spot prices face downside risk again. Key factors to track: whether major buyers sustain their purchasing, the durability of the recovery in magnet material orders, and the direction of NdPr oxide futures. Until demand forms a clear uptrend, prices are expected to remain range-bound with a modestly firmer bias.

[Secondary Lead Market Update] This week, the rebound in lead prices drove a marginal recovery in secondary lead losses. As of August 21, the comprehensive profit/loss of SMM large-scale secondary lead enterprises was -263 yuan/mt, while that of small and medium-scale enterprises was -443 yuan/mt. Tight supply of scrap batteries supported raw material costs, limiting profit repair.

SMM August 21 news: This week, the rebound in lead prices drove a marginal recovery of losses for secondary lead. As of August 21, the comprehensive profit/loss of SMM large-scale secondary lead enterprises was -263 yuan/mt, and that of small and medium-scale enterprises was -443 yuan/mt. Tight supply of scrap batteries pushed up raw material costs, limiting profit recovery. Downstream has not seen a substantial peak season, with just-in-time procurement as the main method. Primary lead diverted demand, resulting in mediocre performance in spot transactions. Looking ahead to next week, lead prices are expected to consolidate at highs. If scrap battery prices follow the rise, coupled with downstream still maintaining large discounts and just-in-time procurement of secondary refined lead spot orders, SMM believes that the expectation for further narrowing of the loss range for secondary lead smelters is limited.

SMM August 21 News: This week, the scrap battery market remained stable overall, with a few smelters slightly raising their purchase quotations by 20-100 yuan/mt, mainly for EV batteries; the tight supply of scrap batteries persisted throughout the week without improvement. As the traditional "September-October peak season" approaches, the sentiment of major store operators to hold back from selling gradually intensified, with available cargo being scarce. Both recyclers and smelters reported that daily average purchase volume dropped by about 20-30% recently, and recyclers generally maintained a fast-in fast-out purchasing and sales model. On the smelter side, raw material arrivals were generally stable but showed regional divergence, with areas offering higher purchase prices seeing relatively better arrivals. As lead prices stabilized and rose, losses at secondary lead smelters narrowed, and operating rates rebounded; however, lingering losses limited the upside room for scrap battery purchase prices. Downstream lead-acid battery consumption improved somewhat but remained dominated by just-in-time procurement. Overall, scrap battery prices moved sideways this week under the influence of secondary lead losses and tight supply. Next week, scrap battery prices are expected to continue moving sideways, with focus on the extent of demand realization during the traditional "September-October peak season," the release of store supply, and the progress of the rebound in secondary lead smelter operating rates.

The average price of SMM 10-12% high-grade NPI fell by 5.6 yuan/nickel unit WoW to 1,127.4 yuan/nickel unit (ex-factory, tax included), while the average price of the Indonesia NPI FOB index dropped by 0.61 $/nickel unit WoW to 145.91 $/nickel unit. This week, overall trading in the spot market for high-grade NPI remained mediocre, with insufficient market activity and the market continuing to operate under pressure in a deadlock.

SMM August 21 News: The SHFE lead 2610 contract continued the strong sentiment from the night session and moved sideways at highs throughout the day. It opened at 16,115 yuan/mt, briefly dipped to 16,085 yuan/mt before midday, rebounded, and then moved sideways within a narrow range of 16,160–16,110 yuan/mt. It finally closed at 16,130 yuan/mt, up 195 yuan/mt from the previous trading day's closing price, an increase of 1.22%. Total trading volume was 82,983 lots, up 32,105 lots from the previous trading day, and open interest fell by 2,334 lots to 77,248 lots. Driven by the rise in LME lead and the overall strength of the nonferrous metals sector, SHFE lead rose sharply, breaking through the 16,000 mark. The SMM No. 1 lead price rose 125 yuan/mt. Enterprise shipments were divergent, with some holding prices firm and others selling at market prices. The shipment mentality of secondary lead smelters changed, leading to chaotic market quotations, and the quotation range for secondary refined lead expanded significantly. Downstream enterprises were wary of high prices and adopted a wait-and-see attitude, stating that the traditional peak season was underperforming. Apart from just-in-time procurement, medium and large enterprises waited for new month's long-term contracts, and lead ingot market transactions weakened. In addition, the import window for lead ingots has recently opened, and import lead quotations have increased. Short-term wild swings at highs are expected, and the risk of a correction from highs requires vigilance. In addition to closely monitoring the realization of peak season demand, attention should also be paid to the pace of import lead arrivals and the resumption of production at smelters. Data Source Statement: Except for publicly available information, all other data are derived by SMM based on public information, market communication, and SMM's internal database model, and are for reference only and do not constitute decision-making advice.

In early to mid-August 2026, CAAM and the CPCA Passenger Car Association successively released relevant data on the auto market for July 2026. CAAM stated that in July, the auto market entered the traditional off-season, with foot traffic and orders naturally pulling back. This was compounded by factors including some demand being brought forward and released by the mid-year sales push, persistent nationwide high temperatures, and typhoons and flooding in certain regions affecting offline sales, resulting in a seasonal pullback MoM and a slight decline YoY. Among them, exports continued to maintain rapid growth, with monthly exports exceeding 1 million units for two consecutive months, and the share of NEV exports exceeding 50% for two consecutive months...... SMM compiled relevant data on the auto and battery markets for July 2026 for readers’ reference. Auto Market CAAM: Auto production and sales declined both MoM and YoY in July; the decline in January-July narrowed further versus H1 In July, auto production and sales totaled 2.573 million units and 2.584 million units, down 6.8% and 8% MoM, and down 0.7% and 0.3% YoY, respectively. From January to July, auto production and sales totaled 17.567 million units and 17.602 million units, both down 3.7% YoY, with the decline narrowing further versus H1. CAAM: NEV production and sales both rose over 20% YoY in July; from January to July, NEV new-vehicle sales reached 51.2% of total new-vehicle sales In July, NEV production and sales totaled 1.576 million units and 1.561 million units, up 26.8% and 23.7% YoY, respectively . NEV new-vehicle sales reached 60.4% of total new-vehicle sales. From January to July, NEV production and sales totaled 9.014 million units and 9.007 million units, up 9.5% and 9.6% YoY, respectively , and NEV new-vehicle sales reached 51.2% of total new-vehicle sales. CAAM: Auto exports exceeded 1 million units for two consecutive months; the share of NEV exports exceeded 50% for two consecutive months In July, auto exports were 1.043 million units, up 0.6% MoM and up 81.3% YoY . From January to July, auto exports were 6.14 million units, up 66.8% YoY. In July, NEV exports were 553,000 units, up 5.7% MoM and up 1.5x YoY ; traditional fuel vehicle exports were 490,000 units, down 4.6% MoM and up 40% YoY. From January to July, NEV exports were 2.909 million units, up 1.2x YoY; traditional fuel vehicle exports were 3.231 million units, up 36.2% YoY. Regarding the auto market in July, CAAM analyzed that in July, the auto market entered the traditional sales off-season, with foot traffic and orders naturally pulling back. Coupled with factors such as some demand being released early due to the mid-year sales push, persistent nationwide high temperatures, and typhoons and flood disasters in some regions affecting offline sales, the market showed a seasonal pullback on a MoM basis and edged down YoY. Exports continued to maintain rapid growth, with monthly exports exceeding 1 million units for two consecutive months, and the share of NEV exports exceeding 50% for two consecutive months; the share of NEVs in monthly new-car sales exceeded 60% for the first time, and the cumulative share exceeded 50% for the first time. On July 30, the Political Bureau of the CPC Central Committee convened a meeting to deploy economic work for H2, explicitly proposing to implement a more proactive fiscal policy and a moderately accommodative monetary policy, fully leverage the effectiveness of existing policies, and promptly plan and introduce pragmatic and effective incremental policy, while stepping up countercyclical adjustments. It called for effectively expanding domestic demand and fostering a fair and orderly market competition environment. The meeting made a series of important deployments, releasing multiple positive signals that will help stabilize confidence, boost consumption, and promote the steady operation of the industry. Meanwhile, the CPCA also released relevant data for the passenger car market in July. In July 2026, nationwide passenger car market retail sales were 1.461 million units, down 20.9% YoY and down 8.8% MoM; cumulative retail sales since the beginning of this year were 10.173 million units, down 20.3% YoY. In July 2026, China’s passenger car market showed an operating trend of “total volume remaining under pressure, weakening MoM, and an extremely polarized structure,” with the off-season downturn becoming more pronounced and the industry’s structural adjustment further deepening. For passenger NEVs, in July, passenger NEV market retail sales were 951,000 units, down 3.9% YoY and down 5.8% MoM; from January to July, passenger NEV market retail sales were 5.668 million units, down 12.5% YoY. In July, retail sales of conventional fuel passenger cars were 510,000 units, down 41% YoY and down 14.2% MoM; among them, regular hybrid car models were down only 4% YoY and down 5% MoM. In terms of NEV exports, in July, passenger NEV exports were 540,000 units, up 147.8% YoY and up 8.1% MoM . They accounted for 58.8% of passenger car exports, up 14 percentage points compared to the same period last year; among them, BEVs accounted for 59.5% of NEV exports (65.1% in the same period last year), and A00+A0-class BEVs, the core focus, accounted for 42.2% of BEV exports (36.6% in the same period last year). As the scale advantage of China’s NEVs becomes evident and market expansion needs grow, new energy brand products made in China are increasingly going global, with recognition outside China continuing to rise. Among them, narrow PHEVs accounted for 35.9% of new energy exports (32.4% in the same period last year), and range-extended vehicles accounted for 4.6% (2.5% in the same period last year). Although there have recently been some disruptions from external countries, exports of domestically branded narrow PHEVs to developing countries have grown rapidly, with a promising outlook. The CPCA stated that in July 2026, China’s passenger vehicle market showed an operating trend of “overall volume remaining under pressure, weakening MoM, and extremely polarized structure,” with the off-season downturn becoming more pronounced and the industry’s structural adjustment further deepening. The weakening auto market in July 2026 resulted from the combined resonance of multiple factors, including a rebound in oil prices, macro weakness, the seasonal off-season, earlier demand being pulled forward, and policy transitions. Geopolitical conflicts disrupted navigation through the Strait of Hormuz, driving international oil prices to drift higher; in 2026, China’s domestic gasoline prices were cumulatively raised by 1,575 yuan/mt, significantly increasing driving costs. Consumer demand for internal combustion engine passenger vehicles contracted sharply, while the impact on commercial vehicles was minimal. Meanwhile, July CPI and PPI pulled back MoM and PMI sentiment weakened; residents’ income and consumption expectations were relatively cautious, willingness to purchase big-ticket durables remained subdued, and spending on housing and travel continued to weaken, dragging down end-use demand in the auto market. In addition, the July off-season high temperatures suppressed offline store traffic, and June’s mid-year sales push pulled demand forward, causing terminal orders and foot traffic to pull back in tandem. Moreover, the new national safety standard for new energy was formally implemented, raising the industry’s technical threshold, and the short-term exit the market of low-end car models disrupted the market. However, the July Politburo meeting made clear stronger fiscal support and intensified policies to expand domestic demand and boost consumption, providing a floor for the auto market; the current downturn is a phased, structural fluctuation rather than a trend-level deterioration of the industry. Overall, the passenger vehicle market in July 2026 showed five salient characteristics: (1) Overall volume remained under pressure and structural divergence was amplified to the extreme; “deep cooling in internal combustion engine vehicles and strong leadership by new energy” became the core market theme, and oil price fluctuations dictated the pace of “ICE-to-NEV substitution”; (2) Internal combustion engine vehicles contracted across the board, with pure ICE models nearly stalling while hybrid models were relatively resilient, leading to continued optimization of the internal structure of ICE vehicles; (3) The penetration rate of new energy continued to hit new highs, with compliant products under the new national standard launched in concentrated iterative cycles on the supply side, and the industry shifted comprehensively from price involution to value competition; (4) Exports continued to play a stabilizing role, effectively steadying automakers’ wholesale and capacity and easing pressure from weak domestic retail; (5) Industry inventory continued to be reduced in a healthy manner, with producer and channel inventory declines widening in tandem, overall inventory risks fully released, operating pressure easing steadily, and overall resilience partially recovering. Power batteries From January to July, China’s cumulative production of power batteries and ESS batteries totaled 1,286.9 Gwh, up 54.9% YoY. In July, China’s combined production of power batteries and ESS batteries was 218.0 Gwh, up 5.8% MoM, up 62.9% YoY . From January to July, China’s cumulative production of power and ESS batteries totaled 1,286.9 GWh, up 54.9% YoY on a cumulative basis. From January to July, China’s cumulative exports of power and ESS batteries reached 216.6 GWh, up 43.9% YoY on a cumulative basis In July, China’s combined exports of power and ESS batteries totaled 35.2 GWh, down 2.7% MoM , up 51.7% YoY , accounting for 19.0% of monthly sales. Of this total, power battery exports were 24.0 GWh, accounting for 68.0% of total exports, down 6.0% MoM and up 62.1% YoY; ESS battery exports were 11.3 GWh, accounting for 32.0% of total exports, up 4.9% MoM and up 33.4% YoY. From January to July, China’s cumulative exports of power and ESS batteries reached 216.6 GWh, up 43.9% YoY on a cumulative basis , accounting for 18.6% of cumulative sales. Of this total, cumulative power battery exports were 146.7 GWh, accounting for 67.7% of total exports, up 52.1% YoY on a cumulative basis; cumulative ESS battery exports were 69.9 GWh, accounting for 32.3% of total exports, up 29.3% YoY on a cumulative basis. From January to July, China’s cumulative power battery installations totaled 410.2 GWh, up 15.4% YoY on a cumulative basis In July, China’s power battery installations were 74.6 GWh, down 2.5% MoM , up 33.5% YoY. Of this total, ternary battery installations were 11.1 GWh, accounting for 14.9% of total installations, down 12.1% MoM and up 1.8% YoY; LFP battery installations were 63.1 GWh, accounting for 84.6% of total installations, down 1.0% MoM and up 40.5% YoY. From January to July, China’s cumulative power battery installations totaled 410.2 GWh, up 15.4% YoY on a cumulative basis. Of this total, cumulative ternary battery installations were 74.5 GWh, accounting for 18.2% of total installations, up 12.1% YoY on a cumulative basis; cumulative LFP battery installations were 335.1 GWh, accounting for 81.7% of total installations, up 16.0% YoY on a cumulative basis. In July, Leap Motor Deliveries Surpassed 100,000; BYD’s Overseas Sales Hit Another Record High Among new automakers in July, Leap Motor continued to gain momentum, with deliveries reaching 101,267 units in July , up 102% YoY, surpassing the 100,000 mark for the first time on a monthly basis , becoming the first new automaker brand in China to achieve monthly deliveries exceeding 100,000 units, and ranking among the leaders across the entire new energy industry. The second-ranked NEV startup automaker was XPeng Group. In July, XPeng Group delivered a total of 38,027 vehicles, up about 4% YoY . As of July, XPeng Group’s cumulative global deliveries surpassed 1.2 million units. In terms of charging stations, as of July 31, XPeng charging covered 430 cities, with more than 3,800 cumulative self-operated charging stations, including over 3,300 self-operated ultra-fast charging stations, continuously providing users with a more convenient and efficient charging experience. NIO delivered a total of 35,934 vehicles in July, up 71.0% YoY. Of these, the NIO brand delivered 20,008 vehicles, up 57.9% YoY; the ONVO brand delivered 10,155 vehicles, up 69.9% YoY; and the firefly brand delivered 5,771 vehicles, up 143.9% YoY. In the first seven months of 2026, NIO delivered a total of 227,057 vehicles, a record high, up 68.0% YoY, with all three brands setting record highs in deliveries over the first seven months. The NIO brand delivered 139,496 vehicles, up 60.1% YoY; the ONVO brand delivered 52,618 vehicles, up 39.1% YoY; and the firefly brand delivered 34,943 vehicles, up 242.3% YoY. To date, NIO has delivered a cumulative total of 1,224,649 vehicles. Li Auto delivered 30,468 vehicles in July. As of July 31, 2026, Li Auto’s cumulative historical deliveries totaled 1,764,155 vehicles. Li Auto said that as of July 31, 2026, it had 490 retail centers nationwide, covering 159 cities; and 536 after-sales maintenance centers and authorized service centers, covering 219 cities. Li Auto had put into use 4,141 Li Auto supercharging stations nationwide, with 22,841 charging piles. As for Xiaomi Auto, its July deliveries again exceeded 30,000 units. To date, Xiaomi Auto has delivered more than 30,000 units for four consecutive months. Notably, since officially entering the automotive market in 2024, Xiaomi Auto has launched two car models, including the SU7 and YU7. As of month-end July, the two car models had delivered a cumulative total of over 700,000 units. As for EV leader BYD, its July sales reached 419,211 units, with exports of nearly 180,000 units, setting another record high. From January to July 2026, cumulative sales totaled 2,227,722 units, and cumulative NEV sales exceeded 17.3 million units. In July 2026, BYD exported 180,538 NEVs. In the same month, NEV production was 420,249 units, versus 317,892 units in the same period last year; cumulative production this year totaled 2,234,379 units, versus 2,454,925 units last year, down 8.98% on a cumulative YoY basis. Sales totaled 419,211 units, versus 344,296 in the same period last year; cumulative sales this year reached 2,227,722 units, versus 2,490,250 last year, down 10.54% YoY on a cumulative basis. Looking ahead to August, the CPCA expected the overall passenger car market in August 2026 to show an operating pattern of “weak recovery in total volume and sharp structural divergence.” With 21 production-and-sales working days compounded by the off-season of extreme heat, the end-use market’s recovery pace remained mild, and a mix of macro and industry factors jointly shaped the market landscape. Affected by disruptions to navigation through the Strait of Hormuz, international oil prices drifted higher in July, and China’s refined oil prices were raised by nearly 985 yuan/mt in total across two rounds, significantly lifting the costs of using and maintaining internal combustion engine vehicles and continuing to suppress users’ willingness to purchase them. Demand for traditional internal combustion engine vehicles continued to weaken, which also became a key external tailwind for new energy vehicles to strengthen against the trend, continuously expanding growth room for new energy car models in China and in markets outside China. Overall, the CPCA expected the auto market in August to be in a bottoming phase of rebuilding momentum and recovery. As various policies to stabilize consumption were gradually implemented, together with a gradual improvement in the base effect, the decline in the passenger car market was expected to narrow steadily, and the industry was set to formally enter a mature development stage of “value-driven growth and structural optimization,” building momentum and paving the way for the traditional September-October peak season.

[SMM Analysis: Copper Wire Rod Exports in July Pulled Back Nearly 30% MoM, High Copper Prices and High Premiums Dampened Foreign Demand] In July, total exports of copper wire rod (HS codes 74081100 and 74081900) decreased MoM but increased YoY. The specific data are as follows:......