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According to data, China's total imports of recycled copper raw materials reached 2.34 million physical tons in 2025, up 3.96% year-on-year from 2.25 million physical tons in 2024. However, the source structure shifted markedly. Among the top five supplier countries, imports from the United States plunged 67.88% year-on-year amid ongoing China-US trade tensions, while imports from Malaysia fell 32.61% due to tightening scrap import policies. Offsetting these declines, imports from Thailand surged 88.58%, and those from Japan and South Korea rose 32.96% and 32.95% respectively, driving a continued increase in Asia's overall share of supply.

[SMM Tin Midday Review: Macro Sentiment Retreat and Supply Recovery Expectations Lead to Over 7% Decline in the Most-Traded SHFE Tin Contract]

[SMM News Flash] Inventory of secondary aluminum alloy ingots in major domestic consumption areas decreased by 364 mt MoM from the previous day, with destocking mainly concentrated in the Foshan area.

[smm aluminum alloy futures review] the most-traded al2604 futures contract fluctuated upward today. after a slight pullback in the early session, it stabilized and continued to rise in the afternoon, reaching the day's high at the close. it closed at 23,180 yuan, up 450 yuan/mt from the previous close, with a gain of 1.98%. trading volume was 14,947, and open interest was 6,875, mainly due to short positions being reduced. during the day, trading volume slightly increased while open interest decreased, indicating a rise on reduced positions. the price broke through the recent range, closing with a bullish candlestick. the kdj indicator turned upward, suggesting that bulls had an advantage in the short term, and the sentiment in the futures market was relatively strong.

[Secondary Aluminum Alloy Daily Review] Today, the quotations in the secondary aluminum alloy market were generally raised. Before noon, manufacturers generally increased prices by 100 yuan/mt, and some enterprises, supported by bullish expectations and low finished product inventories, raised their prices by up to 200 yuan/mt. In the afternoon, futures significantly surged, further strengthening market sentiment, and some manufacturers followed suit with another price hike, resulting in a cumulative increase of 100-400 yuan/mt for the day. As enterprises gradually resumed production, market supply slowly recovered, and willingness to sell among manufacturers improved; however, the pace of resumption of work downstream after the holiday was relatively mild, and the release of orders remain

[SHFE Tin Midday Review: Overseas Mining Bottlenecks Advance, SHFE Tin Contract Retreats from Highs Amid Stable Supply Expectations]

Copper is making a comeback globally as electrification, renewable energy buildout, and AI infrastructure demand drive fundamentals.

[ SMM Tin Noon Review: SHFE Tin Contracts Strengthened by Overseas Conflict Events, Downstream Enterprises Mostly Digest Inventories and Operate on a Wait-and-See Basis ]

Tasmania is planning tougher legislation to curb rising copper and scrap metal theft, with industry groups backing expanded enforcement and harsher penalties.

[SMM Express] Today, the inventory of secondary aluminum alloy ingots in major domestic consumption areas decreased by 535 mt MoM from the previous day, with destocking mainly concentrated in the Foshan region.

The International Copper Study Group reports that global refined copper output rose in 2025, with secondary production from scrap increasing faster than primary, as inventories climbed.

[SMM Flash] According to SMM data, the operating rate of leading enterprises in the secondary aluminum industry this week rebounded by 6.3 percentage points compared to the week before the holiday, mainly due to the concentrated start of post-holiday production resumptions. The overall resumption process in the first week after the holiday was relatively slow, with most enterprises gradually resuming work from the eighth to the fifteenth day of the first lunar month, initially focusing on furnace preheating. Although this drove a MoM improvement in the operating rate, the overall level had not yet returned to normal. On the demand side, the resumption of work in end-use industries progressed in an orderly manner, but order releases were not yet evident, with downstream procurement mainly f

[SMM Aluminum Express] According to SMM statistics, the social inventory of secondary aluminum alloy ingots in mainstream domestic consumption areas decreased by 106 mt WoW on Thursday, showing a slight overall destocking.