This week, the secondary copper market showed a divergent pattern under the dual influence of improving macro expectations and policy uncertainties. Copper prices fluctuated upward, with a weekly increase of 500 yuan/mt, and the price of bare bright copper in Guangdong rose to 77,800-78,000 yuan/mt, a synchronized increase of 500 yuan/mt. The rise in copper prices boosted market sentiment, with the sales sentiment index of secondary copper raw material suppliers rising from 2.31 to 2.36, while the procurement sentiment index of secondary copper rod enterprises also edged up from 2.42 to 2.43, reflecting market optimism about the positive progress in China-US trade talks and expectations for US Fed interest rate cuts.