According to SMM, suppliers of bare bright copper in Foshan, Guangdong, quoted prices of 70,700-70,900 yuan/mt during the day. Even if copper rod enterprises were willing to transact at these prices, they could only procure 1-3 truckloads of secondary copper raw material, resulting in very limited procurement volume. Additionally, SMM's theoretical gross profit model for secondary copper rod shows that the theoretical gross profit value of selling secondary copper rod has fallen to the range of -100 to -200 yuan/mt due to the impact of high secondary copper raw material prices. To control losses, secondary copper rod enterprises had to increase the selling price of secondary copper rod. Today, the price of secondary copper rod was at a premium of 250-350 yuan/mt against the futures market, and market transactions were sluggish.