SMM Morning Meeting Summary: The US dollar's continuous rebound has exerted some upward pressure on copper prices. On April 23, spot prices of SMM #1 copper cathode against the SHFE copper 2505 contract were reported at a premium of 160-210 yuan/mt, with an average premium of 185 yuan/mt, up by 5 yuan/mt from the previous trading day. The futures market rose above 78,000 yuan/mt, and downstream procurement sentiment was suppressed yesterday, leading to a decline in procurement volume.

【US Attitude Softens, US Dollar Rebounds, LME Copper and SHFE Copper Jump Initially and Then Pull Back Under Pressure】Macro side, British media: Trump plans to exempt some tariffs for automakers, the EU has proposed an initiative to purchase more US liquefied natural gas, and plans to reduce tariffs on some goods. US Treasury Secretary: US-Japan trade talks did not set specific currency targets, a total of 12 US states sued the Trump administration for "illegal" abuse of tariff policies. Meanwhile, US Treasury Secretary Besant stated that America First does not mean the US "goes it alone." Reiterated that the US still adheres to a strong dollar policy. As Trump and Besant released optimistic signals in trade negotiations...