【SMM Analysis: Raw Material Procurement Improves, Operating Rate of Secondary Copper Rod Marginally Improves】According to SMM survey data, the operating rate of secondary copper rod this week was 22.53%, up 0.53 percentage points WoW, but down 11.17 percentage points YoY. Meanwhile, the average price difference between copper cathode rod and secondary copper rod this week was 993 yuan/mt, up 489 yuan/mt MoM. Additionally, the average discount of secondary copper rod in Jiangxi against copper futures was 264 yuan/mt, down 345 yuan/mt MoM...

【SMM Analysis: Copper Prices Rebounded, Secondary Copper Raw Material Suppliers Sold at High Prices】During the week, the center of copper prices shifted upward, with an increase of 1,400 yuan/mt. The price of bare bright copper in Guangdong rebounded to 71,800-72,000 yuan/mt, up 900 yuan/mt. After the temporary easing of the U.S.-China trade war, copper prices were restored, and secondary copper raw material suppliers were also willing to sell inventory secondary copper raw materials to replenish cash flow. According to the weekly raw material inventory data of secondary copper rod sample enterprises, the raw material inventory of secondary copper rod enterprises this week was 4,650 mt, up 500 mt WoW...