SMM Copper Morning News: Fundamentally, copper prices surged above 78,000 yuan/mt yesterday, significantly dampening downstream purchasing sentiment and reducing overall trading activity. However, due to continued destocking, supplier quotations remained firm. Overall, the US trade negotiation stance softened, while the US Fed's Beige Book indicated that economic uncertainty increased due to tariffs and other factors, with the outlook for multiple regions significantly deteriorating. Amid risks of worsening economic prospects and a rebounding US dollar, copper prices are expected to face some upward pressure today.