According to SMM, the current supply of secondary copper raw materials in the market remains extremely tight, with both domestic and imported sources experiencing shortages. Despite the continued market demand, many traders are actively seeking ways to import secondary copper raw materials, but overseas offers are scarce, making it difficult to achieve large-scale purchases. In addition, affected by Trump's tariff policies, traders generally refuse US sources, which are more likely to be absorbed in local markets such as Japan and Thailand. In the coming months, imports are expected to maintain a trend of "decreasing volume and rising prices," with the market shares of Japan and Thailand expected to exceed 18% and 14%, respectively, while the US share may fall below the psychological threshold of 10%.