According to SMM, copper prices have been fluctuating rangebound recently, and market sentiment has stabilized. Feedback from secondary copper rod enterprises indicates that the environment for raw material procurement has improved compared to the previous period, with suppliers showing increased willingness to sell. However, these enterprises still maintain a purchasing as needed strategy, and there has been no large-scale inventory build-up. Currently, the industry generally adopts a "low inventory, high turnover" model to mitigate the risks of price fluctuations.