[SMM spot copper] Looking ahead to tomorrow, as warrants fail to flow out in large quantities during the delivery period, it is expected that spot copper will remain firm tomorrow. However, the price spread between different brands may continue to widen, and the transaction price in the Changzhou area may decline further.

Today, spot #1 copper cathode in North China traded at a discount of 180 yuan/mt to 100 yuan/mt against the front-month contract, with an average discount of 140 yuan/mt, a decrease of 30 yuan/mt from the previous trading day. The transaction prices ranged from 77,720 yuan/mt to 77,930 yuan/mt, with an average price of 77,825 yuan/mt, an increase of 60 yuan/mt from the previous trading day.

Futures market: Overnight LME copper opened at $9,635.5/mt, initially fluctuated downward to hit a session low of $9,598/mt, then steadily climbed upward and reached a session high of $9,657.5/mt near the close, finally closing at $9,657.5/mt with a 0.15% gain.

Trump's announcement of a 50% tariff on copper imports has sent shockwaves through global metals markets, creating both challenges and opportunities across various industries.