[Analysis: Changes in the Recycling Industry May Completely Reverse Business Models] Recently, a notice (No. 770) issued by the National Development and Reform Commission (NDRC) along with four other ministries regarding 2025 has sparked widespread discussion in the market. The notice mainly targets irregular investment attraction practices across various regions, requiring local governments to implement relevant regulations on investment attraction within a set timeframe. At the same time, for all existing policies involving fiscal returns, subsidies, and other incentives related to investment attraction, if they violate the central party and State Council's deployment and requirements for standardizing investment attraction, they must be cleared and abolished by the end of August 2025 ...

SMM data shows that the operating rate of enamelled wire industry machinery decreased by 0.2 percentage points WoW to......

[SMM Spot Copper] Looking ahead to next week, after entering the SHFE copper 2509 contract, the current price spread between futures contracts for adjacent months is relatively small. It is expected that spot premiums will still be quoted around 100 yuan per mt. However, with imported cargoes arriving at downstream ports, mostly registered cargoes, it is anticipated that holders of cargoes will have a mindset of selling off in advance, putting some pressure on spot premiums.

Today, spot #1 copper cathode in North China was trading at a discount of 100 yuan/mt to 60 yuan/mt against the front-month contract, with an average discount of 80 yuan/mt, down 10 yuan/mt from the previous trading day. The transaction price ranged from 78,870 yuan/mt to 78,980 yuan/mt, with an average price of 78,925 yuan/mt, down 230 yuan/mt from the previous trading day.

Futures: Overnight, LME copper opened at $9,775.5/mt, initially plunged straight to a low of $9,714/mt, then fluctuated considerably upward, touching a high of $9,780/mt near the close, and finally settled at $9,777/mt with a 0% change.