【SMM Copper Inventory Update】 As of August 25, SMM's national mainstream copper inventories increased by 4,100 mt to 127,100 mt MoM. According to SMM, imported copper continued to arrive this week, and with the weakening of downstream consumption at month-end, it led to a stop in the decline and a rebound in inventories. SMM expects that imported copper will continue to arrive, and as the beginning of the month approaches, the financial pressure on downstream enterprises will ease, leading to an increase in purchasing enthusiasm. It is projected that copper inventories will increase slightly MoM.