[SMM Announcement] Announcement on Adjustment of SMM Monthly Supply-Demand Balance for Recycled Copper Raw Materials (Including Future Forecasted Values)

Dear Customer,  
To keep pace with the rapid development of the recycled copper raw materials industry and meet the market's demand for in-depth analysis of the recycling industry and the supply-demand pattern of copper cathode, our company has conducted a comprehensive optimization of the data model. We are now systematically upgrading and adjusting the standards and content of China's monthly supply-demand balance data for recycled copper raw materials, with the following treatment applied to historical data:  

I. Adjustments  
This upgrade primarily optimizes and updates the following indicators in the balance table:  
"Supply of Old Scrap from Recycled Copper Raw Materials," "Supply of New Scrap from Recycled Copper Raw Materials," "Processing Volume of Recycled Copper Raw Materials," and "Smelting Volume of Recycled Copper Raw Materials." (Data modification path: Database > Copper > SMM Recycled Copper > Monthly Supply-Demand Balance Table for Copper Scrap)  

II. Historical Data Treatment  
Historical monthly supply-demand balance data for recycled copper raw materials will no longer be updated starting from September 2025. Subsequent data will be uniformly released under the new standard, with the revised data retroactively applied from January 2025. Should you have any questions, please feel free to contact the SMM Customer Service Team. Thank you for your continued support and trust!  

IV. Effective Date  
Effective from January 1, 2026  

SMM Information & Technology Co., Ltd.  
SMM Copper Research Team  
Liang Kaihui 86-21-5159-5826  
December 19, 2025