中国材料：与 SMM 铜专家电话会议要点；受政策干扰，2025 年 9 月中国铜阴极产量环比下降-China Materials_ Takeaways from Copper Expert Call with SMM; China Copper Cathode Output to Decrease MoM in Sep 2025 on Policy Disruption

Flash | 01 Sep 2025 10:32:15 ET │ 9 pages China Materials Takeaways from Copper Expert Call with SMM; China Copper Cathode Output to Decrease MoM in Sep 2025 on Policy Disruption CITI'S TAKE We hosted a copper expert call with SMM on 1st Sep. Mr. Ye Jianhua, Chief Copper Analyst at SMM, attended the meeting. SMM expects the policy of Regulating Investment Promotion Activities (see our note here) that takes effect from 1st Sep 2025 will likely increase the tax burden of recycling copper producers and result ...