Copper Prices in China See Weekly Rise Amid Macro Headwinds

China's refined copper prices saw an increase followed by a decrease during September 7-11, but still managed to rise week on week. The price movement was heavily influenced by macro factors, particularly the release of U.S. inflation readings which exceeded expectations.

This led to higher rate-hike expectations and a subsequent increase in the USD index, causing copper prices to be capped. Additionally, fading expectations of U.S. tariffs on refined copper contributed to a sharp price drop last Friday.

However, despite these fluctuations, tight raw material and refined copper supply, coupled with a release of buying demand after the price decline, kept China's refined copper retail inventory on a downward trend and supported the price floor.