Copper prices in China rose before falling during the reporting period (June 1-5), with the average price rising slightly week on week. On one hand, the looming implementation of U.S. tariffs triggered a rise in COMEX copper premiums, while cross-regional flows of refined copper amplified expectations of supply tightening in non-U.S. markets, supporting copper prices. Meanwhile, tight raw material supply and concentrated smelter maintenance in China also provided a floor for prices. On the other hand, U.S. labor market data far exceeded expectations, fueling Fed rate hike expectations, which in turn boosted the U.S. dollar index and weighed on copper prices. Amid these conflicting forces, copper prices fluctuated at elevated levels last week.