Copper prices in China fell before rebounding during the reporting period (June 8-12), with the weekly average lower week on week. Macro headwinds weighed heavily on the market. The U.S.-Iran geopolitical situation remained uncertain, causing sentiment to swing. Meanwhile, U.S. May CPI rose by 4.2% year on year, breaching the 4% mark for the first time in three years, and May PPI jumped by 6.5% year on year, the largest increase since November 2022. Also, the European Central Bank raised rates by 25 basis points under inflationary pressure. Elevated inflation stemming from military conflicts, together with unstable international trade, kept copper prices under pressure.