Copper prices in China declined before rebounding during the reporting period (July 27-31), with the weekly average price edging slightly lower week on week. From a macro perspective, the U.S. dollar index fell consecutively from mid-week as the Federal Reserve held rates steady for a fifth straight meeting and U.S. GDP and PCE growth slowed more than expected, supporting dollar-denominated commodity prices. However, the fundamentals exerted some restraint on copper prices, with rising copper imports and slowing month-end downstream procurement, China's refined copper retail inventory rose week on week, exerting downward pressure on copper prices and spot premiums.