Copper prices in China fluctuated at high levels during the reporting period (August 10-14), with the price center edging up slightly. On the macro front, moderate U.S. inflation data for July eased market expectations of Fed rate hikes and kept the U.S. dollar index trading at low levels, which in turn supported copper prices. On the fundamentals front, tight raw material supply and planned exports limited smelter shipments to the domestic spot market. Meanwhile, imported copper was also affected by trade losses and typhoon weather, further constraining supply. Downstream purchases slowed amid elevated prices, futures delivery, and limited new orders. With both supply and demand subdued, refined copper spot premiums fell sharply.