China's refined copper prices rose and then fell during the reporting period (September 7-11), with the overall price level moving up week on week. Macro factors weighed heavily on copper prices. U.S. inflation readings rose more than expected, fueling rate-hike expectations and lifting the USD index, which in turn capped copper prices. Meanwhile, fading expectations of U.S. tariffs on refined copper also caused prices to drop sharply last Friday. However, tight raw material and refined copper supply, together 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. As a result, the overall price level still edged up week on week last week.