China's refined copper prices moved higher during the reporting period (September 21-24), with fundamentals providing strong support. As the Mid-Autumn Festival (September 25-28) and China's National Day holidays (October 1-7) approached, downstream feedstock restocking demand rose. Meanwhile, some domestic smelters had low finished-product inventories and prioritized long-term contract shipments before the holiday, keeping spot shipments relatively low. Although imported copper arrivals increased in some markets, the increment was limited. With tight supply and improving demand, China's refined copper retail inventory fell further, strongly supporting copper prices and spot premiums.