["[Macro Pressures Intertwined with Wait-and-See Demand, Copper Prices Decline Overnight]: On the macro side, the US Fed kept interest rates unchanged for the third consecutive time, emphasizing in its statement the heightened risks of inflation and rising unemployment. Powell highlighted uncertainties and the low cost of continuing to wait and see, indicating no urgency to cut interest rates. The strength of the US dollar index weighed on copper prices. On the fundamental side, from the demand perspective, there was a clear divergence. In the morning session, market purchasing sentiment was moderate, with active trading of spot copper premiums for different brands. However, as the price spread between futures contracts widened in the afternoon, purchasing sentiment cooled rapidly, with few actual transactions. Additionally, there were instances of bargain down purchasing prices downstream, reflecting an overall cautious wait-and-see approach to demand. In terms of prices, after the sentiment is digested, copper prices are expected to still have some upside room today."]