September Copper futures experienced an intraday reversal, gapping higher at the open before trading lower to test the 6.2895 level. Market sentiment was influenced by mixed economic data from China, where second-quarter GDP grew at 4.3%, marking the slowest pace since 2022. While industrial production and exports provided support, weakness in fixed-asset investments and the property sector continued to limit overall demand. On the supply side, global copper production faces ongoing headwinds. BHP reported a 3% decline in full-year production to approximately 2 million tons, citing lower ore grades at major Chilean operations. This highlights a broader industry trend of aging mines, potentially setting the stage for tighter concentrate supplies if smelter demand increases later in the year.