Base metals collectively retreat, with copper leading the decline. After reaching a historic high, the market has begun to reassess the global demand outlook, especially concerns over the economic growth rate of China, the largest consumer. As an economic indicator, copper's movements often reflect investors' true views on global growth. The current selling pressure indicates that market participants are digesting a stark reality: even if supply constraints exist, demand-side uncertainties may be more decisive. This round of adjustment is not limited to copper; other base metals are also declining in tandem, further confirming market concerns about demand destruction. For traders focused on macroeconomic cycles, this signal is worth paying attention to.