Import Window Opened Intraday, Active Morning Inquiries Pushed Up Offers [SMM Yangshan Spot Copper]

     March 16, 2026: Today, the average warrant price rose by $1/mt from the previous trading day and closed at $46/mt (price range $42-50/mt); the average B/L price rose by $1/mt from the previous trading day and closed at $45/mt (price range $41-49/mt); the average EQ copper (CIF B/L) price rose by $2/mt from the previous trading day and closed at $21/mt (price range $17-25/mt), with quotations referring to cargoes arriving from late March to mid-April.

   The import window opened intraday, and importers were active in making inquiries. Market offers were pushed higher than last Friday, but few deals were concluded before the end of the morning session, with most traders taking a wait-and-see stance. It was heard that a small volume of ER copper B/L arriving in late March was offered at $50-60/mt, QP April; EQ B/L arriving in late March and early April was offered at $35, and EQ B/L arriving in mid-to-late April was offered at $35/mt, QP May. General ER copper warrants for delivery within the week were offered at $50/mt, QP April.