Sellers' Offers Were High in the Early Market, Inquiries Were Active but Transactions Were Weak [SMM Yangshan Spot Copper]

April 7, 2026: The average warrant price fell $2/mt from the previous trading day, closed at $63/mt (price range $58-68/mt); the average B/L price was flat from the previous trading day, closed at $61/mt (price range $56-66/mt); the average EQ copper (CIF B/L) price fell $1/mt from the previous trading day, closed at $33/mt (price range $26-40/mt), with quotes referencing cargoes arriving from mid-April to early May.

  During the day, B/L offers remained high, but buyers showed weak acceptance. The trading range was largely in line with last Thursday, but trading volume was low. A small volume of ER copper B/L arriving in mid-April was heard offered at $70/mt, QP May; EQ B/L arriving in mid-April was offered at $40/mt, EQ B/L arriving in mid-to-late April was offered at $40/mt, B/L arriving in mid-May was offered at $55/mt, with a small volume traded at $28-33/mt, QP May. General ER copper warrants for delivery within this week were offered at $60/mt, QP May.