Intraday spot transactions were limited suppliers mostly offered quotes and waited [SMM Yangshan spot copper]

        March 2, 2026: Warrant prices were $43-51/mt, QP March, with the average price down by $3/mt from the previous trading day; B/L prices were $42-52/mt, QP March, with the average price unchanged from the previous trading day. EQ copper (CIF B/L) was quoted at $15-23/mt, QP March, with the average price also unchanged, referencing cargoes arriving in late February and early March.

     The market remained largely consistent with the previous day, with supply and demand in balance. It was heard that a small volume of pyrometallurgy B/Ls arriving in late February was closed at $55-60/mt, QP March; EQ B/L offers for late February and early March arrivals were at $25-30, while those for mid-to-late March arrivals were at $30/mt, QP April. Warrant prices saw a significant rise, with pyrometallurgy and two-brand B/Ls quoted at $60-65/mt, QP March-April.