On July 10, the average warrant price rose by $1/mt from the previous trading day, closing at $83/mt (quotation range $76-90/mt); the average B/L price was flat from the previous trading day, closing at $82/mt (quotation range $74-90/mt); the average price for EQ copper (CIF B/L) increased by $1/mt from the previous trading day, closing at $53/mt (quotation range $49-57/mt), with quotations referencing cargoes arriving between July and mid-August.
The SHFE/LME price ratio pulled back today. Available supply in the market remained tight, and market quotations continued to stay firm. However, some suppliers indicated they were temporarily holding back shipments to observe trends, resulting in sparse spot market transactions during the day. It is heard that registered warrants for delivery from late July to early August were quoted at $90-95/mt today, while EQ copper quotations for July to August shipment showed a wide range, mainly quoted at $55-65/mt.
![Weak Off-Season Demand and Persistent Raw Material Constraints Lead to Slight Pullback in Brass Billet Operating Rates [SMM Brass Billet Market Weekly Review]](https://imgqn.smm.cn/usercenter/HfIIS20251217171709.jpg)
![[SMM Overseas Copper Scrap Weekly Review] Copper prices drifted higher, while tight supply supported the discount to buck the trend and rise.](https://imgqn.smm.cn/usercenter/KtfdC20251217171713.jpeg)
