Port Arrivals Expected to Increase in February, Market Shifts to Buyer's Market [SMM Yangshan Spot Copper]

        January 16, 2026: Today, warrant prices were $24-40/mt, QP January, with the average price down $6/mt from the previous trading day; B/L prices were $28-44/mt, QP February, with the average price down $5/mt from the previous trading day. EQ copper (CIF B/L) was quoted at -$10/mt to $4/mt, QP February, with the average price down $7/mt from the previous trading day. Offers referred to cargoes arriving in mid-to-late January and early February.

   During the day, it was heard that two EQ bulk carriers would arrive in February, and suppliers showed a high willingness to sell. Warrant offers were heard at $30-35, QP January; transactions were concentrated around $20-25/mt, with a small volume of early February delivery cargoes heard traded at $30/mt, QP February. A small volume of pyrometallurgy B/Ls for late January arrival were offered at $20-25/mt, QP February; EQ B/L offers for early February arrival were quoted at $0-10, while EQ B/Ls for late January arrival were quoted at -$5 to $5/mt, with transactions heard at -$10 to $0, QP February.