Daytime spot supply-demand maintains balance Yangshan copper premiums stabilize [SMM Yangshan spot copper]

        February 26, 2026: Today, warrant prices were $45-55/mt, QP March, with the average price flat from the previous trading day; B/L prices were $42-52/mt, QP March, with the average price flat from the previous trading day; ER copper (CIF B/L) was $15-23/mt, QP March, with the average price flat from the previous trading day. Quotations referred to cargoes arriving in late February and early March.

     The intraday market remained largely consistent with yesterday, with supply and demand in balance. A small amount of pyrometallurgy B/L for late February arrival was heard closed at $55-60/mt, QP March; ER B/L for late February and early March arrival were offered at $25-30/mt, QP March, while ER B/L for mid-to-late March arrival were offered at $30/mt, QP April. Warrant prices rose sharply, with pyrometallurgy and two-brand B/L offered at $60-65/mt, QP March-April.