Intraday Spot Transactions Weakened, Buyer Demand Sluggish [SMM Yangshan Spot Copper]

Published: Jun 25, 2026 12:48

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May 25, 2026: The average warrant price remained unchanged from the previous trading day, closed at $73/mt (price range $70-76/mt); the average B/L price remained unchanged from the previous trading day, closed at $73/mt (price range $70-76/mt); the average EQ copper (CIF B/L) price remained unchanged from the previous trading day, closed at $43/mt (price range $40-46/mt), with quotes referencing cargoes arriving in mid-to-late May and early June.

Spot copper trading turned sluggish during the day, with offers largely similar to last week. Possibly affected by China's bill market conditions, import demand was weak. It was heard that a small volume of ER copper B/L arriving in early June was offered at $80/mt, QP May; early June EQ B/L was offered at $50-55/mt, and EQ B/L arriving in late May was offered at $50/mt, QP May-June. Within this week, deliverable regular ER copper warrants were quoted at $80-85/mt, with a small volume traded at $75/mt, QP June.

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