The market atmosphere is quiet, with an unfavorable SHFE/LME price ratio leading to more wait-and-see attitudes [SMM Yangshan spot copper]

Published: Aug 10, 2026 11:53

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On August 10, the average warrant price was flat from the previous trading day at $101/mt (price range $95-107/mt); the average B/L price was flat at $97/mt (price range $90-104/mt); the average price for EQ copper (CIF B/L) was flat at $65/mt (price range $60-70/mt), with quotations referencing cargoes arriving from August to early September.

Affected by typhoon weather, some market participants in Shanghai and other places worked from home today. Coupled with the weak SHFE/LME price ratio, many stayed on the sidelines, keeping the morning session relatively quiet. It was heard that B/L warrants registered for late August arrival were offered at $100/mt and EQ copper for late August arrival at $70/mt.

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