Market Activity Heats Up, Suppliers Hold Firm Offers [SMM Yangshan Spot Copper]

Published: Oct 15, 2026 13:08 (GMT+8)

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On October 15, the average warrant price was flat from the previous trading day at $136/mt (price range: $122-150/mt); the average B/L price was flat from the previous trading day at 129 yuan/mt (price range: 120-138 yuan/mt); the average EQ copper (CIF B/L) price rose $4/mt from the previous trading day to $64/mt (price range: $60-68/mt), with quotes based on cargoes arriving from October to early November.

Recently, the SHFE/LME price ratio has rebounded, and copper prices pulled back today, boosting market activity. During the day, SHFE copper underwent contract rollover for delivery, and suppliers expected stronger premiums and held offers firm. Deals for registered ER copper B/L were heard at around $120-130/mt today, with a small number of registered ER copper warrants quoted at around $150-170/mt, and mainstream quotations for EQ copper arriving from late October to early November at around $70-75/mt.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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