On November 11, the average warrant price was flat from the previous trading day at $230/mt (price range: $210-250/mt); the average B/L price was flat from the previous trading day at 220 yuan/mt (price range: 200-240 yuan/mt); the average EQ copper (CIF B/L) price rose $7/mt from the previous trading day to $125/mt (price range: $120-130/mt), with quotes referencing cargoes arriving from mid-November to December.
As the SHFE copper delivery date approaches, domestic trade premiums continued to pull back today. After concentrated deals last week, the market moved to a wait-and-see stance, and activity was sluggish this week. It was heard that registered copper B/Ls for arrival in mid-to-late December were quoted at $220/mt today, and a small volume of EQ copper for arrival in early December was quoted at $125/mt.
