Market Demand Concentrated on Late-May EQ B/L, Limited Trading in Early Session [SMM Yangshan Spot Copper]

Published: May 8, 2026 12:58

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May 8, 2026: The average warrant premium rose by $1/mt from the previous trading day, closed at $70/mt (price range $64-76/mt); the average B/L premium rose by $1/mt from the previous trading day, closed at $67/mt (price range $63-73/mt); the average EQ copper (CIF B/L) premium rose by $1/mt from the previous trading day, closed at $37/mt (price range $32-42/mt), with quotes referencing cargoes arriving in early to mid-May.

During the day, a small number of registered B/L offers for early May to mid-June arrival were heard, while buyer demand was mainly concentrated on EQ B/L, with few transactions in the early session. A small volume of ER copper B/L arriving in early May was heard closed at $75/mt, QP May; early May arrival EQ B/L was offered at $48/mt, mid-May arrival EQ B/L was offered at $50/mt, QP May-June. Standard ER copper warrants for delivery within this week were offered at $80/mt, with no transactions heard so far, QP June.

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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