Registered Copper Warehouse B/L Maintained High Prices, EQ B/L Premiums Declined [SMM Yangshan Spot Copper]

Published: May 18, 2026 09:33

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May 15, 2026: The average warrant price remained flat compared to the previous trading day, closing at $72/mt (price range $68-76/mt); the average B/L price remained flat compared to the previous trading day, closing at $71/mt (price range $67-75/mt); the average EQ copper (CIF B/L) price fell $3/mt compared to the previous trading day, closing at $40/mt (price range $36-44/mt), with quotes referencing cargoes arriving in mid-to-late May and early June.

Intraday market transactions were scattered, with a small volume of registered copper offers remaining at high levels. Demand for EQ B/L was limited, and overall trading volume was thin. It was heard that a small volume of ER copper B/L arriving in early May was offered at $80/mt, QP May; early June EQ B/L was offered at $55/mt; EQ B/L arriving in mid-May was offered at $50/mt, QP May-June. Within this week, deliverable standard ER copper warrants were offered at $80-85/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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