On June 22, the average warrant price rose $1/mt from the previous trading day to $60/mt (price range: $55-69/mt); the average B/L price increased $1/mt to $63/mt (price range: $56-70/mt); the average price of EQ copper (CIF B/L) was unchanged at $32/mt (price range: $28-36/mt), with prices referencing cargoes arriving in mid-to-late June and early July.
The market was generally sluggish during the day, as the half-year end neared, some enterprises had concentrated cash collection needs, and a few late July B/L offers were quoted high. Deals for early July arrival EQ B/L were heard at around $30/mt, while a few actual deals for late June arrival EQ cargoes were done above $35/mt. A few registered B/L for late June arrival were heard quoted at $70-75/mt.
![After the Dragon Boat Festival, China's copper social inventory shifted from destocking to inventory buildup [SMM weekly data]](https://imgqn.smm.cn/usercenter/Fxolk20251217171712.jpg)
