LME copper trading halted, market transactions temporarily slowed down, suppliers showed strong wait-and-see sentiment [SMM Yangshan spot copper].

        April 18, 2025: Today, warrant prices closed at $82-90/mt, QP May, with the average price unchanged from the previous trading day. B/L prices closed at $98-108/mt, QP May, with the average price unchanged from the previous trading day. EQ copper (CIF B/L) closed at $55-65/mt, QP May, with the average price unchanged from the previous trading day, referencing shipments arriving in mid to late April.

        LME copper was suspended today, making it difficult to hear of any transactions due to the inability to price. A small number of warrant B/Ls were still quoted, with no significant fluctuations in the price center. It was heard that pyrometallurgy B/Ls for late April were quoted at $100-105, and CCC-P, ENM, and ILO for early May were quoted at $115-120, QP May. Domestic warrants were quoted around $95/5QP. EQ B/Ls for mid to late May were quoted at $60-70/5QP, but transactions were hard to find. Overall, EQ remained firm, but market trading volume significantly decreased. Due to a substantial increase in domestic trade premiums, the SHFE/LME price ratio has room for support, and Yangshan copper premiums are expected to continue rising next week.