Both buyers and sellers were active, and the expected tight supply pushed premiums higher [[SMM] Yangshan spot copper]

        April 28, 2025 News: Today's warrant prices range from $88 to $98/mt, with QP May, and the average price increased by $3/mt compared to the previous trading day. B/L prices range from $105 to $125/mt, with QP May, and the average price increased by $5/mt compared to the previous trading day. EQ copper (CIF B/L) prices range from $65 to $75/mt, with QP May, and the average price increased by $5/mt compared to the previous trading day. Quotations are based on cargo arrivals in early May.

        This morning, the market continued the trading atmosphere from last Friday, with both buyers and sellers actively making offers. Due to the continued suspension of production at the Altonorte smelter in Chile, the expected arrivals of copper cathode from South America in May-June are expected to decline. Meanwhile, the departure of copper cathode from the DRC is hindered, and the expected CIF arrivals in May remain tight, prompting large traders in the market to accelerate their purchases, driving up premiums. It is heard that pyrometallurgical CCC-P, ENM and ILO B/L transactions among traders were concluded at $200 in late May, with QP June. General pyrometallurgical offers for cargo arrivals in early May were at $110-125, with QP May. Domestic warrant offers were concluded at around $95, with QP May. EQ warrant offers in mid-to-late May were at $70-80, with QP May. Overall, both offers and transactions are active, and although the SHFE/LME price ratio is underperforming, premiums remain firm.