Trading volume increased significantly compared to yesterday, with buyers actively seeking cargo, pushing premiums higher. [SMM spot copper at Yangshan]

        On May 7, 2025: Today, warrant prices ranged from $96 to $104/mt, with QP in May, and the average price remained unchanged from the previous trading day. B/L prices ranged from $105 to $125/mt, with QP in May, and the average price also remained unchanged from the previous trading day. EQ copper (CIF B/L) prices ranged from $68 to $78/mt, with QP in May, and the average price increased by $3/mt from the previous trading day. Quotations were based on cargoes arriving in mid-to-early May.

        Today, the trading volume in the market increased significantly, with both buyers and sellers showing active participation. It was heard that among traders, offers for domestic pyrometallurgy ER copper B/Ls for late May were at $110, with QP in May; general pyrometallurgy offers were at $120-130, with QP from May to June; offers for domestic warrants were around $110, with QP in May; South American B/Ls were traded around $200 in mid-to-early May, with QP in June; EQ B/Ls were heard to be traded mainly in the range of $70-75, with QP from May to June, and a small volume was traded at $80, with QP in May; intraday EQ offers were in the range of $80-85, with QP in May, and the price spread with registered warrants continued to narrow. Overall, EQ supplies remain tight, and it is expected that the center of trading will continue to rise in the future market.