The intraday performance of the USD copper market was sluggish, with the price spread of registered copper narrowing [SMM Yangshan spot copper]

On May 15, 2025: Today, warrant prices ranged from $95 to $105/mt, with QP June, and the average price remained unchanged from the previous trading day. B/L prices ranged from $108 to $122/mt, with QP June, and the average price remained unchanged from the previous trading day. EQ copper (CIF B/L) prices ranged from $76 to $88/mt, with QP June, and the average price remained unchanged from the previous trading day. The quotations were based on cargoes expected to arrive in mid-to-late May.

Today's market performance was similar to yesterday's, with the center of registered copper offers continuing to decline. The overall trading atmosphere was not active, and buyer counteroffers were low. It was heard that among traders, domestic pyrometallurgy B/L offers for late May were at $110, with QP June; general pyrometallurgy offers were around $115-120, with QP June; domestic warrant offers were around $100-105, with QP June; and EQ B/L offers for cargoes expected to arrive in early June were at $90-95, with QP June. Overall, the market appeared sluggish in the short term.