LME copper trading halted, but market activity remained high, with trading volume significantly improving WoW [SMM Yangshan spot copper]

        May 26, 2025 News: Today, warrant prices ranged from $88 to $98/mt, with a QP (Quantity Point) in June. The average price increased by $1/mt compared to the previous trading day. B/L prices ranged from $95 to $115/mt, with a QP in June. The average price increased by $1/mt compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $72 to $82/mt, with a QP in June. The average price increased by $2/mt compared to the previous trading day. Quotations were based on cargoes arriving in late May and early June.

        The market warmed up today compared to last week. As the LME-COMEX price spread widened again to $1,000/mt last Friday night, although the LME was closed today, market trading remained active. It was heard that domestic pyrometallurgy ER copper B/L offers from traders were around $95-100 in late May, with a QP in June. Buyers had weak purchase willingness for domestic warrant B/Ls. General pyrometallurgy offers were around $105-110, and it was heard that some general pyrometallurgy transactions were concluded at $108-110, with a QP in June. Domestic warrant offers were around $95, with a QP in June. EQ B/L offers for cargoes arriving in early June were around $80-85, with a QP in June. No buyer counter-offers were heard yet. Overall, market trading was moderate today. After the release of June long-term contracts, the circulation speed of goods among traders increased, but no significant improvement was seen in downstream demand.