Spot trading was extremely sluggish during the day, with a slight recovery in the SHFE/LME price ratio and sporadic high offers [SMM Yangshan spot copper]

        June 9, 2025 News: Today, warrant prices ranged from $37 to $49/mt, with QP in June. The average price increased by $2/mt compared to the previous trading day. B/L prices ranged from $52 to $80/mt, with QP in July. The average price increased by $1/mt compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $10 to $20/mt, with QP in July. The average price increased by $1/mt compared to the previous trading day. Quotations referenced cargoes expected to arrive in mid-to-late June.

        Today, the spot market was extremely sluggish. Spot offers slightly recovered compared to last Friday, but buyers still showed no purchase willingness. Due to the slight recovery in the SHFE/LME price ratio, there was no news of domestic smelters further expanding their export plans, and the market entered a buffer period. It was heard that domestic pyrometallurgy ER copper B/L offers among traders were around $60 in mid-June, with the lowest bid heard at $30. No transactions were heard for QP in July. Domestic warrant offers were around $40-60, with no bids heard and transactions difficult to achieve. EQ B/L offers for cargoes expected to arrive in mid-June were reported at $30-40, with QP in July. Buyers' bids were at $0, and no transactions were heard. Overall, the market was inactive today, with both buyers and sellers waiting for further market developments.