The intraday market remains sluggish, with a significant gap in premiums between buyers and sellers [SMM Yangshan spot copper]

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

        Today, the spot market remained sluggish, with sporadic spot offers. Overall premiums were basically flat compared to last Friday, and buyer counteroffers for purchases remained low. Yesterday, LME destocked another 10,000 mt, with outflows concentrated in Rotterdam. The backwardation structure of LME copper widened in response, attracting some suppliers to sell at low prices. However, offers for B/Ls for cargoes arriving in June remained scarce, and sentiment for spot trades remained poor. Domestic warrants were quoted around $40-55, with counteroffers at $25 and no transactions concluded, QP July. B/Ls for re-exports arriving in late June were traded at $120-130, QP July. EQ cargoes arriving in early July were quoted at $20-50, with counteroffers near $0 and no transactions reported, QP July. Overall, tentative inquiries and offers increased, but the gap between buying and selling premiums remained wide.