The divergence between buyers and sellers has weakened, but intraday trading remains sluggish [SMM Yangshan spot copper]

      June 16, 2025 News: Today, warrant prices ranged from $30 to $48/mt, with QP in June, and the average price increased by $1/mt compared to the previous trading day. B/L prices ranged from $48 to $72/mt, with QP in July, and the average price remained unchanged compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $4 to $18/mt, with QP in July, and the average price remained unchanged compared to the previous trading day. Quotations referenced cargo arriving in late June and early July.

      Today, the US dollar copper market remained sluggish, with sporadic spot offers. Transactions were still supported by a small amount of long-term contract demand. It was heard today that domestic warrant prices were quoted around $40-50/mt with difficult transactions, QP in July. Domestic B/Ls for cargo arriving in early July were quoted at $60/mt, with a small amount of transactions concluded at $45-55/mt, QP in July. EQ for cargo arriving in early July was quoted at $15-20/mt, with a small amount of transactions concluded at $5-10/mt, QP in July. Overall, the intentions of buyers and sellers are gradually converging, and activity is expected to recover after June date.