The U.S. dollar copper market remains sluggish, with offers gradually shifting to later months [SMM Yangshan spot copper]

          June 20, 2025 News: Today, warrant prices ranged from $32 to $48/mt, with QP July, and the average price remained unchanged from the previous trading day. B/L prices ranged from $50 to $72/mt, with QP July, and the average price remained unchanged from the previous trading day. EQ copper (CIF B/L) prices ranged from $4 to $18/mt, with QP July, and the average price remained unchanged from the previous trading day. Quotations were based on cargoes arriving in late June and early July.
         The market remained sluggish today. The price spread between LME_CA_CASH and July date futures contracts continued to widen. Most suppliers had already cleared their inventory and shifted their positions, resulting in almost no transactions in the spot market. Sporadic reports indicated that domestic warrants were closed at $45-50, with QP July. B/Ls for domestic cargoes arriving in early July were quoted at $60, with QP July. EQ cargoes arriving in late June were quoted at $5-10, with transactions closing near $-5-0, with QP July. EQ cargoes arriving in early July were quoted at $10-20, with no transactions reported, with QP July. Overall, the market continued the sluggish trend from last week this week, with most market participants remaining in a wait-and-see stance.