Few offers can be found in the spot market, with weak willingness to trade among buyers and sellers [SMM Yangshan spot copper]

        On July 23, 2025: Today, warrant prices ranged from $44 to $54/mt, with QP in August, and the average price remained unchanged from the previous trading day. B/L prices ranged from $56 to $76/mt, with QP in August, and the average price remained unchanged from the previous trading day. EQ copper (CIF B/L) prices ranged from $22 to $36/mt, with QP in July, and the average price remained unchanged from the previous trading day. The offers were based on cargoes arriving in late July and early August.

        The spot market was extremely sluggish during the day, with almost no offers for spot cargoes. Domestic warrants were heard to have closed at $45-60, with QP in August. EQ cargoes arriving in mid-to-early August were heard to have closed at $35, with QP in September. General pyrometallurgy cargoes arriving in late July were heard to have closed at $70-80, with no transactions reported, and QP in August. Overall, the willingness to trade among both buyers and sellers significantly weakened.