The buyer counter-offered to drive down prices, and the intraday premiums continued to decline [SMM Yangshan spot copper]

        July 29, 2025 News: Today, warrant prices ranged from $45 to $55/mt, with a QP (quality premium) in August. The average price remained unchanged from the previous trading day. B/L (Bill of Lading) prices ranged from $54 to $68/mt, with a QP in August. The average price fell by $4/mt compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $20 to $30/mt, with a QP in August. The average price fell by $2/mt compared to the previous trading day. The offers were based on cargoes arriving in mid-to-early August.

        The market was relatively more active today compared to yesterday, but buyer counteroffers were low, driving down prices, and market transactions remained poor. Sellers continued to hold onto their cargoes and observe the market. It was heard that domestic warrants were offered at $50-60, with no transactions heard for a QP in August. EQ copper arriving in mid-to-early August was heard to be offered at $20-30, with counteroffers at $10-20 and a QP in August. General pyrometallurgy copper arriving in late July was offered at $60-68, with no transactions heard for a QP in August. Overall, both supply and demand in the market were weak, with no significant fluctuations observed.