The spot market recovered briefly, but it was still difficult to find offers for B/L [SMM Yangshan spot copper]

        July 30, 2025 News: Today, warrant prices ranged from $44 to $54/mt, with a QP of August. The average price fell by $1/mt compared to the previous trading day. B/L prices ranged from $54 to $66/mt, with a QP of August. The average price also fell by $1/mt compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $20 to $30/mt, with a QP of August. The average price remained unchanged compared to the previous trading day. Quotations were based on cargo arrivals in mid-to-early August.

        The market recovered during the day. After the premium declined, the buyer's purchase willingness increased slightly. However, B/L offers were still hard to find, and the buyers were downstream processing enterprises. It was heard that domestic warrants were quoted at $50-60, with no transactions heard for a QP of August. EQ cargo arrivals in mid-to-early August were heard to be quoted at $20-30, with counteroffers at $10-20 for a QP of August. General pyrometallurgy cargo arrivals in late July were quoted at $60-68, with no transactions heard for a QP of August. Overall, both supply and demand in the market were weak, with no significant fluctuations observed.