B/L offers rose in the middle and late of the month, with significant differences between buyers and sellers [SMM Shanghai spot copper]

        August 4, 2025 News: Today, warrant prices ranged from $44 to $56/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, and the average price remained unchanged from the previous trading day. EQ copper (CIF B/L) prices ranged from $20 to $30/mt, with a QP of August, and the average price remained unchanged from the previous trading day. The offers were based on cargoes arriving in mid-to-early August.

        During the day, buyers in the market actively inquired about goods, but sellers showed strong reluctance to budge on prices, leading to significant differences between buyers and sellers and making it difficult to close deals. It was heard that domestic warrants were offered at $45-55, with no transactions reported for a QP of September. EQ copper arriving in mid-to-late August was heard to be offered at $30-45, with counteroffers at $10-20 for a QP of September. General pyrometallurgy copper arriving in late July was offered at $70-80, with no transactions reported for a QP of September. Overall, there was a clear upward trend in offers, but buyers were not yet accepting them.