Holders of spot copper sold off a large amount of cargo, with robust trading volume during the day. Yangshan copper premiums were under pressure [SMM Shanghai spot copper]

        August 5, 2025 News: Today, warrant prices ranged from $40 to $52 per mt, with a QP of August. The average price fell by $4 per mt compared to the previous trading day. B/L prices ranged from $50 to $62 per mt, with a QP of September. The average price fell by $8 per mt compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $16 to $28 per mt, with a QP of September. The average price fell by $5 per mt compared to the previous trading day. Quotations were based on cargoes arriving in mid-to-late August.

        During the day, sellers in the market dumped a large amount of goods. Ocean B/Ls were gradually released due to the long holding period of funds, resulting in brisk market transactions. It was heard that ER copper warrants were closed at $40-50, with a small amount of transactions closed at $40, QP September. Cargoes of CCC-P arriving in mid-to-late August and early September were heard to be quoted at $50-60, with a large number of firm transactions closed at $50-60, QP September. General pyrometallurgy cargoes arriving in late August were quoted at $60-70, with no transactions heard, QP September. Overall, the concentrated selling of South American cargoes sparked a brisk market, while LME continued to see a large amount of transfer to delivery warehouse recently, with the SHFE/LME price ratio showing a trend of recovery.