A large number of offers emerged in the morning session, but overall trading was poor [SMM Shanghai spot copper]

        August 8, 2025 News: Today, warrant prices ranged from $40 to $52/mt, with QP in August, and the average price remained unchanged from the previous trading day. B/L prices ranged from $50 to $64/mt, with QP in September, and the average price remained unchanged from the previous trading day. EQ copper (CIF B/L) prices ranged from $18 to $30/mt, with QP in September, and the average price remained unchanged from the previous trading day. The offers were based on cargoes arriving in mid-to-late August.

        During the day, suppliers' sentiment to sell remained evident, with a large number of offers concentrated on mid-to-late August pyrometallurgy registered B/Ls and EQ B/Ls in the morning session, but the offers were high, and buyers' purchase willingness was weak. It was heard that pyrometallurgy warrants were offered at $40-50, with QP in September; B/Ls arriving in Japan and South Korea in mid-to-late August and early September were heard to be offered at $70-80, with no firm transactions reported, and QP in September; EQ arriving in late August and early September was heard to be offered at $28-32, with a small amount of transactions reported at $30, and QP in September. Overall, suppliers were still selling off a large amount of inventory, and Yangshan copper premiums continued to operate at a low level.