Market traders offered almost no quotes, with a small number of transactions guiding premiums downward [SMM Shanghai Spot Copper]

        September 12, 2025: Today, warrant prices were $51-61/mt, QP September, with the average price down $1/mt from the previous trading day; B/L prices were $54-64/mt, QP October, with the average price down $1/mt from the previous trading day. EQ copper (CIF B/L) was $24-30/mt, QP October, with the average price down $1/mt from the previous trading day. Quotations referred to shipments arriving in late September and early October.

        Copper prices remained high during the day, with traders barely offering. ER copper warrants were heard closed at $55-60, QP October; B/Ls for shipments arriving in mid-September in Japan and South Korea were heard offered at $60-68, QP October, while two-row B/Ls for late September arrivals were offered at $65-70, QP October. EQ B/Ls for late September were offered at $40, with limited actual transactions concluded at $25-30, QP October.