Spot transaction volume remained stable, with sluggish market performance [SMM Yangshan Spot Copper]

        News on January 27, 2026: Today, warrant prices were $15-29/mt, QP February, with the average price basically flat compared to the previous trading day; B/L prices were $17-27/mt, QP February, with the average price basically flat compared to the previous trading day; EQ copper (CIF B/L) was -$16/mt to -$6/mt, QP February, with the average price basically flat compared to the previous trading day. Quotations referred to cargoes arriving in mid-to-late January and early February.

     The market performed sluggishly today, with inquiries and offers basically flat compared to yesterday. Warrant offers were heard at $10-20, QP January; transactions were concentrated around $15/mt, with a small volume of cargoes for delivery in early February heard traded at $20/mt, all QP February. A small volume of ER copper B/L for late January arrival was offered at $10-25/mt, QP February; EQ B/L for early February arrival was offered at -$10, while EQ B/L for mid-to-early February arrival was offered at -$20 to $0/mt, with transactions heard at -$15, QP February.