Market sentiment was sluggish during the day, with scattered offers making it difficult to secure transactions. [SMM Yangshan Spot Copper]

        News on February 4, 2026: Today, warrant prices were $26-46/mt, QP February, with the average price flat from the previous trading day; B/L prices were $34-52/mt, QP March, with the average price flat from the previous trading day; EQ copper (CIF B/L) was $8-20/mt, QP March, with the average price flat from the previous trading day. Quotations referred to cargoes arriving in mid-February.

   Market trading sentiment remained sluggish during the day, with a small number of offers maintaining previous highs. Warrant offers were heard at $40-50, with QP covering February to March; transactions were concentrated around $30-40/mt. Cargoes for delivery in late February were heard traded at $35-40/mt, QP March. A small number of pyrometallurgy B/L offers for late February arrival were heard at $50-60/mt, QP March; EQ B/L offers for late February were heard at $15-25, while EQ B/L offers for early to mid-February arrival were at $10-20/mt, with transactions heard at $25, QP March.