Spot demand is limited with only a few offers, and market activity remains low. [SMM Yangshan Spot Copper]

Published: Feb 11, 2026 09:46

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February 9, 2026: Today, warrant prices were $30-46/mt, QP February, with the average price up $1/mt from the previous trading day; B/L prices were $36-52/mt, QP March, with the average price flat from the previous trading day; ER copper (CIF B/L) were $14-26/mt, QP March, with the average price up $2/mt from the previous trading day, with the quotation referring to cargoes arriving in mid-February.

Market activity was low during the day, with almost no demand from downstream. It was heard that warrants closed at $40-50, with QP covering both February and March; cargoes for delivery in late February were heard traded at $35-40/mt, QP March. A small amount of pyrometallurgy B/L for late February arrival were offered at $50-60/mt, QP March; ER B/L for late February were offered at $15-25, while ER B/L for arrival in early to mid-February were offered at $10-20/mt, QP March.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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