Offers Remained Plentiful but Transactions Were Sporadic, and the Intraday Price Center Stabilized [SMM Spot Yangshan Copper]

Published: Mar 10, 2026 12:31

Save

March 10, 2026: Today, the average price of warrants was unchanged from the previous trading day; the average price of B/L was unchanged from the previous trading day, while the average price of EQ copper (CIF B/L) rose by $2/mt from the previous trading day, with quotes referring to cargoes expected to arrive from mid-to-late March to early April.

There were still relatively many offers in the market intraday, but transactions declined from yesterday. It was heard that a small volume of ER copper B/L arriving in late March was closed at $55-60/mt, quotation period (QP) April; EQ B/L arriving in late March and early April was offered at $25-30/mt, and EQ B/L arriving in mid-to-late April was offered at $35/mt, quotation period (QP) May. ER copper and two-brand B/L for delivery within this week were offered at $60-65/mt, quotation period (QP) April.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

50 mins ago

Geopolitical Risk Optimism Grew, the Most-Traded BC Copper Contract Closed Up 0.78% [SMM BC Copper Review]

50 mins ago

1 hour ago

Rigid demand dominates consumption; copper social inventory continues destocking for five consecutive weeks [SMM Weekly Data]

1 hour ago

High Copper Prices Suppress Consumption Expectations, Shanghai Spot Copper Premiums Under Pressure After Contract Rollover [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, from the perspective of supplier behavior, wait-and-see sentiment was strong in the early session, with notable divergence in offers; subsequently, some suppliers chose to offload inventory, mainly considering that downstream consumption expectations weakened after sustained copper price increases, upside room for spot premiums was limited, and willingness to liquidate holdings strengthened, driving the overall premiums center downward. Supply side, attention should be paid to the outflow of unmatched warrants after the contract rollover; if warrants are released in a concentrated manner, this will further suppress spot premiums. Inventory side, SMM recorded social inventory of 282,800 mt, down 17,000 mt from Monday, with the destocking pace showing a slowdown compared to the earlier period. Overall, under the combined effects of strengthened willingness to sell among suppliers and weakened consumption expectations, coupled with warrant outflows, spot prices against the 2605 contract are expected to see a slight decline in premiums tomorrow.

1 hour ago