Market Transactions Recovered and Inquiries and Offers Were Active, Concerns Emerged Over the Stability of Forward Supply [SMM Yangshan Spot Copper]

        March 13, 2026: Today, the average warrant price rose by $1/mt from the previous trading day; the average B/L price rose by $1/mt from the previous trading day, and the average EQ copper (CIF B/L) price rose by $1/mt from the previous trading day, with quotations referring to cargoes expected to arrive from mid-to-late March to early April.

    Intraday market transactions recovered, and inquiries and offers for B/Ls arriving in late March and from early to mid-April were active. It was heard that a small volume of ER copper B/Ls arriving in late March closed at $55-60/mt, quotation period (QP) April; EQ B/L offers for late March and early April were quoted at $25-30/mt, while EQ B/Ls arriving from mid-to-late April were quoted at $35/mt, quotation period (QP) May. Pyrometallurgy and two-brand B/Ls for delivery within the week were quoted at $60-65/mt, quotation period (QP) April.