Spot Offers Narrowed Significantly, Low-Price Deals Hard to Find [SMM Yangshan Spot Copper]

Published: May 22, 2026 17:44

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May 25, 2026: The average warrant price rose by $1/mt from the previous trading day, closed at $73/mt (price range $70-76/mt); the average B/L price rose by $1/mt from the previous trading day, closed at $73/mt (price range $70-76/mt); the average EQ copper (CIF B/L) price rose by $2/mt from the previous trading day, closed at $43/mt (price range $40-46/mt), with quotations referencing cargoes arriving in mid-to-late May and early June.

Intraday spot bid-offer price spreads narrowed significantly. A small volume of ER copper B/L arriving in early June was heard offered at $80/mt, QP May; early June EQ B/L was offered at $50-55/mt, and late May arriving EQ B/L was offered at $50/mt, QP May-June. Within this week, deliverable general ER copper warrants were offered at $80-85/mt, with a small volume traded at $75/mt, QP June.

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