Spot copper supply in the market is limited, and suppliers are holding offers firm [SMM Yangshan spot copper]

Published: Jul 1, 2026 11:57

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On July 1, the average warrant price rose $3/mt from the previous trading day to $71/mt ($67-75/mt); the average B/L price rose $1/mt to $70/mt ($65-75/mt); the average price of EQ copper (CIF B/L) rose $2/mt to $43/mt ($39-47/mt), with quotes referring to cargoes arriving from early to mid-July.

Downstream inquiry activity was moderate, while suppliers had limited cargoes on hand, offers were relatively firm, and divergences existed between buyers and sellers, leading to relatively few transactions.

It was heard that a small number of deals for EQ B/L cargoes arriving from July to August were done at $45-50/mt, while August registered warrants were quoted at $72-80/mt.

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