Rigid demand recovers while supply remains relatively tight; spot premiums for imported copper rise 【SMM Yangshan spot copper】

Published: Sep 14, 2026 14:00

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On September 14, the average warrant price rose $15/mt from the previous trading day to $100/mt (price range: $95-105/mt); the average B/L price rose $15/mt from the previous trading day to $100/mt (price range: $95-105/mt); the average EQ copper (CIF B/L) price rose $5/mt from the previous trading day to $55/mt (price range: $50-60/mt), with quotes referencing cargoes arriving from September to early October.

In early trading, the SHFE/LME price ratio continued to edge higher. After copper prices weakened, downstream rigid demand showed some recovery, while spot supply of registered copper in the market was relatively tight, pushing spot premium trading centers higher. Today, mainstream quotations for registered warrants were heard around $110/mt, October-arrival EQ copper traded at $60/mt, and mainstream quotations for September to early October-arrival EQ copper were around $60-65/mt.

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