COMEX-LME Price Spread Slightly Widened, Small Volume of COMEX Registered Offers Heard with No Deals Concluded [SMM Yangshan Spot Copper]

Published: May 29, 2026 12:58

Save

On May 29, the average warrant price remained unchanged from the previous trading day at $70/mt (price range $66-74/mt); the average B/L price remained unchanged from the previous trading day at $71/mt (price range $68-74/mt); the average EQ copper (CIF B/L) price remained unchanged from the previous trading day at $41/mt (price range $38-46/mt), with quotes referencing cargoes arriving in late May and early June.

Intraday COMEX-LME price spread widened. Some COMEX-registered B/L offers were seen at $120/mt. Bonded zone warrants were heard traded at around $70/mt. Other brand-registered B/L offers were scarce. Some EQ cargoes arriving in late June were offered at $40-45/mt, QP July, but no deals were heard due to the weak SHFE/LME price ratio.

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

5 hours ago

Operating Rates of Copper Anode Producers Using Scrap Saw No Increase This Week

[SMM Copper Anode Market] Although the center of copper prices shifted higher, tax-inclusive copper scrap in the current market remained relatively tight, and operating rates of copper anode producers using scrap saw no increase. From May 29 to June 4, the SMM weekly operating rate of China's copper anode producers using scrap fell 0.62 percentage points WoW to 52.52%, and is expected to decline 0.63 percentage points WoW to 51.89% next week.

5 hours ago

BC Copper Retreated After Rapid Rise with Sharp Decline, Geopolitical and Data Under Pressure Narrowing Inversion [SMM BC Copper Commentary]

5 hours ago

7 hours ago

Kamoa-Kakula Advances Power Infrastructure to Support Future Growth

Ivanhoe Mines said construction of Kamoa-Kakula’s on-site solar and battery storage facilities remains on schedule, with 60 MW of baseload power expected to be delivered from early Q3 2026. The company also plans to expand on-site solar generation and storage capacity to 120 MW by the end of 2027. In addition, Kamoa-Kakula has secured key operating consumables, including diesel inventory, to mitigate potential supply chain disruptions. Market participants believe the enhanced power infrastructure will strengthen operational reliability and support future production growth.

7 hours ago