April 29, 2025 News: Today's warrant prices range from $90 to $98/mt, with QP May, and the average price increased by $1/mt compared to the previous trading day. B/L prices range from $105 to $125/mt, with QP May, and the average price remained unchanged compared to the previous trading day. EQ copper (CIF B/L) prices range from $65 to $75/mt, with QP May, and the average price remained unchanged compared to the previous trading day. Quotations are based on cargoes arriving in early May.
This morning, market inquiries unexpectedly surged. Although the trading center remained unchanged compared to yesterday, trading volume significantly increased, and offers showed an upward trend. It was heard that among traders, general pyrometallurgy offers for late May were at $120-130, with QP May; actual transactions were concluded at $110-120, with QP May. Domestic warrant offers were concluded near $95, with QP May; mid-to-late May EQ warrant offers were at $70-80, with QP May. Overall, both buyers and sellers were active before the holiday. It should be noted that the LME's near-month backwardation structure has widened, and significant domestic destocking will attract the continuous cancellation of LME Asian warrants.
