On May 8, 2025: Today, warrant prices ranged from $98 to $106/mt, with QP in May, and the average price increased by $2/mt compared to the previous trading day. B/L prices ranged from $106 to $126/mt, with QP in May, and the average price increased by $1/mt compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $72 to $80/mt, with QP in May, and the average price increased by $3/mt compared to the previous trading day. The quoted prices referenced cargoes scheduled to arrive in mid-to-late May.
Today, the market continued the trend from yesterday, but with limited arrivals in the short term, small-scale inquiries and offers were active, and sporadic transactions of late-May B/Ls were heard. It was heard that among traders, offers for domestic pyrometallurgy B/Ls in late May were at $110, with QP in May; general pyrometallurgy offers were at $120-130, with QP from May to June; domestic warrant offers were around $110, with QP in May; EQ B/L transactions were heard to be concentrated at $75-80, with QP in June, and EQ offers for the day were at $85-95, with QP in June, continuing to narrow the price spread with registered warrants. Currently, affected by the shortage of long-term contract delivery volumes, there is a strong reluctance to sell EQ cargoes, and due to the recovery of the SHFE/LME price ratio, the price spread with general pyrometallurgy warrants has significantly narrowed in the short term. Market suppliers are actively seeking cargoes but with limited offers, leading to rising premiums.
