On May 20, 2025: Today, warrant prices ranged from $90 to $98/mt, with QP June, and the average price fell by $1/mt compared to the previous trading day. B/L prices ranged from $102 to $118/mt, with QP June, and the average price fell by $1/mt compared to the previous trading day. EQ copper (CIF B/L) prices ranged from $73 to $85/mt, with QP June, and the average price fell by $1/mt compared to the previous trading day. Quotations were based on cargo arrivals in late May and early June.
Today, spot trading remained sluggish, with sporadic offers and limited transactions. Due to LME's significant destocking over two consecutive days, the market held bearish expectations for spot premiums in late May and early June. It was heard that among traders, offers for domestic pyrometallurgy ER copper B/Ls in late May were around $110, with firm offers at $90-95, QP June; general pyrometallurgy offers were around $110-115, QP June; domestic warrant offers were around $95, QP June; offers for EQ B/Ls arriving in early June were around $80-85, with buyer counteroffers at $60-70, QP June. Overall, the SHFE/LME price ratio was unfavorable, market offers were limited, and some suppliers' selling of spot positions led to a downward trend in premiums.
