On August 21, 2025: Warrant prices were $45-57/mt, QP August, with the average price unchanged from the previous trading day; B/L prices were $50-68/mt, QP September, also unchanged on average. EQ copper (CIF B/L) was priced at $24-34/mt, QP September, with the average price remaining stable, referencing cargoes arriving in late August and mid to early September.
The spot market remained as active as the previous day. It was heard that ER copper warrants closed at $50-60, and SX-EW warrants at $45-55, QP September, with transactions taking place within these ranges. B/Ls for Japan and South Korea, arriving in mid to late August, were reported at $60-68, with actual deals done at $60-65, QP September. For early September arrivals, ER copper B/Ls were quoted at $65-75, QP September-October. EQ B/Ls for early September were offered at $30-35, with some deals concluded at $28-34, QP September-October. Overall, downstream buyers were actively inquiring, and suppliers showed reluctance to budge on prices.
