October 30, 2025: Today, warrant prices were $32-40/mt, QP November, with the average price up $1/mt from the previous trading day; B/L prices were $42-62/mt, QP November, with the average price down $1/mt from the previous trading day; ER copper (CIF B/L) was -$20/mt to -$4/mt, QP November, with the average price down $1/mt from the previous trading day. Quotations referred to cargoes arriving in late October and early November.
Market offers were scarce during the day, with limited downstream procurement guiding the price spread between warrants and B/Ls to narrow. Some warrants were heard offered at $32-45, QP November; a small volume traded at $30-40/mt, QP November. Pyrometallurgy B/Ls for late November were offered at $55-60/mt, QP November; ER B/Ls for late October were offered at -$20-(-8), with a small volume traded.
