October 31, 2025: Today, warrant prices were $32-42/mt, QP November, with the average price flat from the previous trading day; B/L prices were $42-62/mt, QP November, with the average price flat from the previous trading day; ER copper (CIF B/L) was -$20/mt to -$4/mt, QP November, with the average price flat from the previous trading day. Quotations referred to cargoes arriving in port in early to mid-November.
Due to geopolitical reasons, Dar es Salaam port is now officially closed, with no staff on site, and all cargo operations in and out of the port have been suspended. Current shipments are expected to face delays. African B/Ls originally scheduled to arrive in mid to late November are expected to be delayed by 1-2 weeks. In the morning session, some warrants were heard quoted at $32-45, QP November; a small volume traded at $30-40/mt, QP November. Pyrometallurgy B/Ls for late November were quoted at $55-60/mt, QP November; ER B/L offers for early November were quoted at -$20-0, with a small volume traded.
