November 20, 2025: Warrant prices today were $27-39/mt, QP December, with the average price flat from the previous trading day; B/L prices were $42-54/mt, QP December, with the average price flat from the previous trading day; ER copper (CIF B/L) was $0-10/mt, QP December, with the average price flat from the previous trading day. Quotations referred to cargoes arriving in mid-to-late November and early December.
During the day, buyers actively sought bonded warrants, but market offers were scarce and transactions were hard to conclude. Some warrants were heard closed at $30-40, QP December; a small volume traded at $28-33/mt, QP December. Pyrometallurgy B/L for late November was offered at $50-65/mt, QP December; a small volume of arrived B/L was heard traded at $40-55/mt. ER B/L for late November and early December was offered at $5-13; during the morning session, December-arrival ER $5-10 was heard traded, QP December.
