December 3, 2025: Today, warrant prices were $30-46/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; EQ copper (CIF B/L) was -$6/mt to $12/mt, QP December, with the average price flat from the previous trading day. Quotations referred to cargoes arriving in early to mid-December.
During the day, buyer purchases were still concentrated on warrants. Additionally, a small volume of CME-registered brands were heard traded at a premium around $90-115/mt. Some warrants were heard closed at $40-50, QP December; trades were concentrated at $33-40/mt, QP December. Early December pyrometallurgy B/Ls were heard offered at $60-65/mt, with a small volume traded at $55/mt, QP December; early December EQ B/L offers were heard at $0-10, and morning session heard December-arrival EQ trades at (-$4)-$8, QP December.
