December 18, 2025: Today's warrant prices were $38-50/mt, QP December, with the average price flat compared to the previous trading day; B/L prices were $45-55/mt, QP January, with the average price flat compared to the previous trading day, and EQ copper (CIF B/L) were $8-16/mt, QP January, with the average price flat compared to the previous trading day. Quotations refer to cargoes arriving in late December and early January.
Spot market trading sentiment was weak during the day, with both buyers and sellers inactive. Weekly bonded zone inventory saw a slight buildup, and according to SMM, smelters still have some export demand during December-January. Some warrants were heard offered at $45-60, QP December; transactions were concentrated at $40-50/mt, QP December. A small amount of pyrometallurgy B/L for arrival in early December were offered at $40-60/mt, with a small amount traded at $50/mt, QP January; EQ B/L for arrival in late December and early January were offered at $10-20, and it was heard that EQ cargoes for December arrival traded at $10-15 in the morning session, QP January; EQ B/L for late January arrival were offered at $20-30/mt with no transactions heard, QP February.
