January 7, 2026: Today, warrant prices were $34-44/mt, QP January, with the average price flat from the previous trading day; B/L prices were $38-50/mt, QP February, with the average price flat from the previous trading day; EQ copper (CIF B/L) was -$4/mt to $12/mt, QP February, with the average price flat from the previous trading day. Quotations referred to cargoes arriving in mid-to-late January.
Intraday, the spot market experienced significant volatility, with traded premiums for buying interest influenced by arrival times, resulting in a wide price range. Specifically, premiums were higher for cargoes with B/L for arrival in late January and early February. Warrants were heard closed at $30-40, QP January; trades were concentrated around $20-25/mt, QP January. A small volume of pyrometallurgy B/L for arrival in early January was heard closed at $40-50/mt, QP January; EQ B/L offers for early January were heard at $0, and early session trades for January-arrival EQ B/L were heard at -$10 to $0, QP January; EQ B/L for late January arrival was offered at $10-20/mt, with trades heard at $15, QP February.
