March 11, 2025 News: Today's warehouse warrant price was $45-55/mt, QP March, with the average price unchanged from the previous trading day; B/L price was $70-90/mt, QP April, with the average price up by $1/mt from the previous trading day. EQ copper (CIF B/L) was $10-20/mt, QP March, with the average price unchanged from the previous trading day. The quotations referred to cargoes arriving in mid-to-late March and early April.
During the day, the SHFE/LME price ratio for the SHFE 2503 copper contract was around -900 yuan/mt. LME 3M-Mar copper was $14.37/mt, LME 3M-Apr copper was B$0.33/mt, and the March date to April date spread was around C$14.7/mt. The US dollar-denominated copper market remained sluggish during the day, with limited spot order activity and an overall weak trading atmosphere.
Currently, the actual transaction price for pyro high-quality copper warehouse warrants is $55/mt, mainstream pyro copper is $50/mt, and wet-process copper is $45/mt. High-quality copper B/L is $90/mt, mainstream pyro copper is around $80/mt, and wet-process copper is $70/mt. CIF B/L EQ copper is $10-20/mt, with an average price of $15/mt.
