Commodities
Market Activity Quiet on September 30 Ahead of Holiday
The Shanghai Metals Market reported that on September 30, market activity was quiet due to the approaching holiday. The average warrant price for SMM Yangshan Spot Copper remained flat from the previous trading day at $119/mt, with a price range of $110-128/mt.
The average B/L price also remained unchanged at 114 yuan/mt (price range: 104-124 yuan/mt), while the average EQ copper (CIF B/L) price stayed flat at $53/mt (price range: $46-60/mt). The prices referenced cargoes arriving from late September to October.
Suppliers were in a wait-and-see stance, and some market traders had already entered holiday mode. This led to no clear opportunities in the SHFE/LME price ratio.