Metal Scrap Performance in China
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Metal scraps performances in Foshan market on January 20
2025-1-20
Copper: Today, the spot copper price in Foshan market is falling again, and the uncertainty of the rising US dollar index and the possible tariff imposed by the US president-elect is a drag on the market. At the same time, the price of copper has accumulated a large increase after the shock and rebound in the last two weeks. As the Spring Festival holiday approaches, domestic copper enterprises are on holiday one after another, and the demand for copper market continues to weaken. It is normal for copper prices to fall back due to capital gains and pre-holiday hedging. Analysts said that the new tariffs, immigration and fiscal policies after Trump took office may re-price global financial assets. Also, the cooling inflation in the United States rekindled the market's expectation of the Fed's interest rate cut, and investors were expecting more stimulus measures from China. Copper prices may remain volatile in the short term.
Aluminum: Today, the price of aluminum in Foshan market is slightly adjusted back. At present, SHFE aluminum is still operating above 20,000 yuan. The recent continuous rise in aluminum prices has brought some pressure to the preparation of materials before the year, and most factories and enterprises purchase on demand and wait and see. At present, the aluminum market is intertwined, and the follow-up situation needs to pay close attention to the new trade measures in the United States and whether to implement measures such as interest rate cuts and RRR cuts to stimulate the economy.
Zinc: The Spring Festival holiday is approaching, the market transaction is coming to an end, the market demand is weak, and the market participants are afraid of falling, which affects their enthusiasm for purchasing goods to a certain extent, and the overall market transaction is relatively dull. The geopolitical situation is unpredictable, and the domestic demand for the Spring Festival holiday has slowed down. It is expected that the zinc price will continue to rise after a short adjustment.
Stainless Steel: At the beginning of this week, the nickel and stainless steel futures market fell. At present, the market turnover gradually shrank near the Spring Festival holiday, and scrap traders began to leave one after another. Buyers who have not yet had a holiday sucked goods at low prices, and the trading popularity declined, and the market also fell. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market is slightly adjusted back. At present, SHFE aluminum is still operating above 20,000 yuan. The recent continuous rise in aluminum prices has brought some pressure to the preparation of materials before the year, and most factories and enterprises purchase on demand and wait and see. At present, the aluminum market is intertwined, and the follow-up situation needs to pay close attention to the new trade measures in the United States and whether to implement measures such as interest rate cuts and RRR cuts to stimulate the economy.
Zinc: The Spring Festival holiday is approaching, the market transaction is coming to an end, the market demand is weak, and the market participants are afraid of falling, which affects their enthusiasm for purchasing goods to a certain extent, and the overall market transaction is relatively dull. The geopolitical situation is unpredictable, and the domestic demand for the Spring Festival holiday has slowed down. It is expected that the zinc price will continue to rise after a short adjustment.
Stainless Steel: At the beginning of this week, the nickel and stainless steel futures market fell. At present, the market turnover gradually shrank near the Spring Festival holiday, and scrap traders began to leave one after another. Buyers who have not yet had a holiday sucked goods at low prices, and the trading popularity declined, and the market also fell. (Analyzed by LTIT)
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