Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 13
2025-2-13
Copper: The spot copper price in Foshan market stopped falling and rebounded today, and the trading was cautiously improving. The dollar index fluctuated and fell, which brought price support to copper and other industrial products, improved the demand prospect of the metal market, and the market trading sentiment improved accordingly. At present, traders are generally bullish on the trend of copper prices in the after-market. Although the trading enthusiasm of the spot copper market has not improved significantly after the Spring Festival, the rate of returning to work of downstream enterprises is gradually increasing, and the just-needed purchasing strategy is maintained. The active bargain-hunting behavior also drives the market transaction activity and boosts the spot consumption. The spot discount of electrolytic copper in Guangdong market has been narrowing. Recently, the market rumors that the China real estate market has obtained funds to rescue the market, which is good for the overall metal market, and the copper price may gain further momentum.
Aluminum: Today, the price of aluminum in Foshan market dropped slightly, the short-term trend fluctuated weakly, and the market trading was cautious. Recently, aluminum prices have fallen more due to profit-taking and concerns about the impact of US tariffs on demand, and the weak consumer demand in the lower reaches of the copper market has also limited the room for aluminum prices to rebound. However, the current aluminum ingot inventory remains low, and the demand is expected to improve, which supports the short-term aluminum price.
Zinc: Today, the price of zinc in Foshan market remained strong and fluctuated, and most of the market participants were cautious. The downstream manufacturers had obvious wait-and-see mood, mostly based on inquiry. The manufacturers responded to the slow recovery of orders, and the fear of falling still enveloped the market. Today, the market transaction was dull.
Stainless Steel: Stainless steel futures rallied and successfully held the 13,000 mark. After the 15th day of the first month, the recovery of the spot market accelerated, waste recycling sites started trading one after another, and the circulation of goods increased accordingly. Manufacturers and buyers took advantage of the market rally to purchase. ( Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market dropped slightly, the short-term trend fluctuated weakly, and the market trading was cautious. Recently, aluminum prices have fallen more due to profit-taking and concerns about the impact of US tariffs on demand, and the weak consumer demand in the lower reaches of the copper market has also limited the room for aluminum prices to rebound. However, the current aluminum ingot inventory remains low, and the demand is expected to improve, which supports the short-term aluminum price.
Zinc: Today, the price of zinc in Foshan market remained strong and fluctuated, and most of the market participants were cautious. The downstream manufacturers had obvious wait-and-see mood, mostly based on inquiry. The manufacturers responded to the slow recovery of orders, and the fear of falling still enveloped the market. Today, the market transaction was dull.
Stainless Steel: Stainless steel futures rallied and successfully held the 13,000 mark. After the 15th day of the first month, the recovery of the spot market accelerated, waste recycling sites started trading one after another, and the circulation of goods increased accordingly. Manufacturers and buyers took advantage of the market rally to purchase. ( Analyzed by LTIT)
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