Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 14
2025-2-14
Copper: The spot copper price in Foshan market rose further 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, the traders are generally bullish on the trend of copper prices in the after-market. However, the President of the United States announced the signing of a reciprocal tariff order to crack down on acts such as imposing tariffs and unfair taxes on American products. This policy may have a far-reaching impact on the international trade environment and thus put pressure on copper prices. In addition, the spot inventory of electrolytic copper is still accumulating, which is still the off-season of traditional demand, and the downstream needs to purchase on demand, so there is limited room for the overall market demand to rebound. However, as the downstream may resume work one after another, it has support for copper prices.
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the short-term trend continued to fluctuate in the range. In the short term, macro concerns still exist, and the trend of aluminum prices is still trapped in macro pricing. At the same time, after the holiday, the market consumption recovered slowly, and the aluminum price continued to fluctuate under the interweaving of long and short. However, the accumulation rate of inventory is slower than in previous years, and the development trend of new energy forces is good, so the consumption prospect of aluminum market can be expected.
Zinc: Today, the price of zinc in Foshan market fluctuates strongly, the market supply is abundant, traders are relatively cautious in purchasing goods, and the materials manufacturers do not change their wait-and-see mentality to digest their stocks first, and their willingness to purchase is still not strong, so the market transactions are average. After the holiday, the operating rate will increase, the demand will increase, the market sentiment will gather, and the warming mood will drive the increase in buying. It is expected that the zinc price will fluctuate upwards in the after-market.
Stainless Steel: Stainless steel futures fell slightly, which did not hinder the recovery of spot market transactions. With the downstream resumption of production, the volume of steel strips also picked up, and the trading atmosphere in the waste industry warmed up. Manufacturers generally actively received goods at the same price, and the circulation of goods gradually increased. The after-market focuses on the procurement trends of steel mills. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the short-term trend continued to fluctuate in the range. In the short term, macro concerns still exist, and the trend of aluminum prices is still trapped in macro pricing. At the same time, after the holiday, the market consumption recovered slowly, and the aluminum price continued to fluctuate under the interweaving of long and short. However, the accumulation rate of inventory is slower than in previous years, and the development trend of new energy forces is good, so the consumption prospect of aluminum market can be expected.
Zinc: Today, the price of zinc in Foshan market fluctuates strongly, the market supply is abundant, traders are relatively cautious in purchasing goods, and the materials manufacturers do not change their wait-and-see mentality to digest their stocks first, and their willingness to purchase is still not strong, so the market transactions are average. After the holiday, the operating rate will increase, the demand will increase, the market sentiment will gather, and the warming mood will drive the increase in buying. It is expected that the zinc price will fluctuate upwards in the after-market.
Stainless Steel: Stainless steel futures fell slightly, which did not hinder the recovery of spot market transactions. With the downstream resumption of production, the volume of steel strips also picked up, and the trading atmosphere in the waste industry warmed up. Manufacturers generally actively received goods at the same price, and the circulation of goods gradually increased. The after-market focuses on the procurement trends of steel mills. (Analyzed by LTIT)
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