Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 17
2025-2-17
Copper: Today, the spot copper price in Foshan market has fallen in an all-round way, the short-term trend is more repeated, and the market trading sentiment continues to be cautious. The weak retail data in the United States offset the price support brought by the decline of the US dollar index, while the social stocks of electrolytic copper at home and abroad are accumulating, indicating that the current market demand prospect is still unclear. Under the attack of multiple pressures, copper prices surged back, and the market continued to pay attention to when the inflection point of inventory reduction appeared. The Lantern Festival has passed, copper enterprises in China market have fully resumed work, and the market demand is expected to improve. At present, although refined copper has declined, it is still close to 800 US dollars away from LME copper. Combined with the comprehensive benefits such as the softening of the US dollar index and the strength of gold, the fundamental performance of copper is strong. It is expected that LME copper will still oscillate strongly around 9500 US dollars.
Aluminum: Today, the price of aluminum in Foshan market fell slightly, and the short-term trend continued to fluctuate in the range. However, the market still has optimistic expectations for the post-holiday construction and the two sessions, and the price of aluminum may continue to be strong. It is worth noting that the price of alumina has continued to weaken, and the decline in costs has limited the increase in aluminum prices to some extent. Overall, the current aluminum enterprises have made rapid progress in resuming production and the demand has continued to improve.
Zinc: Today, the price of zinc in Foshan market has dropped, which has further aggravated the wait-and-see atmosphere in the market. Traders are more cautious in receiving goods during this period, and basically maintain low inventory operations. Most of them only make inquiries after receiving orders, and the market transactions are weak. Market operating rate and demand increase, and market sentiment continues to converge. It is expected that zinc prices will continue to rise after negative digestion.
Stainless Steel: Stainless steel futures continue to run weakly. In the spot market, due to the slow progress of demand-side resumption of work, the pressure of oversupply is obvious, and the delivery of steel strips is blocked. At the same time, it also limits the recovery of scrap trading. Manufacturers keep receiving goods at a stable price, and the holders are reluctant to sell, so buyers and sellers are in a stalemate and wait-and-see state. The after-market focuses on the performance of demand recovery. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market fell slightly, and the short-term trend continued to fluctuate in the range. However, the market still has optimistic expectations for the post-holiday construction and the two sessions, and the price of aluminum may continue to be strong. It is worth noting that the price of alumina has continued to weaken, and the decline in costs has limited the increase in aluminum prices to some extent. Overall, the current aluminum enterprises have made rapid progress in resuming production and the demand has continued to improve.
Zinc: Today, the price of zinc in Foshan market has dropped, which has further aggravated the wait-and-see atmosphere in the market. Traders are more cautious in receiving goods during this period, and basically maintain low inventory operations. Most of them only make inquiries after receiving orders, and the market transactions are weak. Market operating rate and demand increase, and market sentiment continues to converge. It is expected that zinc prices will continue to rise after negative digestion.
Stainless Steel: Stainless steel futures continue to run weakly. In the spot market, due to the slow progress of demand-side resumption of work, the pressure of oversupply is obvious, and the delivery of steel strips is blocked. At the same time, it also limits the recovery of scrap trading. Manufacturers keep receiving goods at a stable price, and the holders are reluctant to sell, so buyers and sellers are in a stalemate and wait-and-see state. The after-market focuses on the performance of demand recovery. (Analyzed by LTIT)
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