Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 20
2025-2-20
Copper: Today, the spot copper price in Foshan market rose slightly, and the market sentiment picked up. The rebound of the US dollar index has prompted the bulls to take profits, and the LME copper club library has recently entered the accumulation stage, which has put some pressure on the short-term LME copper price, but it still maintains a high level. At present, the US-Russia negotiations have reached a number of consensuses. At the same time, the domestic side has clearly adopted a more active fiscal policy and a moderately loose monetary policy. This series of measures has promoted the risk appetite in the financial market and benefited the price trend of metallic copper. The operating rate in the downstream of the spot market has steadily increased, and the operating rate has basically returned to the level before the year; At the same time, the spot bargain-hunting with rigid demand replenishment led to a rebound in the market trading atmosphere. The overall atmosphere of the market is favorable, and copper prices are expected to continue to rise.
Aluminum: Today, the price of aluminum in Foshan market continues to rise.European and American aluminum prices remain high and strong due to tariff measures and other factors. However, the domestic aluminum market has been suppressed due to the lack of obvious signs of starting demand after the year. In the face of the continuous accumulation of existing aluminum stocks, aluminum ingot holders continue to make profits by shipping at a discount. The traders hope that seasonal demand will start to accelerate inventory digestion, with a short term of 21,000 yuan.
Zinc: The main contract of SHFE zinc fluctuated below 24,000 yuan. Due to the unsatisfactory market demand, traders were timid and the shipping mentality was positive, and the purchasing enthusiasm of downstream manufacturers was obviously insufficient. Most manufacturers still kept a cautious wait-and-see attitude, and the overall market transactions were dull.
Stainless Steel: Nickel and stainless steel rose, futures started to rebound continuously, and the spot market also took advantage of the situation to drive up the price increase atmosphere. Steel strip trading is active, the delivery of orders from manufacturers in the waste industry is accelerated, buyers actively follow the trend to absorb goods, and the transaction volume of recycling sites is greatly improved. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market continues to rise.European and American aluminum prices remain high and strong due to tariff measures and other factors. However, the domestic aluminum market has been suppressed due to the lack of obvious signs of starting demand after the year. In the face of the continuous accumulation of existing aluminum stocks, aluminum ingot holders continue to make profits by shipping at a discount. The traders hope that seasonal demand will start to accelerate inventory digestion, with a short term of 21,000 yuan.
Zinc: The main contract of SHFE zinc fluctuated below 24,000 yuan. Due to the unsatisfactory market demand, traders were timid and the shipping mentality was positive, and the purchasing enthusiasm of downstream manufacturers was obviously insufficient. Most manufacturers still kept a cautious wait-and-see attitude, and the overall market transactions were dull.
Stainless Steel: Nickel and stainless steel rose, futures started to rebound continuously, and the spot market also took advantage of the situation to drive up the price increase atmosphere. Steel strip trading is active, the delivery of orders from manufacturers in the waste industry is accelerated, buyers actively follow the trend to absorb goods, and the transaction volume of recycling sites is greatly improved. (Analyzed by LTIT)
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