Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 21
2025-2-21
Copper: Today, the spot copper price in Foshan market is stable, and the low rebound of the US dollar index brings some pressure to the short-term copper price. However, with the start of post-holiday demand, the overall trend of copper price remains strong and volatile. US President Trump has revealed that a new trade agreement may be reached with China, the world's largest consumer of metals. This news has eased the worries of the global trade war and enhanced market consumer confidence. At the same time, the real estate market in China is picking up, the policy meeting is approaching, and the market preference is further rising, which pushes SHFE copper to continue to run strongly in the short term. In addition, March is the traditional consumption peak season, and the market is optimistic about the expectation of demand recovery, which has boosted copper prices. The traders expect domestic copper prices to hit the 80,000 mark in the short term.
Aluminum: Today, the price of aluminum in Foshan market is rising further, and this week's trend is strong. Recently, the EU envoy agreed to ban the import of Russian primary aluminum, which boosted LME aluminum to a new high in nearly nine months, followed by SHFE aluminum, and the main contract almost reached the 21,000 yuan mark, which led to a continuous increase in spot aluminum prices. In the short term, traders should continue to pay attention to the recovery of terminal consumption and inventory changes.
Zinc: the price of zinc continues to fluctuate and rise, and the cargo holders actively ship. With the rising price of zinc, the wait-and-see atmosphere in the market has been aggravated. Traders are more cautious in receiving goods, and basically maintain inventory. Most downstream manufacturers only make inquiries after receiving orders, and purchase according to orders, which makes market transactions seem dull. Demand is improving, and the traders still expect the zinc in the after-market to fluctuate upwards.
Stainless Steel: Stainless steel futures rose sharply. As the market price surged, the spot market began to stir up and the steel strip transaction ushered in a long-lost active atmosphere. The pace of supply flow in the waste industry has accelerated, and active buyers have slightly increased their absorption, and the overall market has risen accordingly. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market is rising further, and this week's trend is strong. Recently, the EU envoy agreed to ban the import of Russian primary aluminum, which boosted LME aluminum to a new high in nearly nine months, followed by SHFE aluminum, and the main contract almost reached the 21,000 yuan mark, which led to a continuous increase in spot aluminum prices. In the short term, traders should continue to pay attention to the recovery of terminal consumption and inventory changes.
Zinc: the price of zinc continues to fluctuate and rise, and the cargo holders actively ship. With the rising price of zinc, the wait-and-see atmosphere in the market has been aggravated. Traders are more cautious in receiving goods, and basically maintain inventory. Most downstream manufacturers only make inquiries after receiving orders, and purchase according to orders, which makes market transactions seem dull. Demand is improving, and the traders still expect the zinc in the after-market to fluctuate upwards.
Stainless Steel: Stainless steel futures rose sharply. As the market price surged, the spot market began to stir up and the steel strip transaction ushered in a long-lost active atmosphere. The pace of supply flow in the waste industry has accelerated, and active buyers have slightly increased their absorption, and the overall market has risen accordingly. (Analyzed by LTIT)
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