Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 24
2025-2-24
Copper: The spot copper price in Foshan market has not changed much today, and market transactions continue to be cautious. The surge in copper stocks in China has caused market demand concerns, indicating that the current fatigue of the actual consumer market has put some pressure on the trend of copper prices. SHFE copper fell slightly, LME copper remained above $9,500, and the short-term high fluctuation trend was still obvious. Investors' high profit-taking has suppressed copper prices, and the market is wary of the uncertainty of US President Trump's tariff plan. At present, it is difficult for the supply and demand side to provide more support. With the fatigue of domestic spot demand and the suppression of replenishment by high prices, the inventory accumulated to a six-month high, which put some pressure on short-term copper prices.
Aluminum: Today, the price of aluminum in Foshan market has fallen sharply, and the market caution has warmed up. The stagnation of new house prices in China in January deepened the concern of metal demand, and the continuous rise of spot aluminum prices curbed the demand for stocking. Buyers were cautious and maintained a small amount of purchases with rigid demand, which led to the pressure on goods holders to leave the warehouse and the sluggish market, which put pressure on aluminum prices.
Zinc: The situation in Russia-Ukraine is dawning, and the fall of crude oil has dragged down the oscillation of zinc. Holders and traders are worried that the trend of zinc market is generally positive in the later period, downstream manufacturers are cautious and mainly purchase on demand, and the demand is weak and the spot market is weak. China's economy is on the offensive in the spring, and the warmer mood drives the increase in buying. It is expected that the zinc price will fluctuate upward in the after-market.
Stainless Steel: This week, stainless steel started badly, futures fell, the spot market suddenly got cold, and the demand for steel strip picked up and met with resistance again. In addition, the belief of keeping the price in the waste industry is firm, and the manufacturers still conduct stable price transactions according to the price increase, and the supply transactions are smooth. The after-market is a game of supply and demand, and the current price fluctuates. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has fallen sharply, and the market caution has warmed up. The stagnation of new house prices in China in January deepened the concern of metal demand, and the continuous rise of spot aluminum prices curbed the demand for stocking. Buyers were cautious and maintained a small amount of purchases with rigid demand, which led to the pressure on goods holders to leave the warehouse and the sluggish market, which put pressure on aluminum prices.
Zinc: The situation in Russia-Ukraine is dawning, and the fall of crude oil has dragged down the oscillation of zinc. Holders and traders are worried that the trend of zinc market is generally positive in the later period, downstream manufacturers are cautious and mainly purchase on demand, and the demand is weak and the spot market is weak. China's economy is on the offensive in the spring, and the warmer mood drives the increase in buying. It is expected that the zinc price will fluctuate upward in the after-market.
Stainless Steel: This week, stainless steel started badly, futures fell, the spot market suddenly got cold, and the demand for steel strip picked up and met with resistance again. In addition, the belief of keeping the price in the waste industry is firm, and the manufacturers still conduct stable price transactions according to the price increase, and the supply transactions are smooth. The after-market is a game of supply and demand, and the current price fluctuates. (Analyzed by LTIT)
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