Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 25
2025-2-25
Copper: The spot copper price in Foshan market fell slightly today, and market transactions continued to be cautious. Affected by the rise of the US dollar and the metal demand concerns caused by the US tariff plan, LME copper has been continuously fluctuating and falling in recent days, falling below the $9,500 mark, and the copper prices in the two cities are under pressure in the domestic period. At present, the SHFE copper pool has been continuously accumulated and has reached a six-month high, further suppressing the rally space of copper prices. At the same time, the spot consumption is sluggish, the high price inhibits the downstream replenishment mood, the end users wait and see, and the premium continues to be under pressure. In the short term, the kinetic energy of copper price rebound will be weakened if the demand does not recover beyond expectations. At present, the market pays close attention to the upcoming China People's Congress next week, expecting that more economic stimulus measures may be introduced to support economic growth.
Aluminum: Today, the price of aluminum in Foshan market has fallen sharply, and the continuous increase in inventory has put pressure on aluminum prices. At present, the national average cost of electrolytic aluminum has dropped to about 17,000 yuan/ton, and the cost support has been further weakened. The profit of electrolytic aluminum rebounded to above 3,500 yuan/ton, which made electrolytic aluminum enterprises start to resume production in advance, and the supply pressure is expected to increase. Short-term aluminum prices may continue to fluctuate within a range.
Zinc: Today, the price of zinc in Foshan market continues to drop, the number of merchants entering the market increases, the enthusiasm of traders to deliver goods remains, the downstream manufacturers maintain a more cautious attitude, some manufacturers with rigid demand are more active in purchasing, and spot trading improves.
Stainless Steel: The stainless steel futures market was not stable, and the spot market was normal. The steel strip returned to a stable price trading state, and the scrap industry generally operated according to the order. The manufacturers actively replenished their products, and there were many small price chases to stimulate the supply of goods to clinch a deal. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has fallen sharply, and the continuous increase in inventory has put pressure on aluminum prices. At present, the national average cost of electrolytic aluminum has dropped to about 17,000 yuan/ton, and the cost support has been further weakened. The profit of electrolytic aluminum rebounded to above 3,500 yuan/ton, which made electrolytic aluminum enterprises start to resume production in advance, and the supply pressure is expected to increase. Short-term aluminum prices may continue to fluctuate within a range.
Zinc: Today, the price of zinc in Foshan market continues to drop, the number of merchants entering the market increases, the enthusiasm of traders to deliver goods remains, the downstream manufacturers maintain a more cautious attitude, some manufacturers with rigid demand are more active in purchasing, and spot trading improves.
Stainless Steel: The stainless steel futures market was not stable, and the spot market was normal. The steel strip returned to a stable price trading state, and the scrap industry generally operated according to the order. The manufacturers actively replenished their products, and there were many small price chases to stimulate the supply of goods to clinch a deal. (Analyzed by LTIT)
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