Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 26
2025-2-26
Copper: The spot copper price in Foshan market has not changed much today, and the market caution has warmed up. Trump launched a new tariff investigation on copper, which aggravated the anxiety of metal demand. Market investors' short-selling sentiment warmed up. LME copper continued to be weak and fluctuated at a high level, temporarily staying below $9,500. SHFE copper fell slightly for four consecutive days, and the trading center fluctuated downwards. It is difficult for spot copper prices to improve under pressure. At present, the expectations of interest rate cuts in the two domestic conferences have weakened, market sentiment has gradually cooled down, and copper prices have been further adjusted. Recently, the supply of overseas copper mines has been disturbed, Glencore Philippines recently announced its maintenance, Chile's main copper mines have been shut down due to power failure, and domestic copper concentrate processing fees have continued to decline, all of which have aggravated the expectation of tight supply, and there is little possibility of deep adjustment of copper prices in the short term.
Aluminum: Today, the price of aluminum in Foshan market stopped falling and rebounded, and the trading mood in the market improved accordingly. After the continuous decline in aluminum prices in recent days, the purchase cost has obviously moved down, attracting many aluminum manufacturers to actively enter the market to purchase replenishment, while the holders tend to be reluctant to sell at a high price, and the transaction has improved. It is generally expected that there will still be pressure on the short-term aluminum price trend, but SHFE aluminum is still a strong support level around 20,500 yuan.
Zinc: Today, the trend of zinc price in Foshan market is relatively weak, and the wait-and-see mood of downstream manufacturers is obvious. Most of them are mainly based on inquiry. Due to the poor new orders, they basically maintain on-demand procurement and curb market transactions. Most of the transactions come from traders. The low social stock of zinc ingots supports the price of zinc, and it is expected that there is limited room for the price of zinc to fall.
Stainless Steel: Stainless steel futures fell unsteadily, the price pressure in the spot market increased sharply, the trading atmosphere was restored to its original shape, the scrap industry was not afraid of falling futures, the supply and demand of goods accelerated, manufacturers actively negotiated transactions, and the market continued to maintain a steady and gradual trend. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market stopped falling and rebounded, and the trading mood in the market improved accordingly. After the continuous decline in aluminum prices in recent days, the purchase cost has obviously moved down, attracting many aluminum manufacturers to actively enter the market to purchase replenishment, while the holders tend to be reluctant to sell at a high price, and the transaction has improved. It is generally expected that there will still be pressure on the short-term aluminum price trend, but SHFE aluminum is still a strong support level around 20,500 yuan.
Zinc: Today, the trend of zinc price in Foshan market is relatively weak, and the wait-and-see mood of downstream manufacturers is obvious. Most of them are mainly based on inquiry. Due to the poor new orders, they basically maintain on-demand procurement and curb market transactions. Most of the transactions come from traders. The low social stock of zinc ingots supports the price of zinc, and it is expected that there is limited room for the price of zinc to fall.
Stainless Steel: Stainless steel futures fell unsteadily, the price pressure in the spot market increased sharply, the trading atmosphere was restored to its original shape, the scrap industry was not afraid of falling futures, the supply and demand of goods accelerated, manufacturers actively negotiated transactions, and the market continued to maintain a steady and gradual trend. (Analyzed by LTIT)
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