Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 3
2025-3-3
Copper: The spot copper price in Foshan market rose slightly today, and the transaction improved. There are still many uncertainties in the news this week. The US non-agricultural report will be released in February, and the European Central Bank is expected to cut interest rates by 25 basis points continuously. The US tariff increase will continue to be a hot topic, and the market tension may reach its peak in the next week, which will disturb the market trend of non-ferrous metals and commodities. At present, the fundamentals of the domestic copper market are relatively weak, and the SHFE copper society library has accumulated to a high level of six and a half months. The short-term rebound of copper prices is highly suppressed due to the weak consumption of superimposed terminals. However, the optimistic expectations on the eve of the two sessions, coupled with the recent news from major overseas mines, coupled with the traditional consumption peak month in March, are expected to support copper prices.
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the transaction improved. Although the tariff situation is changeable, the domestic aluminum market has a general preference for fundamentals. With the arrival of the peak consumption season and the gradual destocking of stocks, aluminum prices are expected to continue their strong performance. It is expected that aluminum prices will fluctuate at a high level in the short term, and follow-up attention will be paid to the implementation of the "two sessions" policy and the changes in the global economic situation.
Zinc: The wait-and-see atmosphere in the market remains unchanged. Traders are still cautious in receiving goods, and most of them make inquiries only after receiving orders. Downstream manufacturers are even more worried about the price of zinc in the after-market, and they mainly wait and see, and their purchasing enthusiasm is not high, and the transaction has not changed much. There is uncertainty in the US tariff policy. The social stock of zinc ingots is at a low level to support the zinc price, which may fluctuate and rally in the after-market.
Stainless Steel: This week, the stainless steel futures continued to rebound. The spot market wanted to make a small increase to test the transaction. Steel belts and scrap were closely linked. Manufacturers increased their buying efforts. The supply and demand of goods turned positive to stimulate the price increase atmosphere to gradually heat up. Buyers took advantage of the trend to actively follow the price, and the supply tended to be high-priced. The after-market pays attention to the steel strip transaction situation and the atmosphere of scrap price increase. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the transaction improved. Although the tariff situation is changeable, the domestic aluminum market has a general preference for fundamentals. With the arrival of the peak consumption season and the gradual destocking of stocks, aluminum prices are expected to continue their strong performance. It is expected that aluminum prices will fluctuate at a high level in the short term, and follow-up attention will be paid to the implementation of the "two sessions" policy and the changes in the global economic situation.
Zinc: The wait-and-see atmosphere in the market remains unchanged. Traders are still cautious in receiving goods, and most of them make inquiries only after receiving orders. Downstream manufacturers are even more worried about the price of zinc in the after-market, and they mainly wait and see, and their purchasing enthusiasm is not high, and the transaction has not changed much. There is uncertainty in the US tariff policy. The social stock of zinc ingots is at a low level to support the zinc price, which may fluctuate and rally in the after-market.
Stainless Steel: This week, the stainless steel futures continued to rebound. The spot market wanted to make a small increase to test the transaction. Steel belts and scrap were closely linked. Manufacturers increased their buying efforts. The supply and demand of goods turned positive to stimulate the price increase atmosphere to gradually heat up. Buyers took advantage of the trend to actively follow the price, and the supply tended to be high-priced. The after-market pays attention to the steel strip transaction situation and the atmosphere of scrap price increase. (Analyzed by LTIT)
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