Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 4
2025-3-4
Copper: The spot copper price in Foshan market is stable today, and trading continues to be cautious. At present, the domestic macro level is warmer, China's manufacturing PMI has returned to the top of threshold, and the market consumption confidence has increased, which has boosted the prospect of metal demand. However, the uncertainty of US tariff policy has put pressure on risky assets, and the stagflation risk in the US economy has forced the Fed to maintain a cautious and loose stance, and the macro-long and short interweaving has limited the increase of copper prices. The tightening of copper mines and the intensification of smelting losses have provided some support for copper prices, but the uncertainty of macro-economy and the slow pace of downstream recovery have limited the room for copper prices to rise. In the short term, copper prices will show a pattern of inter-community shocks. In the short term, we need to pay attention to the further warming of the two sessions and consumption, and wait for the market to break through.
Aluminum: The price of aluminum in Foshan market has not changed much today. The two sessions kicked off, and the market waited for good news. With the improvement of digested aluminum ingot trading in the early stage of the market, aluminum in SHFE period continued to fluctuate above 20,500, and the pressure level remained at 21,000. Judging from the demand for the follow-up Spring Festival and the favorable expectations, aluminum ingots are supported by the bottom, and the interval fluctuation is the main tone.
Zinc: The US dollar index is weak, the price of zinc fluctuates widely, the market supply is loose, traders are relatively cautious in purchasing goods, and the downstream materials manufacturers are not afraid to change their attitude, and they mainly wait and see, and their willingness to buy goods is still not strong, so the market transaction is average.
Stainless Steel: The stainless steel market is immersed in the atmosphere of price increase. With the gradual recovery of downstream demand, the transaction and shipment of steel strips have improved. At the same time, the release of steel production capacity has sharply increased the purchase of waste materials, and the supply of goods is tight. Manufacturers and buyers have taken advantage of the situation to chase after the price to receive goods and continue to push up the transaction price. (Analyzed by LTIT)
Aluminum: The price of aluminum in Foshan market has not changed much today. The two sessions kicked off, and the market waited for good news. With the improvement of digested aluminum ingot trading in the early stage of the market, aluminum in SHFE period continued to fluctuate above 20,500, and the pressure level remained at 21,000. Judging from the demand for the follow-up Spring Festival and the favorable expectations, aluminum ingots are supported by the bottom, and the interval fluctuation is the main tone.
Zinc: The US dollar index is weak, the price of zinc fluctuates widely, the market supply is loose, traders are relatively cautious in purchasing goods, and the downstream materials manufacturers are not afraid to change their attitude, and they mainly wait and see, and their willingness to buy goods is still not strong, so the market transaction is average.
Stainless Steel: The stainless steel market is immersed in the atmosphere of price increase. With the gradual recovery of downstream demand, the transaction and shipment of steel strips have improved. At the same time, the release of steel production capacity has sharply increased the purchase of waste materials, and the supply of goods is tight. Manufacturers and buyers have taken advantage of the situation to chase after the price to receive goods and continue to push up the transaction price. (Analyzed by LTIT)
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