Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 11
2025-3-11
Copper: Today, the spot copper price in Foshan market is adjusted back across the board, and the market caution continues to heat up. U.S. tariff policy caused economic recession concerns, US stocks suffered "Black Monday", the atmosphere of commodity market was empty, non-ferrous metals floated green in a large area, and copper prices in domestic SHFE and spot markets were under pressure for a comprehensive correction, but the overall price was still in the high-priced range. At present, although the expectation of European recovery and the weakening of the US dollar provide short-term support for copper prices, the cooling of US economic data, trade frictions and concerns about economic stagflation have limited the room for further increase in copper prices. Domestically, with the destocking and the gradual fulfillment of peak season demand, there is strong support below the copper price, but the upward momentum is insufficient, and the short-term copper price may continue to fluctuate within a range.
Aluminum: The price of aluminum in Foshan market dropped slightly today. The US tariff policy has caused concern about the prospect of the market economy, and the pressure of SHFE aluminum's integer mark of 21,000 yuan has not been broken yet. The traders believe that the downstream consumption season is approaching in March, and the terminal consumption of electrolytic aluminum will continue to heat up. Also, under the condition of limited increment of aluminum supply end, it is expected that aluminum prices will perform well in the peak season.
Zinc: Affected by the worries about the economic recession in the United States, zinc continued to decline, with more merchants entering the market, traders maintaining their enthusiasm for shipment, downstream manufacturers maintaining a more cautious attitude, some manufacturers with rigid demand purchasing more actively, and spot transactions slightly increased than before.
Stainless Steel: The price of nickel rose to a high level in the past five months, LME nickel gradually approached the $17,000 mark, and the stainless steel side still rose. Futures went up step by step, and the trading atmosphere in the spot market fluctuated with the trend of futures. The scrap industry insisted on a high price, manufacturers actively paid orders, and buyers and sellers continued to tend to trade at high prices. (Analyzed by LTIT)
Aluminum: The price of aluminum in Foshan market dropped slightly today. The US tariff policy has caused concern about the prospect of the market economy, and the pressure of SHFE aluminum's integer mark of 21,000 yuan has not been broken yet. The traders believe that the downstream consumption season is approaching in March, and the terminal consumption of electrolytic aluminum will continue to heat up. Also, under the condition of limited increment of aluminum supply end, it is expected that aluminum prices will perform well in the peak season.
Zinc: Affected by the worries about the economic recession in the United States, zinc continued to decline, with more merchants entering the market, traders maintaining their enthusiasm for shipment, downstream manufacturers maintaining a more cautious attitude, some manufacturers with rigid demand purchasing more actively, and spot transactions slightly increased than before.
Stainless Steel: The price of nickel rose to a high level in the past five months, LME nickel gradually approached the $17,000 mark, and the stainless steel side still rose. Futures went up step by step, and the trading atmosphere in the spot market fluctuated with the trend of futures. The scrap industry insisted on a high price, manufacturers actively paid orders, and buyers and sellers continued to tend to trade at high prices. (Analyzed by LTIT)
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