Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 12
2025-3-12
Copper: Today, the spot copper price in Foshan market ushered in a long-lost surge, and the market trading confidence has improved. The fall of the US dollar and the sharp drop in LME copper stocks boosted LME copper, which rose strongly, hitting an intraday high of $9,745, driving the main SHFE copper contract to break through the integer mark of 79,000 yuan. At present, the big investment banks generally expect the copper price to be strong in the afternoon, while the traders expect that the short-term copper price is expected to sprint to the 80,000 mark. After entering March, the demand of copper market continued to improve, and the recent correction of copper price stimulated the traders’ willingness to buy goods on dips. Domestic electrolytic copper social inventory has been in a state of destocking, and the arrival of inventory inflection point will bring support to copper price. At present, the domestic volume of recycled copper is small and the imports are upside down, and the holders are generally reluctant to sell at low prices, which supports the price increase of recycled copper.
Aluminum: Today, the price of aluminum in Foshan market has risen sharply. Supported by the decline of the US dollar index, SHFE Aluminum successfully broke through the integer mark of 21,000 yuan, bringing optimism to the current aluminum market. At present, the supply performance of the aluminum market is stable. Driven by the consumption in the peak season of "Golden March and Silver April", the operating rate of downstream aluminum manufacturers is expected to continue to rise, or support the further increase of aluminum prices, but it is still necessary to be alert to the impact of tariffs.
Zinc: The US dollar fell and the United States and Ukraine reached a 30-day armistice agreement. The price of zinc strengthened to maintain a range fluctuation, and the goods merchants shipped on the market. Manufacturers are relatively cautious about entering the market at low prices, mainly with rigid demand procurement. The overall market turnover of zinc ingots was stable. In March, the demand of zinc market improved, the operating rate of galvanized and die-casting alloy enterprises rebounded, and the centralized construction of infrastructure projects drove the orders for galvanized pipes to pick up.
Stainless Steel: The US dollar index fell, which boosted the metal market. However, due to the uncertainty of tariff measures, investors were still worried about the economy, which led to the selling of US stocks and the cautious operation of nickel prices at a high level. At present, the supply of tax reform measures in Indonesia has been disturbed, and the sentiment of price appreciation at the mine end has warmed up. However, the downstream fear of high trading is light, and LME nickel stocks have increased significantly, putting pressure on it. Today, the price of nickel is limited. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has risen sharply. Supported by the decline of the US dollar index, SHFE Aluminum successfully broke through the integer mark of 21,000 yuan, bringing optimism to the current aluminum market. At present, the supply performance of the aluminum market is stable. Driven by the consumption in the peak season of "Golden March and Silver April", the operating rate of downstream aluminum manufacturers is expected to continue to rise, or support the further increase of aluminum prices, but it is still necessary to be alert to the impact of tariffs.
Zinc: The US dollar fell and the United States and Ukraine reached a 30-day armistice agreement. The price of zinc strengthened to maintain a range fluctuation, and the goods merchants shipped on the market. Manufacturers are relatively cautious about entering the market at low prices, mainly with rigid demand procurement. The overall market turnover of zinc ingots was stable. In March, the demand of zinc market improved, the operating rate of galvanized and die-casting alloy enterprises rebounded, and the centralized construction of infrastructure projects drove the orders for galvanized pipes to pick up.
Stainless Steel: The US dollar index fell, which boosted the metal market. However, due to the uncertainty of tariff measures, investors were still worried about the economy, which led to the selling of US stocks and the cautious operation of nickel prices at a high level. At present, the supply of tax reform measures in Indonesia has been disturbed, and the sentiment of price appreciation at the mine end has warmed up. However, the downstream fear of high trading is light, and LME nickel stocks have increased significantly, putting pressure on it. Today, the price of nickel is limited. (Analyzed by LTIT)
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