Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 13
2025-3-13
Copper: Spot copper prices in Foshan market continued to rise today, and trading improved. The expected warming of the US interest rate cut and the rising oil price supported the overall preference atmosphere of the market, and traders continued to be bullish on copper prices. Citigroup expects copper prices to climb by $10,000/ton in March. LME copper continued to be strong, reaching an intraday high of $9,811, a five-month high. SHFE copper main contract hit an intraday high of 79,870 yuan/ton, hitting an eight-month high, and may continue to sprint the integer mark of 80,000 yuan in the short term. Despite the bullish sentiment in the market, buyers in the spot copper market are still cautious, and most of them purchase or sell stocks as needed to make profits. The traders expect that the short-term SHFE copper 80,000 mark may become the main resistance. On the whole, short-term copper prices may be prone to rise and fall.
Aluminum: Today, the aluminum price in Foshan market is stable. The escalation of the global trade war led to market panic, and aluminum fell at a high level under pressure. Due to the increasing market fear of heights, the willingness of aluminum manufacturers to purchase demand is weakened, and the overall consumption level is average. However, due to the continuous decline of domestic aluminum ingot stock and the expected support in peak season, the aluminum price is expected to remain in the range of 20,500-21,000 yuan in the short term.
Zinc: The weak operation of the US dollar index superimposed the rebound of US stocks, the bullish metal market, and the zinc price continued to rise. At present, the buyer's market is still cautious and wait-and-see, the middlemen keep buying according to the order, the downstream manufacturers are worried about the zinc price in the after-market, the purchasing enthusiasm is not high, and the market transactions are mainly based on rigid demand. However, the traders still have high expectations for the peak season demand, and SHFE zinc may remain at a high level in the short term.
Stainless Steel: In the short term, under the resonance of macro and overseas policies, the nickel price fluctuates strongly, but after the market sentiment cools down, the nickel price may return to the fundamentals. At present, the supply of tax reform measures in Indonesia is disturbed, and the sentiment of price appreciation at the mine end is heating up. However, the trading volume in the lower reaches is light, and LME nickel inventory is greatly increased. It is expected that the price of nickel will rise and fall limited today. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market is stable. The escalation of the global trade war led to market panic, and aluminum fell at a high level under pressure. Due to the increasing market fear of heights, the willingness of aluminum manufacturers to purchase demand is weakened, and the overall consumption level is average. However, due to the continuous decline of domestic aluminum ingot stock and the expected support in peak season, the aluminum price is expected to remain in the range of 20,500-21,000 yuan in the short term.
Zinc: The weak operation of the US dollar index superimposed the rebound of US stocks, the bullish metal market, and the zinc price continued to rise. At present, the buyer's market is still cautious and wait-and-see, the middlemen keep buying according to the order, the downstream manufacturers are worried about the zinc price in the after-market, the purchasing enthusiasm is not high, and the market transactions are mainly based on rigid demand. However, the traders still have high expectations for the peak season demand, and SHFE zinc may remain at a high level in the short term.
Stainless Steel: In the short term, under the resonance of macro and overseas policies, the nickel price fluctuates strongly, but after the market sentiment cools down, the nickel price may return to the fundamentals. At present, the supply of tax reform measures in Indonesia is disturbed, and the sentiment of price appreciation at the mine end is heating up. However, the trading volume in the lower reaches is light, and LME nickel inventory is greatly increased. It is expected that the price of nickel will rise and fall limited today. (Analyzed by LTIT)
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