Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 14
2025-3-14
Copper: The spot copper price in Foshan market continues to rise today, and the short-term trend fluctuates strongly. The continued weakness of the US dollar index and the news of the reduction of domestic copper smelters stimulated the SHFE copper main contract to successfully break through the integer mark of 80,000 yuan, with an increase of 6,470 yuan (8.77%) during the year. The market caution has warmed up, and the traders are worried that the short-term copper price will face the risk of high callback, but it is still bullish on the after-market. Citigroup expects copper prices to climb by $10,000/ton in March. At present, it is widely expected that the Federal Reserve will adopt a loose monetary policy stance, and it is expected to cut interest rates at least twice this year to continue to support the prospect of metal demand. Domestic social stocks of electrolytic copper continue the trend of destocking, which still supports the rise of copper prices. Short-term copper prices may be easy to rise and difficult to fall.
Aluminum: Today, the aluminum price in Foshan market continues to be stable, and the price has not changed much. SHFE aluminum is facing a test after breaking the integer mark of 21,000 yuan, and the short-term price may fluctuate repeatedly. At present, the cautious mood in the aluminum market is heating up, and the price of aluminum has risen to the current high level, which brings pressure to aluminum manufacturers. After all, the improvement of demand in the aluminum market is still limited, and most manufacturers maintain on-demand procurement and transactions are limited.
Zinc: The price of zinc is weak. Downstream middlemen and traders are worried about the trend of zinc market, and a large number of goods are still not available. Traders maintain their enthusiasm for shipping, and the purchasing intention of zinc manufacturers is still not strong. Most of them maintain purchasing on demand, but only a few manufacturers replenish their stocks in moderation, and the overall transaction is relatively average. American tariff policy continues to disturb the market, and there is a risk of rising and falling.
Stainless Steel: LME nickel reversed last night's decline this morning and followed the collective shock. The domestic market continued to rise, and stainless steel futures rose above 13,500. The spot market transactions faced the test of rising demand, and the momentum of chasing high prices in the waste industry was temporarily suspended. Although the supply of goods was tight, buyers valued more on goods instead of prices. Supply and demand should be considered in the after-market , and the cost is expected to support. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market continues to be stable, and the price has not changed much. SHFE aluminum is facing a test after breaking the integer mark of 21,000 yuan, and the short-term price may fluctuate repeatedly. At present, the cautious mood in the aluminum market is heating up, and the price of aluminum has risen to the current high level, which brings pressure to aluminum manufacturers. After all, the improvement of demand in the aluminum market is still limited, and most manufacturers maintain on-demand procurement and transactions are limited.
Zinc: The price of zinc is weak. Downstream middlemen and traders are worried about the trend of zinc market, and a large number of goods are still not available. Traders maintain their enthusiasm for shipping, and the purchasing intention of zinc manufacturers is still not strong. Most of them maintain purchasing on demand, but only a few manufacturers replenish their stocks in moderation, and the overall transaction is relatively average. American tariff policy continues to disturb the market, and there is a risk of rising and falling.
Stainless Steel: LME nickel reversed last night's decline this morning and followed the collective shock. The domestic market continued to rise, and stainless steel futures rose above 13,500. The spot market transactions faced the test of rising demand, and the momentum of chasing high prices in the waste industry was temporarily suspended. Although the supply of goods was tight, buyers valued more on goods instead of prices. Supply and demand should be considered in the after-market , and the cost is expected to support. (Analyzed by LTIT)
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