Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 17
2025-3-17
Copper: Today, spot copper prices in the Foshan market were mostly stable, with market caution on the rise. As the market enters a "super central bank week", liquidity has turned cautious. After a rapid decline earlier, the US dollar index is now in a technical correction phase, with short positions weakening as the market awaits guidance from the interest rate meetings. Additionally, after a period of continuous fluctuations and gains, copper futures have accumulated significant increases. Following the breakthrough of the 80,000 yuan mark on the SHFE, copper faces pressure for a high-level correction. However, in the short term, domestic copper inventories are declining due to improved demand, which continues to support copper prices. SHFE copper may continue to test the 80,000 yuan mark, while LME copper could aim for the $10,000 threshold. Currently, with caution prevailing due to high prices, buyers are mainly in a wait-and-see mode, limiting significant fluctuations in spot copper prices.
Aluminum: Today, aluminum prices in the Foshan market experienced a slight decline, accompanied by increased market caution. After breaking through the 21,000 yuan mark on the SHFE, aluminum faces correction pressure. Industry players anticipate that tariff issues may hinder aluminum exports, increasing future supply pressures. As a result, buyers are largely adopting a wait-and-see approach, maintaining procurement based on demand. The market is closely watching for a turning point in aluminum inventories, with prices potentially continuing to test the 21,000 yuan level.
Zinc: Zinc prices remain firm near the upper end of their range. Downstream zinc manufacturers are cautious in their procurement, mainly purchasing based on orders. Both supply and demand sides are at a stalemate, leading to limited market transactions. With frequent domestic economic stimulus policies and low zinc inventories entering a destocking cycle, zinc prices may break through the current range and rise further.
Stainless Steel: At the start of the week, the upward momentum of nickel and stainless steel futures slowed, and spot steel strip prices were also constrained, leading to cautious transactions. However, the scrap market remains exceptionally active. Due to intensified supply shortages, manufacturers are rushing to fulfill orders, and buyers are willing to chase higher prices to secure materials, driving scrap stainless steel prices even higher. (Analyzed by LTIT)
Aluminum: Today, aluminum prices in the Foshan market experienced a slight decline, accompanied by increased market caution. After breaking through the 21,000 yuan mark on the SHFE, aluminum faces correction pressure. Industry players anticipate that tariff issues may hinder aluminum exports, increasing future supply pressures. As a result, buyers are largely adopting a wait-and-see approach, maintaining procurement based on demand. The market is closely watching for a turning point in aluminum inventories, with prices potentially continuing to test the 21,000 yuan level.
Zinc: Zinc prices remain firm near the upper end of their range. Downstream zinc manufacturers are cautious in their procurement, mainly purchasing based on orders. Both supply and demand sides are at a stalemate, leading to limited market transactions. With frequent domestic economic stimulus policies and low zinc inventories entering a destocking cycle, zinc prices may break through the current range and rise further.
Stainless Steel: At the start of the week, the upward momentum of nickel and stainless steel futures slowed, and spot steel strip prices were also constrained, leading to cautious transactions. However, the scrap market remains exceptionally active. Due to intensified supply shortages, manufacturers are rushing to fulfill orders, and buyers are willing to chase higher prices to secure materials, driving scrap stainless steel prices even higher. (Analyzed by LTIT)
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