Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 18
2025-3-18
Copper: Today, spot copper prices in the Foshan market saw a modest across-the-board increase. Since the beginning of the year, the copper market has shown a strong and volatile trend. Currently, the copper market is supported by multiple positive factors: the US dollar index remains at low levels, copper inventories both domestically and internationally continue to decline, and China's stimulus policies have further boosted market sentiment. Both SHFE and LME copper futures have repeatedly hit new phased highs. LME copper reached a high of $9,889, marking a five-month peak, while the SHFE copper main contract hit 80,700 yuan, an eight-month high. The rally in futures has brought optimism to the spot copper market, driving prices upward. However, March still presents numerous uncertainties, including ongoing tariff disputes and geopolitical tensions, which could introduce volatility to global markets. As a result, after breaking through the 80,000 yuan threshold, copper manufacturers have adopted a cautious approach, primarily purchasing based on immediate needs.
Aluminum: Aluminum prices in the Foshan market remained stable today, with a slight dip, as market caution intensified. China's announcement of a "Special Action Plan" to stimulate domestic consumption has boosted bullish sentiment. However, weak downstream orders and high spot prices have suppressed purchasing enthusiasm, leading to subdued trading activity. Following the recent rapid price increases, consumption is now under pressure, and aluminum prices are expected to show limited movement in the short term.
Zinc: The decline in zinc prices has dampened market trading sentiment. Traders and intermediaries are concerned about the future trajectory of the zinc market, leading to restrained bulk purchases. Sellers remain active in offloading inventory, but zinc manufacturers are not showing strong buying interest, with most maintaining a demand-based purchasing approach. Overall market transactions have slowed.
Stainless Steel: Both SHFE nickel and stainless steel futures have experienced a pullback, causing the bullish sentiment in the spot market to cool rapidly. Trading attitudes have shifted to caution, and the enthusiasm for chasing higher prices in the scrap sector has been impacted. Manufacturers and buyers have reacted accordingly, with purchase prices generally retreating from recent highs. Despite this, the pace of material circulation and transactions has accelerated. (Analyzed by LTIT)
Aluminum: Aluminum prices in the Foshan market remained stable today, with a slight dip, as market caution intensified. China's announcement of a "Special Action Plan" to stimulate domestic consumption has boosted bullish sentiment. However, weak downstream orders and high spot prices have suppressed purchasing enthusiasm, leading to subdued trading activity. Following the recent rapid price increases, consumption is now under pressure, and aluminum prices are expected to show limited movement in the short term.
Zinc: The decline in zinc prices has dampened market trading sentiment. Traders and intermediaries are concerned about the future trajectory of the zinc market, leading to restrained bulk purchases. Sellers remain active in offloading inventory, but zinc manufacturers are not showing strong buying interest, with most maintaining a demand-based purchasing approach. Overall market transactions have slowed.
Stainless Steel: Both SHFE nickel and stainless steel futures have experienced a pullback, causing the bullish sentiment in the spot market to cool rapidly. Trading attitudes have shifted to caution, and the enthusiasm for chasing higher prices in the scrap sector has been impacted. Manufacturers and buyers have reacted accordingly, with purchase prices generally retreating from recent highs. Despite this, the pace of material circulation and transactions has accelerated. (Analyzed by LTIT)
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