Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 19
2025-3-19
Copper: The spot copper price in Foshan market continued to rise slightly today, and the short-term trend fluctuated strongly. Recently, the price of refined copper has been soaring all the way. Since March, it has risen by more than 10%, reaching the highest level of 5.032. Relatively speaking, domestic copper futures and LME copper futures are extremely stagflation. The main contract of SHFE copper rose by 5% in March, while LME copper rose by nearly 6%, hitting an intraday high of $9,917. At present, the domestic fiscal policy continues to increase, and the expansion of infrastructure, consumption and industry is accelerating. However, we should pay attention to the potential impact of US tariffs on Chinese goods on export demand. The shock of the low dollar supported the copper price, but the domestic downstream consumption was deserted and the terminal was afraid of high, which limited the increase. Short-term copper price fluctuates at a high level or the main tone, and LME copper is expected to break through the $10,000 mark.
Aluminum: Today, the aluminum price in Foshan market has fallen in an all-round way, and the current aluminum price has been dragged down by the high aluminum callback, and the market caution has warmed up. The price of alumina keeps falling, hitting a 15-month low again, putting pressure on short-term aluminum prices. Although the market expects domestic measures to stimulate consumption, the growth of new orders is not obvious, export orders continue to be under pressure, and purchases are still cautious.
Zinc: The price of zinc fluctuated and fell, the merchants were cautious, and the spot transaction was not satisfactory. SHFE zinc inventory is still in a cumulative state, which also limits the rush speed of zinc price. However, the stable domestic automobile production and sales, the recovery of infrastructure industry and the bottoming out of real estate policy have formed a hedge. In addition, the market still has certain expectations for the prosperous March and April, and zinc in the after-market may break through the interval.
Stainless Steel: The price of nickel fluctuated and the callback trend weakened, bringing the stainless steel futures back to a high level. The confidence in the spot market suffered a double blow, the price of steel strip fell and fled, and the price of scrap was reduced equally rapidly. The trading atmosphere in the industry returned to rationality, and manufacturers readjusted their operations, speeding up the outflow of profitable goods. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market has fallen in an all-round way, and the current aluminum price has been dragged down by the high aluminum callback, and the market caution has warmed up. The price of alumina keeps falling, hitting a 15-month low again, putting pressure on short-term aluminum prices. Although the market expects domestic measures to stimulate consumption, the growth of new orders is not obvious, export orders continue to be under pressure, and purchases are still cautious.
Zinc: The price of zinc fluctuated and fell, the merchants were cautious, and the spot transaction was not satisfactory. SHFE zinc inventory is still in a cumulative state, which also limits the rush speed of zinc price. However, the stable domestic automobile production and sales, the recovery of infrastructure industry and the bottoming out of real estate policy have formed a hedge. In addition, the market still has certain expectations for the prosperous March and April, and zinc in the after-market may break through the interval.
Stainless Steel: The price of nickel fluctuated and the callback trend weakened, bringing the stainless steel futures back to a high level. The confidence in the spot market suffered a double blow, the price of steel strip fell and fled, and the price of scrap was reduced equally rapidly. The trading atmosphere in the industry returned to rationality, and manufacturers readjusted their operations, speeding up the outflow of profitable goods. (Analyzed by LTIT)
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