Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 21
2025-3-21
Copper: The spot copper price in Foshan market dropped slightly today, and the market caution has warmed up. LME copper made a slight correction after breaking through $10,000, and the main contract of SHFE copper also retreated to around 81,000 yuan. After the continuous rise of copper prices, it faced certain profit pressure, and a short correction may be more conducive to the further rise of copper prices. At present, the fundamentals of the copper market have improved as a whole, the decline of TC in domestic copper concentrate has expanded, the market has speculated that smelters have cut production unplanned, and supply tightening is expected to strengthen support for copper prices. And under the expectation of golden March, the spot consumption has generally improved, the transaction activity has increased, and the Shanghai Yangshan copper premium has increased, supporting the copper price. However, because the copper price has risen to a relatively high level, the downstream is afraid of high consumption, and the downstream is cautious in purchasing. Short-term copper prices may fluctuate at a high level.
Aluminum: Today, the price of aluminum in Foshan market fluctuated slightly, and the transaction was slightly cautious. The peak season is expected to fail. At present, it has entered the end of March, and the feedback from terminal consumption is poor, and the increase of new orders in the downstream is limited. The superposition of high aluminum prices inhibits demand, and the downstream only maintains rigid demand replenishment. The outbound performance cools down and the expected arrival of goods increases at the weekend, which puts pressure on the short-term aluminum price increase.
Zinc: The rising momentum of zinc price is insufficient, and traders ship goods on the market with them. The downstream zinc manufacturers have low willingness to receive goods, and they are cautious in purchasing goods. They have not increased the purchase volume because of the falling zinc price, and the spot market transactions are stable. Zinc processing fees continue to increase, new global production capacity is accelerated, and zinc is expected to continue to fluctuate weakly.
Stainless Steel: As the decline of nickel and stainless steel futures slowed down, the confidence in the spot market stopped falling and stabilized like the price, the steel strip appeared calm, the scrap trading atmosphere was readjusted, and the rising intention warmed up, but the kinetic energy was still insufficient, and mainstream manufacturers continued to trade at a single stable price. At the end of next week, the supply and demand ends are expected to slow down, and the market is mainly stable and fine-tuned. ( Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market fluctuated slightly, and the transaction was slightly cautious. The peak season is expected to fail. At present, it has entered the end of March, and the feedback from terminal consumption is poor, and the increase of new orders in the downstream is limited. The superposition of high aluminum prices inhibits demand, and the downstream only maintains rigid demand replenishment. The outbound performance cools down and the expected arrival of goods increases at the weekend, which puts pressure on the short-term aluminum price increase.
Zinc: The rising momentum of zinc price is insufficient, and traders ship goods on the market with them. The downstream zinc manufacturers have low willingness to receive goods, and they are cautious in purchasing goods. They have not increased the purchase volume because of the falling zinc price, and the spot market transactions are stable. Zinc processing fees continue to increase, new global production capacity is accelerated, and zinc is expected to continue to fluctuate weakly.
Stainless Steel: As the decline of nickel and stainless steel futures slowed down, the confidence in the spot market stopped falling and stabilized like the price, the steel strip appeared calm, the scrap trading atmosphere was readjusted, and the rising intention warmed up, but the kinetic energy was still insufficient, and mainstream manufacturers continued to trade at a single stable price. At the end of next week, the supply and demand ends are expected to slow down, and the market is mainly stable and fine-tuned. ( Analyzed by LTIT)
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