Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 24
2025-3-24
Copper: The spot copper price in Foshan market continues to be stable today, and the market caution is warming up. The Fed cut interest rates cautiously, the long-short game in the market intensified, and copper prices continued to fluctuate at a high level. The traders are concerned about whether the short-term copper price can be further broken. At present, there are still many uncertainties on the macro level, and the global attention is focused on the US reciprocal tariff on April 2, which may still be variable. Worried that the United States will impose tariffs on copper imports, the price of COMEX copper will be much higher than that of LME copper, prompting global traders to transport copper from all over the world to the delivery warehouse of COMEX in the United States. Goldman Sachs predicts that the net import of copper in the United States may surge by 50% to 100% in the coming months. At present, big investment banks are bullish on copper prices, and Goldman Sachs expects copper prices to rise to $10,200/ton in the fourth quarter.
Aluminum: Today, the aluminum price in Foshan market continues to fall, Trump's reciprocal tariff is about to be implemented, and the market risk aversion may heat up. There is news in China that interest rates will not be cut urgently for the time being, the dividend of consumption policy will gradually fade, and SHFE aluminum will show a high callback trend. Demand-side peak season expectations are slightly frustrated, and the downstream operating rate is still at a low level. Most aluminum manufacturers maintain low-cost on-demand procurement, and the transaction is weak.
Zinc: SHFE zinc has rallied above 24,000 again. Downstream middlemen and traders are still worried about the trend of zinc market in the future, and a large number of goods are still not available. Traders maintain their enthusiasm for shipment, and the purchasing intention of zinc manufacturers is still not strong. Most of them maintain on-demand procurement, and individual manufacturers only need to purchase, and the overall transaction is relatively average. The short-term zinc price may have the risk of falling.
Stainless Steel: Monday's opening continued to decline. SHFEi nickel and stainless steel futures are still in a downward trend. The spot market has returned to a calm state, and the steel strip price has barely stabilized. The transaction needs to be stimulated. In addition, the scrap market is running smoothly, and the industry has a wait-and-see atmosphere. Recently, the arrival of the venue is large, and the purchase price of manufacturers is conservative. ( Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market continues to fall, Trump's reciprocal tariff is about to be implemented, and the market risk aversion may heat up. There is news in China that interest rates will not be cut urgently for the time being, the dividend of consumption policy will gradually fade, and SHFE aluminum will show a high callback trend. Demand-side peak season expectations are slightly frustrated, and the downstream operating rate is still at a low level. Most aluminum manufacturers maintain low-cost on-demand procurement, and the transaction is weak.
Zinc: SHFE zinc has rallied above 24,000 again. Downstream middlemen and traders are still worried about the trend of zinc market in the future, and a large number of goods are still not available. Traders maintain their enthusiasm for shipment, and the purchasing intention of zinc manufacturers is still not strong. Most of them maintain on-demand procurement, and individual manufacturers only need to purchase, and the overall transaction is relatively average. The short-term zinc price may have the risk of falling.
Stainless Steel: Monday's opening continued to decline. SHFEi nickel and stainless steel futures are still in a downward trend. The spot market has returned to a calm state, and the steel strip price has barely stabilized. The transaction needs to be stimulated. In addition, the scrap market is running smoothly, and the industry has a wait-and-see atmosphere. Recently, the arrival of the venue is large, and the purchase price of manufacturers is conservative. ( Analyzed by LTIT)
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