Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 26
2025-3-26
Copper: The spot copper price in Foshan market continued to rise slightly today. According to the news, the United States may levy taxes on imported copper in advance, and the market is worried that the import cost will rise in the future. Under the tariff storm, the United States will grab copper or trigger a global "copper shortage". Meijing Copper took the lead in refreshing the record high to 5.374, with an increase of 32% during the year. LME copper reached a peak of $10,164, rising by 15.7% during the year, with a slight stagflation; In the domestic period, the copper prices in the two cities followed the rising trend, but the fear of heights limited the trading activity in the market, and the rising trend lagged behind. Supply is tight. Major investment banks are bullish on the price of copper in the after-market. Trafigura Group, the world's largest copper trading company, said that the price of copper may rise from about 10,000 US dollars/ton at present to 12,000 US dollars/ton.
Aluminum: Today, the aluminum price in Foshan market continues to be stable, and the fundamentals are not enough to drive people's hearts. The expected fulfillment degree of traditional consumption peak season is limited, and the recovery process of operating rate of terminal processing enterprises is divided, which leads to the obstruction of social inventory destocking rhythm. However, the bargain-hunting in the downstream still has support, the price drop is limited, and the transaction has picked up slightly. In the short term, aluminum prices may continue to fluctuate in the range.
Zinc: Zinc maintains sideways volatility, and merchants are afraid of falling. Traders are cautious in receiving goods, and most of them make inquiries after receiving orders. Downstream manufacturers are even more worried about the zinc prices in the after-market, and they mainly wait and see, with low purchasing enthusiasm and weak overall market transactions. The release of new global production capacity is accelerated, and zinc is expected to continue to fluctuate weakly.
Stainless Steel: LME nickel regained the $16,000 mark, SHFE nickel stopped falling and held at 13,000, stainless steel futures rebounded slightly, the spot market was stimulated by the rising market, the fear of falling subsided, the steel strip was confident and priced, the bargaining parties of scrap trading were divided, the buyer's price reduction and reluctance to sell the goods formed a stalemate, and the transaction was generally stable. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market continues to be stable, and the fundamentals are not enough to drive people's hearts. The expected fulfillment degree of traditional consumption peak season is limited, and the recovery process of operating rate of terminal processing enterprises is divided, which leads to the obstruction of social inventory destocking rhythm. However, the bargain-hunting in the downstream still has support, the price drop is limited, and the transaction has picked up slightly. In the short term, aluminum prices may continue to fluctuate in the range.
Zinc: Zinc maintains sideways volatility, and merchants are afraid of falling. Traders are cautious in receiving goods, and most of them make inquiries after receiving orders. Downstream manufacturers are even more worried about the zinc prices in the after-market, and they mainly wait and see, with low purchasing enthusiasm and weak overall market transactions. The release of new global production capacity is accelerated, and zinc is expected to continue to fluctuate weakly.
Stainless Steel: LME nickel regained the $16,000 mark, SHFE nickel stopped falling and held at 13,000, stainless steel futures rebounded slightly, the spot market was stimulated by the rising market, the fear of falling subsided, the steel strip was confident and priced, the bargaining parties of scrap trading were divided, the buyer's price reduction and reluctance to sell the goods formed a stalemate, and the transaction was generally stable. (Analyzed by LTIT)
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