Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 27
2025-3-27
Copper: Spot copper price in Foshan market dropped slightly today, LME copper price surged back and put pressure on domestic copper price trend, SHFE copper main force returned below 82,000 yuan, spot copper price fell slightly under pressure, and market trading became more cautious. It is reported that Trump announced a 25% tariff on imported cars on Wednesday, and people familiar with the matter said that the United States will accelerate the copper tariff collection, several months ahead of schedule, which triggered market concerns about escalating trade tensions and slowing global economic growth. Under the tariff storm, the United States will grab copper or trigger a global "copper shortage." At present, major investment banks are bullish on the copper market price. Goldman Sachs predicts that the copper price of LME in three months, six months and twelve months will be $9,600, $10,000 and $10,700 per ton respectively.
Aluminum: Today, the price of aluminum in Foshan market rose against the trend, and the transaction improved. The expectations of the Federal Reserve's interest rate cut and European fiscal easing are heating up, the domestic economic growth policy continues to increase, the traditional consumption peak season is coming, the demand expectation is more optimistic, and the operating rate of leading aluminum processing enterprises in the downstream is gradually increasing. Multi-factor resonance, the traders expect that the price center of SHFE aluminum is expected to move up in the second quarter.
Zinc: SHFE zinc reached the upper part of the range and became weak. Middlemen and traders were cautious about the trend of zinc market in the future, and most downstream manufacturers maintained on-demand procurement, and the overall turnover was average. SHFE zinc may try to rebound technically in the short term, but under the pressure of high inventory and weak demand, the rebound space is limited.
Stainless Steel: The nickel price rallied continuously to reproduce the rising trend, and the stainless steel futures continued to rise, which revived the confidence in the spot market. The steel strip was traded at a stable price, and the scrap industry was readjusted. The rising intention warmed up, but the kinetic energy was still insufficient. The mainstream manufacturers traded at a single stable price. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market rose against the trend, and the transaction improved. The expectations of the Federal Reserve's interest rate cut and European fiscal easing are heating up, the domestic economic growth policy continues to increase, the traditional consumption peak season is coming, the demand expectation is more optimistic, and the operating rate of leading aluminum processing enterprises in the downstream is gradually increasing. Multi-factor resonance, the traders expect that the price center of SHFE aluminum is expected to move up in the second quarter.
Zinc: SHFE zinc reached the upper part of the range and became weak. Middlemen and traders were cautious about the trend of zinc market in the future, and most downstream manufacturers maintained on-demand procurement, and the overall turnover was average. SHFE zinc may try to rebound technically in the short term, but under the pressure of high inventory and weak demand, the rebound space is limited.
Stainless Steel: The nickel price rallied continuously to reproduce the rising trend, and the stainless steel futures continued to rise, which revived the confidence in the spot market. The steel strip was traded at a stable price, and the scrap industry was readjusted. The rising intention warmed up, but the kinetic energy was still insufficient. The mainstream manufacturers traded at a single stable price. (Analyzed by LTIT)
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