Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 28
2025-3-28
Copper: The spot copper price in Foshan market fell across the board today, and trading was cautious. US President Trump announced that he would impose a "severe" 25% tariff on all cars and core components imported into the United States. This policy may trigger the restructuring of the US auto industry and intensify the escalation of the global auto trade war, which will trigger long-term profit-taking in the metal market. LME copper fell for three days and retreated to around $9,800, while SHFE copper retreated to above 80,000 yuan. The first quarter is coming to an end, and the overall trend of copper prices has remained volatile. Although the high price has suffered a profit correction, the rising pattern has not been reversed. However, the correction of the high copper price has also triggered the cautious sentiment in the market to heat up. Most copper manufacturers mainly purchase on demand, and transactions are limited. In the short term, traders should pay attention to the support of 80,000 mark.
Aluminum: The price of aluminum in Foshan market fell sharply today, mainly due to the correction of aluminum futures, and the transaction was cautious. The automobile tariff dispute intensified the market sentiment, the demand prospect of the metal market was damaged, the metal price was under pressure and the aluminum price was not spared. At present, the process of SHFE aluminum inventory destocking is good, and the downstream replenishment is maintained but the enthusiasm is limited. Under the interweaving of long and short positions, the aluminum price may fluctuate weakly in the short term.
Zinc: SHFE zinc prices fell moderately, and downstream manufacturers entered the market on dips to replenish their stocks. Recently, the news dominated the market, and zinc prices were unstable, making purchases still cautious, with few purchases and good overall market transactions. The processing fee of zinc mine continues to increase, and the new global production capacity is accelerated. The zinc price is expected to continue to fluctuate weakly, and the main force of SHFE zinc is 23,500 to find support.
Stainless Steel: Nickel and stainless steel futures continued to rebound. With the rhythm of market rally, the spot market price sentiment gradually warmed up, and the steel strip quotation was raised step by step, which led to a steady and upward test transaction. At the same time, it also drove the scrap trading to follow the rising atmosphere. Industry manufacturers took the initiative to make inquiries, and buyers took advantage of the situation to increase prices and receive goods. (Analyzed by LTIT)
Aluminum: The price of aluminum in Foshan market fell sharply today, mainly due to the correction of aluminum futures, and the transaction was cautious. The automobile tariff dispute intensified the market sentiment, the demand prospect of the metal market was damaged, the metal price was under pressure and the aluminum price was not spared. At present, the process of SHFE aluminum inventory destocking is good, and the downstream replenishment is maintained but the enthusiasm is limited. Under the interweaving of long and short positions, the aluminum price may fluctuate weakly in the short term.
Zinc: SHFE zinc prices fell moderately, and downstream manufacturers entered the market on dips to replenish their stocks. Recently, the news dominated the market, and zinc prices were unstable, making purchases still cautious, with few purchases and good overall market transactions. The processing fee of zinc mine continues to increase, and the new global production capacity is accelerated. The zinc price is expected to continue to fluctuate weakly, and the main force of SHFE zinc is 23,500 to find support.
Stainless Steel: Nickel and stainless steel futures continued to rebound. With the rhythm of market rally, the spot market price sentiment gradually warmed up, and the steel strip quotation was raised step by step, which led to a steady and upward test transaction. At the same time, it also drove the scrap trading to follow the rising atmosphere. Industry manufacturers took the initiative to make inquiries, and buyers took advantage of the situation to increase prices and receive goods. (Analyzed by LTIT)
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