Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 31
2025-3-31
Copper: The spot copper price in Foshan market has fallen across the board today, and the cautious mood in the market has warmed up. The "reciprocal tariff" in the United States is about to be implemented, and the market risk aversion is heating up sharply. LME copper suffered a four-day losing streak, and the lowest fell to $9,734/ton, which was $430 lower than last week's high. The main contract of SHFE copper fell below the 80,000 yuan mark again. This week's tariff landing may be the key to the macro disturbance of copper prices, and the uncertainty of details may cause violent fluctuations. Although the copper price has dropped, the domestic copper price is still running at a high level, which inhibits the enthusiasm of downstream replenishment to a certain extent. Processing enterprises have to cope with the cost pressure for maintenance, and the demand is weak and it is difficult to change in the short term. It is generally believed that there is still adjustment pressure on short-term copper prices, and it is necessary to pay attention to the changes of PMI and policy expectations in China.
Aluminum: Today, the price of aluminum in Foshan market has dropped slightly, the tariff fulfillment is approaching, and the market risk aversion has warmed up. In addition, the domestic incremental policy and demand outlook in April have turned cautious, and aluminum prices are under pressure. At present, factories and enterprises are concerned about the impact of export and the follow-up of US tariff measures. At present, the high peripheral aluminum price also supports the domestic aluminum price, and it is expected that the short-term aluminum test will be at the bottom of the recent range.
Zinc: SHFE zinc continued to explore, and downstream manufacturers entered the market on dips to replenish their stocks. Recently, the news dominated the market, and the unstable zinc price made the procurement still cautious, and the overall market transactions improved. The new round of tariffs in the United States has suppressed consumer expectations, and zinc has reached the bottom of the range. It is expected that there will be limited room for further decline.
Stainless Steel: The rising trend of nickel and stainless steel futures was reversed, the spot market price rose enthusiastically and cooled down, the manufacturers in the waste industry operated flexibly because of the situation, and most buyers withdrew their receiving prices from high prices, so the overall transaction was biased towards a wait-and-see atmosphere. Tomb-Sweeping Day holiday will be ushered in this week, and the traders are generally optimistic about the after-market. It is expected that the demand for material preparation from manufacturers will support the market easily. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has dropped slightly, the tariff fulfillment is approaching, and the market risk aversion has warmed up. In addition, the domestic incremental policy and demand outlook in April have turned cautious, and aluminum prices are under pressure. At present, factories and enterprises are concerned about the impact of export and the follow-up of US tariff measures. At present, the high peripheral aluminum price also supports the domestic aluminum price, and it is expected that the short-term aluminum test will be at the bottom of the recent range.
Zinc: SHFE zinc continued to explore, and downstream manufacturers entered the market on dips to replenish their stocks. Recently, the news dominated the market, and the unstable zinc price made the procurement still cautious, and the overall market transactions improved. The new round of tariffs in the United States has suppressed consumer expectations, and zinc has reached the bottom of the range. It is expected that there will be limited room for further decline.
Stainless Steel: The rising trend of nickel and stainless steel futures was reversed, the spot market price rose enthusiastically and cooled down, the manufacturers in the waste industry operated flexibly because of the situation, and most buyers withdrew their receiving prices from high prices, so the overall transaction was biased towards a wait-and-see atmosphere. Tomb-Sweeping Day holiday will be ushered in this week, and the traders are generally optimistic about the after-market. It is expected that the demand for material preparation from manufacturers will support the market easily. (Analyzed by LTIT)
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