Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 1
2025-4-1
Copper: The spot copper price in Foshan market is stable today. President Trump's final tariff decision will be announced on April 2, and the global market will hold its breath. Affected by the completion of the quarterly closing and risk control, the current copper in Guangdong has increased in inventory, and the spot trading premium has narrowed. The recent decline in the high level of refined copper in the United States, but it is still more than 1,000 US dollars higher than LME copper, has been ignored due to the short-term tariff risk. In addition, the measures taken by the United States to increase automobile tariffs at the end of March have also put pressure on metals such as copper and aluminum, and short-term funds are still mainly based on profit-making. However, the international financial linkage of copper and the recent strength of gold are expected to support copper prices to some extent. The Qingming small holiday in China is coming soon, and some stock preparation markets appear, and recycled copper is now reluctant to sell at a low level.
Aluminum: Today, the price of aluminum in Foshan market is stable and the trading is cautious. SHFE aluminum oscillated back and is currently at a low stage. In the second quarter, there were no more stimulating measures in China for the time being, which caused the traders to worry about the aluminum demand in the after-market. Traders chose to make up a small amount of positions after the price continued to fall, but most businesses were still cautious and wait-and-see, and the inventory accumulated.
Zinc: The price of zinc rebounded at a low level, and the number of stocking merchants increased before the holiday. Recently, the news dominated the market, and a new round of tariffs in the United States will be announced. The market is still cautious, mainly preparing materials in moderation, and market transactions have improved. The traders believe that as the US tariff landing window approaches, the market sentiment tends to be cautious, and the short-term zinc price may continue to fluctuate within a narrow range.
Stainless Steel: LME nickel fell sharply last night and once fell below the $16,000 mark. Domestic stainless steel futures rose under the pressure, and the spot market showed an optimistic attitude of stabilizing prices. Some buyers in the scrap industry rushed to attract goods before the Tomb-Sweeping Day holiday, and the transaction price was slightly higher. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market is stable and the trading is cautious. SHFE aluminum oscillated back and is currently at a low stage. In the second quarter, there were no more stimulating measures in China for the time being, which caused the traders to worry about the aluminum demand in the after-market. Traders chose to make up a small amount of positions after the price continued to fall, but most businesses were still cautious and wait-and-see, and the inventory accumulated.
Zinc: The price of zinc rebounded at a low level, and the number of stocking merchants increased before the holiday. Recently, the news dominated the market, and a new round of tariffs in the United States will be announced. The market is still cautious, mainly preparing materials in moderation, and market transactions have improved. The traders believe that as the US tariff landing window approaches, the market sentiment tends to be cautious, and the short-term zinc price may continue to fluctuate within a narrow range.
Stainless Steel: LME nickel fell sharply last night and once fell below the $16,000 mark. Domestic stainless steel futures rose under the pressure, and the spot market showed an optimistic attitude of stabilizing prices. Some buyers in the scrap industry rushed to attract goods before the Tomb-Sweeping Day holiday, and the transaction price was slightly higher. (Analyzed by LTIT)
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