Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 2
2025-4-2
Copper: The spot copper price in Foshan market rose slightly today, and the slight rebound of copper futures drove the spot price to pick up, but the transaction was still cautious. The details of Trump's reciprocal tariffs still need to be clarified. Analysts reminded that in the short term, it is necessary to be alert to the fluctuation risk brought about by the landing of tariff policies. If the United States imposes tariff measures, it may trigger the bulls to further close their positions and promote the convergence of the price difference between internal and external markets. Although the short-term copper price suffered a profit-taking market after hitting a new high in the year, the overall price was still in the high-priced range, which put pressure on the downstream demand for copper. Traders still purchased mainly on demand, and they were still worried about the short-term copper price trend, and the market was more wait-and-see mood. However, there may be some material preparation behavior before the Qingming holiday, which has some support for copper prices.
Aluminum: Today, the aluminum price in Foshan market continues to be stable, and trading is cautious. Risk aversion warmed up before the comprehensive tariff in the United States, LME aluminum suffered a 10-day losing streak, and SHFE aluminum continued to fluctuate downward under pressure, but the 20,000-yuan mark still had good support. At present, the traders are paying close attention to the relevant reports of reciprocal tariffs and the impact of tariff policies on the demand of the aluminum market, with a strong wait-and-see mood.
Zinc: The weak rebound of zinc price has suppressed the trading atmosphere in the market. Traders are extremely cautious in receiving goods, and most of them make inquiries only after receiving orders. Downstream manufacturers have insufficient confidence in the zinc price of after-market, and wait and see mainly to purchase on demand, and the overall market transactions turn weak. 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: In April, stainless steel futures rebounded strongly, which led to the trading sentiment in the spot market. As the Tomb-Sweeping Day holiday approached, the pace of steel strip transactions accelerated, the circulation of waste materials decreased significantly, manufacturers actively replenished their stocks with the trend, and the trading bargaining price rose slightly. The after-market is expected to challenge the March high. With many favorable cooperation, the price of stainless steel is driven by cost. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market continues to be stable, and trading is cautious. Risk aversion warmed up before the comprehensive tariff in the United States, LME aluminum suffered a 10-day losing streak, and SHFE aluminum continued to fluctuate downward under pressure, but the 20,000-yuan mark still had good support. At present, the traders are paying close attention to the relevant reports of reciprocal tariffs and the impact of tariff policies on the demand of the aluminum market, with a strong wait-and-see mood.
Zinc: The weak rebound of zinc price has suppressed the trading atmosphere in the market. Traders are extremely cautious in receiving goods, and most of them make inquiries only after receiving orders. Downstream manufacturers have insufficient confidence in the zinc price of after-market, and wait and see mainly to purchase on demand, and the overall market transactions turn weak. 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: In April, stainless steel futures rebounded strongly, which led to the trading sentiment in the spot market. As the Tomb-Sweeping Day holiday approached, the pace of steel strip transactions accelerated, the circulation of waste materials decreased significantly, manufacturers actively replenished their stocks with the trend, and the trading bargaining price rose slightly. The after-market is expected to challenge the March high. With many favorable cooperation, the price of stainless steel is driven by cost. (Analyzed by LTIT)
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