Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 9
2025-5-9
Copper: Today, the copper price in Foshan market has not changed much, and the trading mood in the market continues to be cautious. This week, LME copper rose first and then fell, while SHFE copper continued to fluctuate within a narrow range. On the macro level, the market continues to focus on the progress of US tariffs. Although the attitude of the US government is wavering, the improvement is expected to continue. In particular, the short-term Sino-US economic and trade talks have boosted market confidence, but it can also be expected that there will be repetitions. In terms of fundamentals, the quality of copper demand in the peak season has been relatively good since April, and it was once tense when it quickly went to the warehouse, which also made the domestic spot premium continue to rise. Under the macro and fundamental resonance, there is no reason to be bearish for the time being. At present, the peak season is facing a weakening stage, and the demand in the copper market is expected to decline. The market is concerned about the acceptance of high copper prices by downstream copper manufacturers.
Aluminum: Today, the price of aluminum in Foshan market is stable and the transaction is light. Domestic RRR cuts and interest rate cuts have landed, and the market response has been flat; The Federal Reserve kept interest rates unchanged as scheduled, and aluminum prices fell slightly under pressure. After entering May, the aluminum market gradually entered the seasonal off-season, and many factories and enterprises reported that orders had begun to weaken. tariff war in the United States also blocked the export of aluminum, putting pressure on aluminum prices.
Zinc: The price of zinc has fallen under pressure, and the merchants are cautious, basically purchasing according to orders. The spot zinc price has not changed much, and the spot zinc price has fallen more or less, which affects the purchasing mentality of manufacturers, basically maintaining the demand-based procurement, and the overall market transaction is dull. The geopolitical situation is unstable. Traders pay attention to the subsequent evolution of tariff war, and the zinc price may remain weak.
Stainless Steel: This week, the stainless steel market continued to improve, the spot steel strip rose slightly, the demand transaction gradually adapted, the atmosphere of scrap trading increased, and the rainy weather caused the supply to be more scarce, and some manufacturers secretly raised the purchase and replenishment. With the continuous improvement of rigid demand transactions, the pressure on market funds has gradually eased, and the stainless steel market is expected to continue to move up. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market is stable and the transaction is light. Domestic RRR cuts and interest rate cuts have landed, and the market response has been flat; The Federal Reserve kept interest rates unchanged as scheduled, and aluminum prices fell slightly under pressure. After entering May, the aluminum market gradually entered the seasonal off-season, and many factories and enterprises reported that orders had begun to weaken. tariff war in the United States also blocked the export of aluminum, putting pressure on aluminum prices.
Zinc: The price of zinc has fallen under pressure, and the merchants are cautious, basically purchasing according to orders. The spot zinc price has not changed much, and the spot zinc price has fallen more or less, which affects the purchasing mentality of manufacturers, basically maintaining the demand-based procurement, and the overall market transaction is dull. The geopolitical situation is unstable. Traders pay attention to the subsequent evolution of tariff war, and the zinc price may remain weak.
Stainless Steel: This week, the stainless steel market continued to improve, the spot steel strip rose slightly, the demand transaction gradually adapted, the atmosphere of scrap trading increased, and the rainy weather caused the supply to be more scarce, and some manufacturers secretly raised the purchase and replenishment. With the continuous improvement of rigid demand transactions, the pressure on market funds has gradually eased, and the stainless steel market is expected to continue to move up. (for reference only)
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