Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 12
2025-5-12
Copper: Today, the copper price in Foshan market rose slightly across the board, and the trading mood in the market turned optimistic. The high-level economic and trade talks between China and the United States have made substantial progress and reached an important consensus. This news has alleviated the tension in the Sino-US trade situation to a certain extent. The price of non-ferrous metals has risen across the board, LME copper has climbed above $9,500 again, and the main contract of SHFE copper has also jumped above $78,000, driving the spot copper price to rise slightly. However, in May, the copper market is facing the risk of seasonal off-season, and the market demand is expected to weaken. Therefore, copper manufacturers are still mainly purchasing on demand, and the gap between LME copper and refined copper is slowly narrowing to about 800 US dollars. Looking forward to the market outlook, the progress of Sino-US negotiations may make the macro expectation marginal turn positive, and the short-term price is expected to remain strong.
Aluminum: Today, the price of aluminum in Foshan market has risen in an all-round way, and the market transactions have improved. The macro-positive situation has brought optimism to the aluminum market, and with the support of alumina rally, SHFE aluminum has re-approached the 20,000 yuan mark, and aluminum manufacturers are chasing goods in moderation. However, gradually entering the off-season, the weakening demand of factories and enterprises and the weak real estate market still restrict the demand for aluminum in the market outlook, and the expected rebound space of aluminum prices is limited.
Zinc: The main contract of SHFE zinc is hovering around 22,250 yuan, and the market activity is not high. Traders are relatively cautious in receiving goods. The current zinc market transaction is still calm, and the downstream zinc manufacturers still maintain the purchase according to the order, and the overall market transaction is weak. There is a ceasefire between India and Pakistan, and substantial progress has been made in Sino-US trade negotiations. The spot premium for delivery this week is at risk of falling, and the zinc price may remain volatile.
Stainless Steel: This week, the macro-level release was favorable, which led to the full-line entry of metals. Both SHFE nickel and stainless steel futures jumped. The spot market actively followed the atmosphere of price increase, steel belts continued to explore and make deals, and manufacturers in the scrap industry continued to take advantage of the situation to raise their quotations to chase after goods and stimulate the circulation of goods. With the development of favorable factors, the market gradually improved, and the center of gravity of stainless steel prices moved up. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market has risen in an all-round way, and the market transactions have improved. The macro-positive situation has brought optimism to the aluminum market, and with the support of alumina rally, SHFE aluminum has re-approached the 20,000 yuan mark, and aluminum manufacturers are chasing goods in moderation. However, gradually entering the off-season, the weakening demand of factories and enterprises and the weak real estate market still restrict the demand for aluminum in the market outlook, and the expected rebound space of aluminum prices is limited.
Zinc: The main contract of SHFE zinc is hovering around 22,250 yuan, and the market activity is not high. Traders are relatively cautious in receiving goods. The current zinc market transaction is still calm, and the downstream zinc manufacturers still maintain the purchase according to the order, and the overall market transaction is weak. There is a ceasefire between India and Pakistan, and substantial progress has been made in Sino-US trade negotiations. The spot premium for delivery this week is at risk of falling, and the zinc price may remain volatile.
Stainless Steel: This week, the macro-level release was favorable, which led to the full-line entry of metals. Both SHFE nickel and stainless steel futures jumped. The spot market actively followed the atmosphere of price increase, steel belts continued to explore and make deals, and manufacturers in the scrap industry continued to take advantage of the situation to raise their quotations to chase after goods and stimulate the circulation of goods. With the development of favorable factors, the market gradually improved, and the center of gravity of stainless steel prices moved up. (for reference only)
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