Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 16
2025-5-16
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 continued to fluctuate in a range, and the optimism brought about by the easing of the global trade situation gradually subsided. The market's worries about the long-term demand prospects reappeared, which may continue to put pressure on copper prices in the short term, and the price increase is expected to be limited. Entering the off-season of seasonal demand, the downstream demand of domestic copper has declined to some extent, and the performance of domestic electrolytic copper stocks has rebounded, making it difficult for short-term copper prices to continue to rise. Generally speaking, the relaxation of Sino-US trade relations is beneficial to the subsequent increase in export demand, but the arrival of the off-season puts pressure on demand, and funds are easy to control risks and make short-term profits. It is expected that short-term copper will fluctuate around $9,500, waiting for more information.
Aluminum: Today, the price of aluminum in Foshan market has fallen in an all-round way, and market transactions continue to be cautious. At present, the economic data in the United States is weak, and demand concerns are heating up. However, the fundamentals of the domestic aluminum market are good, and the social inventory of aluminum continues to go to the warehouse, exceeding market expectations, and continues to support the aluminum price to remain above 20,000 yuan. In the off-season, the goods holders are active in shipping, and the buyers mainly purchase on demand.
Zinc: SHFE zinc is weak in rising, and the spot price is insufficient to keep up with rising. The goods-holders mainly deliver goods, and the traders follow the market to purchase according to orders. Most downstream zinc manufacturers mainly purchase cautiously, and replenish their products in case of low price and moderate rigid demand. The transaction volume has not changed much compared with yesterday. The decline in internal and external stocks has supported the spot zinc, and the import window has opened up low-priced sources of goods or impacted the market, short-term zinc or callback.
Stainless Steel: Nickel and stainless steel futures fell, trading sentiment in the spot market turned cautious, the rhythm of steel strip transactions slowed down, the scrap industry was clever, manufacturers' receiving prices retreated from high levels, and the accelerated supply dragged down prices. At present, the rebound of stainless steel futures above 13000 is blocked, and the after-market still depends on the fundamental support of demand. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market has fallen in an all-round way, and market transactions continue to be cautious. At present, the economic data in the United States is weak, and demand concerns are heating up. However, the fundamentals of the domestic aluminum market are good, and the social inventory of aluminum continues to go to the warehouse, exceeding market expectations, and continues to support the aluminum price to remain above 20,000 yuan. In the off-season, the goods holders are active in shipping, and the buyers mainly purchase on demand.
Zinc: SHFE zinc is weak in rising, and the spot price is insufficient to keep up with rising. The goods-holders mainly deliver goods, and the traders follow the market to purchase according to orders. Most downstream zinc manufacturers mainly purchase cautiously, and replenish their products in case of low price and moderate rigid demand. The transaction volume has not changed much compared with yesterday. The decline in internal and external stocks has supported the spot zinc, and the import window has opened up low-priced sources of goods or impacted the market, short-term zinc or callback.
Stainless Steel: Nickel and stainless steel futures fell, trading sentiment in the spot market turned cautious, the rhythm of steel strip transactions slowed down, the scrap industry was clever, manufacturers' receiving prices retreated from high levels, and the accelerated supply dragged down prices. At present, the rebound of stainless steel futures above 13000 is blocked, and the after-market still depends on the fundamental support of demand. (for reference only)
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