Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 19
2025-5-19
Copper: Today, the copper price in Foshan market continues to fall, and the market trading sentiment continues to be cautious. With the unexpected progress in Sino-US trade negotiations, the market sentiment once rose, but with the focus of the market returning to the US debt problem again, especially Moody's downgrade of the US sovereign credit rating, copper prices once again came under pressure and weakened. In addition, domestic copper downstream demand showed a certain decline, domestic stocks accumulated during the week, and domestic bearish sentiment rose. At present, when the seasonal demand is in the off-season, copper manufacturers continue to be cautious in purchasing, and they mainly purchase on demand. Traders' worries about tariffs are still lingering. The analysis predicts that if the financial market sentiment eases, it is expected to push the copper price to maintain a high and strong trend, otherwise the copper price may fall into a downward trend again.
Aluminum: Today, the price of aluminum in Foshan market has not changed much, and market transactions continue to be cautious. The Guinean government recently revoked the mining license on a large scale, and alumina futures rose violently, reaching a maximum of 3,149 yuan. The traders expect that the increase in production costs will bring bottom support to aluminum prices. However, the off-season effect still puts pressure on short-term aluminum prices, and it remains to be seen whether the subsequent aluminum prices can turn over in the off-season.
Zinc: Today, the price of zinc has dropped, and traders are more cautious in receiving goods. Most of them make inquiries only after receiving orders. Downstream manufacturers are also worried about the after-market, and they mainly wait and see, and their purchasing enthusiasm is not high. The overall market transaction is average. The decline of internal and external stocks has supported the spot of zinc, and the import window has opened up low-priced sources of goods or impacted the market, and zinc has been adjusted back or continued in the short term.
Stainless Steel: The price of nickel fluctuated and was weak. Stainless steel futures struggled at the 13,000 mark. The spot market was on the sidelines, and the steel strip began to loosen and test. Scrap manufacturers generally lowered the purchase price due to the situation, and the overall transaction was not active. At present, the market demand is slow to follow up, stainless steel still needs more favorable policies, and the market readiness adjustment needs to break out again. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market has not changed much, and market transactions continue to be cautious. The Guinean government recently revoked the mining license on a large scale, and alumina futures rose violently, reaching a maximum of 3,149 yuan. The traders expect that the increase in production costs will bring bottom support to aluminum prices. However, the off-season effect still puts pressure on short-term aluminum prices, and it remains to be seen whether the subsequent aluminum prices can turn over in the off-season.
Zinc: Today, the price of zinc has dropped, and traders are more cautious in receiving goods. Most of them make inquiries only after receiving orders. Downstream manufacturers are also worried about the after-market, and they mainly wait and see, and their purchasing enthusiasm is not high. The overall market transaction is average. The decline of internal and external stocks has supported the spot of zinc, and the import window has opened up low-priced sources of goods or impacted the market, and zinc has been adjusted back or continued in the short term.
Stainless Steel: The price of nickel fluctuated and was weak. Stainless steel futures struggled at the 13,000 mark. The spot market was on the sidelines, and the steel strip began to loosen and test. Scrap manufacturers generally lowered the purchase price due to the situation, and the overall transaction was not active. At present, the market demand is slow to follow up, stainless steel still needs more favorable policies, and the market readiness adjustment needs to break out again. (for reference only)
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