Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 26
2025-5-26
Copper: Today, the copper price in Foshan market rose slightly, lacking external market guidance, and the market trading performance was cautious. At present, the fluctuation pattern of copper futures range is obvious, and the direction is still unclear. Overseas trade negotiations are repeated. Recently, the safe-haven property of precious metals has improved, and the US dollar index has been falling for a month, which has given some support to copper prices. From the industrial point of view, the supply of copper raw materials remains tight. The short-term disturbance of overseas copper supply and the tightening of domestic recycled raw materials supply have aggravated the market tension. The relative rise of superimposed copper in the United States may drive the short-term upward trend of copper prices, and the high position of futures in recent months may further promote the monthly spread. In the medium term, traders should pay attention to the risk of economic weakness and its impact on the market in the context of repeated trade situations.
Aluminum: Today, the price of aluminum in Foshan market is stable, and SHFE aluminum fluctuates in the range of 20000-20500. 2.8w of aluminum ingots went to the warehouse within a week, which exceeded expectations. Looking back, the actual consumption in May and June is still expected to weaken obviously, and aluminum ingots are expected to maintain the pace of going to the warehouse, but the range may be narrowed. The traders expect that the aluminum price in the after-market will still maintain a range fluctuation, with the support below the 20,000 yuan mark.
Zinc: The price of zinc fluctuated and consolidated, the supply of goods was tight, and the asking price of smelters and cargo holders was firm. When the price of zinc fell, traders replenished goods on dips, and the trading activity increased. The downstream manufacturers maintained the operation of purchasing on demand, and the overall market transactions increased slightly. The trade tariff situation continues to be disturbed, and the zinc price has strong resilience under the background of low inventory, and the future price center of gravity may move down slightly.
Stainless Steel: The performance of stainless steel futures was weak at the beginning of this week, and it was still running below 13,000. The spot market gradually approached the end of the month, and the transaction tended to be cautious and wait-and-see. The scrap manufacturers received the goods stably, and the holders were reluctant to sell, and the overall transaction was quiet. The demand side is dominated by rigid demand procurement, and the oversupply situation is difficult to reverse. It is expected that stainless steel will continue to oscillate. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market is stable, and SHFE aluminum fluctuates in the range of 20000-20500. 2.8w of aluminum ingots went to the warehouse within a week, which exceeded expectations. Looking back, the actual consumption in May and June is still expected to weaken obviously, and aluminum ingots are expected to maintain the pace of going to the warehouse, but the range may be narrowed. The traders expect that the aluminum price in the after-market will still maintain a range fluctuation, with the support below the 20,000 yuan mark.
Zinc: The price of zinc fluctuated and consolidated, the supply of goods was tight, and the asking price of smelters and cargo holders was firm. When the price of zinc fell, traders replenished goods on dips, and the trading activity increased. The downstream manufacturers maintained the operation of purchasing on demand, and the overall market transactions increased slightly. The trade tariff situation continues to be disturbed, and the zinc price has strong resilience under the background of low inventory, and the future price center of gravity may move down slightly.
Stainless Steel: The performance of stainless steel futures was weak at the beginning of this week, and it was still running below 13,000. The spot market gradually approached the end of the month, and the transaction tended to be cautious and wait-and-see. The scrap manufacturers received the goods stably, and the holders were reluctant to sell, and the overall transaction was quiet. The demand side is dominated by rigid demand procurement, and the oversupply situation is difficult to reverse. It is expected that stainless steel will continue to oscillate. (for reference only)
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