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| Metal scraps performances in Foshan market on May 8 |
| 2025-5-8 |
Copper: Today, the copper price in Foshan market has not changed much, and the trading mood in the market continues to be cautious. After mid-April, the peak consumption season stimulated the domestic copper inventory to be obviously depleted, and SHFE copper also ushered in a rebound market. Recently, the upward momentum of SHFE copper has weakened, and the futures price of the main contract hovers around 78,000 yuan/ton. The Federal Reserve's May meeting on interest rates has a high probability of keeping interest rates unchanged. At the same time, tariff war, China and the United States took a major turning point and entered a new stage of "negotiating while fighting", but the probability of reaching an agreement in the short term is not great. In May, the overall growth rate of domestic copper consumption will slow down, with copper manufacturers mainly purchasing on demand, and the pace of copper inventory going to the warehouse will slow down. Generally speaking, under the background of stagflation expectation and tariff trade uncertainty in the United States, the upside of SHFE copper should not be overestimated.
Aluminum: Today, the price of aluminum in Foshan market stopped falling and stabilized, and the trading sentiment in the market continued to be cautious. Domestic RRR cuts and interest rate cuts have released a clear signal of "moderate easing" to "stabilize growth and stabilize the market" at critical moments. The Federal Reserve kept interest rates unchanged as scheduled, but after the meeting, Powell made a hawkish speech and aluminum prices were under pressure. It is expected that the short-term aluminum price fluctuation range will move down to around 19500.
Zinc: The price of zinc has dropped more and rose less in recent days, and the wait-and-see atmosphere in the market remains unchanged. Traders' cautious mentality continues, basically maintaining the operation of selling and buying now. Downstream manufacturers are worried about the price of zinc in the after-market, mostly waiting and seeing, with low purchasing enthusiasm and general market transactions.
Stainless Steel: Stainless steel futures have been rising for several days, and the volume of steel strip transactions in the spot market has gradually increased, but the price increase transaction is slow. Therefore, the steel mills have a weak desire to purchase scrap at a high price, and the manufacturers in the industry have converged in price pursuit and generally maintained stable price transactions. (for reference only)
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2025-6-30
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Item |
SHFE |
Change |
Cu |
81550 |
-19264 |
Al |
94290 |
-10194 |
Zn |
43633 |
+769 |
Item |
LME |
Change |
Cu |
90625 |
-650 |
Al |
345750 |
+550 |
Zn |
117475 |
-1750 |
Ni |
204006 |
-288 |
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2023-5-15 |
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1 USD= |
6.7021 |
Inverse: |
0.14921 |
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1 EUR= |
7.8800 |
Inverse: |
0.12690 |
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1 GBP= |
8.6373 |
Inverse: |
0.11578 |
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1 AUD= |
5.2589 |
Inverse: |
0.19015 |
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