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| Metal scraps performances in Foshan market on May 22 |
| 2025-5-22 |
Copper: Today, the copper price in Foshan market fell slightly, and the trading sentiment in the market continued to be cautious. At present, the weak US dollar index supports the copper price, but the rise is limited, because the uncertainty of the impact of high US tariffs on economic growth continues. The US-China trade agreement may have eased some concerns about the impact of high tariffs on the world's two largest economies. However, uncertainty still exists, because the current agreement will expire in 90 days, and the tariff on China goods is still as high as 30%. The Fed has yet to make concessions on the issue of interest rate cuts. Powell has been reluctant to cut interest rates since last year. If the Fed cuts interest rates, it will further put pressure on the US dollar and may pull it back below the current range, which may prevent copper prices from falling further.
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and market transactions continued to be cautious. Guinea decided to designate a number of mining rights certificates involving bauxite as strategic reserve areas, which made alumina futures soar, and the production cost of aluminum ingots also rose, providing power for the aluminum market with weak demand. SHFE aluminum futures formed a good support at the 20,000 yuan mark.
Zinc: The trend of zinc is weak. Market fear reappears, merchants mostly wait and see, purchasing enthusiasm declines, digesting inventory, holding firm prices, stalemate between the two sides, and overall market transactions are average.
Stainless Steel: Stainless steel futures stopped falling and rose, but it was still difficult to recover the depressed spot market confidence. The price of steel strip was lowered one after another, manufacturers carefully controlled the cost of purchasing waste, and the funds in the waste industry were relatively tight, which seriously restricted the turnover of goods, temporarily forming a situation of less goods and relatively high prices. (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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