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| Metal scraps performances in Foshan market on June 25 |
| 2025-6-25 |
Copper: Today, the copper price in Foshan market rose slightly, and the short-term fluctuation pattern of copper price range was remarkable. After US President Trump announced the Iran-Israel ceasefire, market caution still prevailed. In addition, the uncertainty of the pace of interest rate cuts by the Federal Reserve has suppressed commodity sentiment to some extent, and the traders expect short-term copper prices to fluctuate within a certain range. There are signs that the LME copper market is experiencing one of the largest crowding positions in history: the spot copper price was once $280/ton higher than the three-month futures price on Monday, setting the biggest price difference since the record surge in 2021, indicating a shortage of supply. Since mid-February, the copper inventory of LME registered warehouse has decreased by 65% to 94,675 tons, the lowest since August 2023.
Aluminum: Today, the aluminum price in Foshan market is stable, and the decline is beginning to show signs of easing, which has eased the market anxiety to some extent. At present, the arrival of aluminum in the current market has increased, and the pressure of accumulated stocks has increased. The goods holders are actively shipping, but the downstream aluminum manufacturers are cautious in receiving goods and wait and see, fearing that there is still room for aluminum prices to fall in the short term, and the spot premium has weakened slightly. The short-term 20,000 mark is still supported.
Zinc: In recent days, SHFE zinc has risen slightly, and the spot zinc price is hovering at a low level. The cautious mentality has shrouded the market, which has affected the purchasing mentality of traders and manufacturers to a certain extent. Most merchants in the market are in a wait-and-see state, and most of them are mainly based on inquiry, and the transaction is dull. The game between low zinc inventory and weak demand, focusing on Powell's testimony in Congress, is expected to maintain a weak shock pattern in the after-market.
Stainless Steel: Tsingshan Steel Plant plans to reduce production by more than 250,000 tons, and the news boosts the market. With the horn of "reducing production and protecting price" ringing, stainless steel futures rebounded immediately, but spot trading remained cautious and wait-and-see. The reduction of production in steel mills would lead to a decline in demand for raw materials, and the prices of ferronickel and ferrochromium would be under pressure, making it difficult for scrap to be immune to it. (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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