Metal Scrap Performance in China
Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on December 30
2024-12-30
Copper: The spot copper price in Foshan market fell slightly today, and market trading continued to be cautious. Recently, under the influence of multiple factors, copper prices have shown a trend of low volatility. At the end of the year, the downstream enterprises were affected by the return funds, the market transaction activity weakened, and the downstream consumption was relatively low. In addition, the demand for replenishment at the end of the year is relatively low, and there is a certain demand for funds, which leads to relatively poor enthusiasm for buying goods. This market sentiment is directly reflected in the trend of copper prices, which makes copper prices face greater downward pressure. Entering the new cycle of 2025, opportunities and risks coexist in the copper market. Price correction and low inventory are helpful for preparing materials before annual leave. In the short term, we will continue to pay attention to the support of LME copper of 9000 US dollars.
Aluminum: The aluminum price in Foshan market fluctuated weakly today. Near the end of the month, the atmosphere of the New Year holiday in the market is getting stronger and stronger. At present, aluminum trading is cold, and factories have begun to prepare for holidays, so they will be more cautious about purchasing raw materials. In addition, due to the cancellation of the export tax rebate policy, the number of orders received by the factory decreased significantly. Weakening demand puts pressure on aluminum prices.
Zinc: The price of zinc fluctuates slowly, and the traders' shipping mentality is more positive. The downstream manufacturers' purchasing enthusiasm is obviously insufficient. Most manufacturers still maintain a cautious wait-and-see attitude and purchase in small quantities with rigid demand. Most of the transactions are mainly between traders. The supply side is tight, the macro-sentiment and policy support for zinc price is weakened, and zinc is expected to fluctuate within the range of 24,800 ~ 25,800 in the short term.
Stainless Steel: The fundamental pattern of nickel market remains unchanged, and the upper space can't be opened, so a certain of range is maintained. Stainless steel futures continued to fluctuate within a narrow range. Near the end of the year, the spot market demand was weak, the overall confidence was low, and supply and demand gradually weakened. The scrap traders are generally cautious and wait-and-see, manufacturers are not active in purchasing, and transaction bargaining remains low. (Analyzed by LTIT)
Aluminum: The aluminum price in Foshan market fluctuated weakly today. Near the end of the month, the atmosphere of the New Year holiday in the market is getting stronger and stronger. At present, aluminum trading is cold, and factories have begun to prepare for holidays, so they will be more cautious about purchasing raw materials. In addition, due to the cancellation of the export tax rebate policy, the number of orders received by the factory decreased significantly. Weakening demand puts pressure on aluminum prices.
Zinc: The price of zinc fluctuates slowly, and the traders' shipping mentality is more positive. The downstream manufacturers' purchasing enthusiasm is obviously insufficient. Most manufacturers still maintain a cautious wait-and-see attitude and purchase in small quantities with rigid demand. Most of the transactions are mainly between traders. The supply side is tight, the macro-sentiment and policy support for zinc price is weakened, and zinc is expected to fluctuate within the range of 24,800 ~ 25,800 in the short term.
Stainless Steel: The fundamental pattern of nickel market remains unchanged, and the upper space can't be opened, so a certain of range is maintained. Stainless steel futures continued to fluctuate within a narrow range. Near the end of the year, the spot market demand was weak, the overall confidence was low, and supply and demand gradually weakened. The scrap traders are generally cautious and wait-and-see, manufacturers are not active in purchasing, and transaction bargaining remains low. (Analyzed by LTIT)
WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free!
