Metal Scrap Performance in China
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Metal scraps performances in Foshan market on January 7
2025-1-7
Copper: The spot copper price in Foshan market continued to rally today, and the short-term trend fluctuated and the market anxiety eased. China promised to increase economic support, provide confidence support for the metal market, and ease the pressure brought by the strong dollar. However, in 2025, the international tariff trade war has resurfaced, the market caution has obviously warmed up, the domestic market is approaching the Chinese New Year holiday, and the domestic demand has gradually weakened. In addition, the impact of reverse invoices needs further observation, and copper manufacturers are still mainly purchasing on demand.
Aluminum: Today, the aluminum price in Foshan market fluctuated weakly, and the high alumina price callback suppressed the domestic aluminum price. With the deepening of consumption off-season, the start of aluminum processing continues to weaken, and the demand is obviously weakened. The amount of aluminum ingots in stock dropped, and the turning point of social stock came. The spot of alumina at the cost end began to fall, and the cost support weakened. As the Spring Festival is approaching, most enterprises choose to reduce production and recover payment. It is expected that the follow-up market will become lighter and the transaction will obviously weaken. Whether to prepare materials for the holiday needs to pay more attention to the international market.
Zinc: It is beneficial to digest zinc, and the shipments of traders are slowing down. The purchasing enthusiasm of downstream manufacturers is insufficient. Most manufacturers still maintain a cautious wait-and-see attitude, and purchase in small quantities with rigid demand. Most transactions are mainly between traders.
Stainless Steel: LME nickel keeps testing new lows in recent years, the rebound of stainless steel futures is weak, the spot market is slack, the price of steel strip has to drop gradually, the scrap transaction is suppressed by the strict procurement cost of steel mills, and the manufacturers in the industry generally concentrate on low-priced transactions, resulting in poor supply transactions. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market fluctuated weakly, and the high alumina price callback suppressed the domestic aluminum price. With the deepening of consumption off-season, the start of aluminum processing continues to weaken, and the demand is obviously weakened. The amount of aluminum ingots in stock dropped, and the turning point of social stock came. The spot of alumina at the cost end began to fall, and the cost support weakened. As the Spring Festival is approaching, most enterprises choose to reduce production and recover payment. It is expected that the follow-up market will become lighter and the transaction will obviously weaken. Whether to prepare materials for the holiday needs to pay more attention to the international market.
Zinc: It is beneficial to digest zinc, and the shipments of traders are slowing down. The purchasing enthusiasm of downstream manufacturers is insufficient. Most manufacturers still maintain a cautious wait-and-see attitude, and purchase in small quantities with rigid demand. Most transactions are mainly between traders.
Stainless Steel: LME nickel keeps testing new lows in recent years, the rebound of stainless steel futures is weak, the spot market is slack, the price of steel strip has to drop gradually, the scrap transaction is suppressed by the strict procurement cost of steel mills, and the manufacturers in the industry generally concentrate on low-priced transactions, resulting in poor supply transactions. (Analyzed by LTIT)
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