Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 7
2025-3-6
Copper: Spot copper prices in Foshan market rose sharply across the board today, and trading continued to be cautious. Trump's copper import tariff policy threatened to escalate, and the US dollar index fell. Us copper futures surged 5% overnight, while LME copper rose 2.2%, the biggest one-day gain in four months. This morning, LME copper continued to rise, jumping above $9,600, stimulating the main contract of SHFE copper to rise by 1,300 yuan/ton, driving the spot copper price to rise in an all-round way. According to the analysis, although the demand-side concerns caused by the escalation of short-term trade disputes have intensified, there is the possibility of tariff exemption, and the expectation that the United States will impose tariffs on copper will increase the risk of market volatility. The downward trend of copper processing fees has not stopped, and the copper price is strongly supported. As for the price increase, traders should pay attention to the demand and inventory changes.
Aluminum: The price of aluminum in Foshan market rose sharply today, mainly driven by the sudden pull of aluminum. In the morning, the main contract of SHFE aluminum rose by 1.5%, approaching the 21,000 yuan mark, and the funds waited for the two sessions to release more bullish news. However, the current aluminum market is relatively cautious, and aluminum manufacturers are still mainly purchasing on demand, because the demand in the aluminum market has not been fully liberalized. In the short term, traders should continue to pay attention to the impact of tariffs.
Zinc: The release of the two sessions is beneficial to the rebound of zinc price, and the wait-and-see atmosphere in the market is revived. Traders are more cautious in receiving goods, and basically maintain low inventory operations. They only make inquiries after receiving orders. Downstream manufacturers are worried about the zinc price in the after-market, and they mainly wait and see, purchasing in small quantities with rigid demand, and market transactions are dull.
Stainless Steel: The rising price of nickel boosted the rising trend of stainless steel, and the futures market continued to pick up as expected. The spot market accepted the enthusiasm of rising, and the transaction price of waste stainless steel was by going up one flight of stairs, and the whole line of 304 new materials exceeded 10,000. At present, both the supply and demand of waste stainless steel and the cost factors are conducive to the development of the market. (Analyzed by LTIT)
Aluminum: The price of aluminum in Foshan market rose sharply today, mainly driven by the sudden pull of aluminum. In the morning, the main contract of SHFE aluminum rose by 1.5%, approaching the 21,000 yuan mark, and the funds waited for the two sessions to release more bullish news. However, the current aluminum market is relatively cautious, and aluminum manufacturers are still mainly purchasing on demand, because the demand in the aluminum market has not been fully liberalized. In the short term, traders should continue to pay attention to the impact of tariffs.
Zinc: The release of the two sessions is beneficial to the rebound of zinc price, and the wait-and-see atmosphere in the market is revived. Traders are more cautious in receiving goods, and basically maintain low inventory operations. They only make inquiries after receiving orders. Downstream manufacturers are worried about the zinc price in the after-market, and they mainly wait and see, purchasing in small quantities with rigid demand, and market transactions are dull.
Stainless Steel: The rising price of nickel boosted the rising trend of stainless steel, and the futures market continued to pick up as expected. The spot market accepted the enthusiasm of rising, and the transaction price of waste stainless steel was by going up one flight of stairs, and the whole line of 304 new materials exceeded 10,000. At present, both the supply and demand of waste stainless steel and the cost factors are conducive to the development of the market. (Analyzed by LTIT)
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