Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 23
2025-4-23
Copper: Today, the spot copper price in Foshan market continues to rise in an all-round way, and market transactions continue to be cautious. An accident occurred at Tahmina copper mine in Peru, one of the largest copper mines in the world, and the operation manager was killed. At present, the mine has started a comprehensive shutdown to ensure safety and is investigating the accident. In the context of tight raw materials, copper prices may continue to increase in the short term. However, the renewed strength of the US dollar index has put pressure on metal prices and narrowed the gains. According to the analysis, the short-term strong reality continues, and the mine production is disturbed, and the short-term price may still be strong, but in the medium and long term, traders still need to pay attention to the tariff negotiation. In the future, the global economy and copper consumption will be potentially dragged down, and the short-term copper price may fluctuate continuously.
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the rebound of US dollar suppressed the rebound space of aluminum price. The inventory of aluminum ingots continued to decline to the low level in the same period in recent years, and the demand for stocking and grabbing exports accelerated before the superposition. The trend of aluminum prices is still optimistic. However, at the end of the "Golden March and Silver April" peak season, the impact of US tariffs is superimposed, and some enterprises' export orders are under pressure. It is expected that there will be limited room for short-term aluminum price rebound.
Zinc: Trump's new remarks pushed up the price of zinc, and the uncertainty of the news led to the market's doubts about the continued rise in the after-market. Middlemen and traders were still worried about the trend of the zinc market behind them, and a large number of purchases were still small. Traders kept their enthusiasm for shipping, and the purchasing intention of zinc manufacturers was weak. Most of them maintained on-demand procurement, and market transactions changed little compared with yesterday.
Stainless Steel: The macro news is good. Stainless steel futures rallied with the bull market, but the cautious mood in the spot market has not been lifted. The transaction price of steel strip has been loosened, and the production profit of steel mills has been continuously compressed, and the purchasing waste has been greatly reduced, while the transaction price has been suppressed. At present, the shortage of goods and the suppression of prices coexist, and generally tend to be low-priced transactions. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the rebound of US dollar suppressed the rebound space of aluminum price. The inventory of aluminum ingots continued to decline to the low level in the same period in recent years, and the demand for stocking and grabbing exports accelerated before the superposition. The trend of aluminum prices is still optimistic. However, at the end of the "Golden March and Silver April" peak season, the impact of US tariffs is superimposed, and some enterprises' export orders are under pressure. It is expected that there will be limited room for short-term aluminum price rebound.
Zinc: Trump's new remarks pushed up the price of zinc, and the uncertainty of the news led to the market's doubts about the continued rise in the after-market. Middlemen and traders were still worried about the trend of the zinc market behind them, and a large number of purchases were still small. Traders kept their enthusiasm for shipping, and the purchasing intention of zinc manufacturers was weak. Most of them maintained on-demand procurement, and market transactions changed little compared with yesterday.
Stainless Steel: The macro news is good. Stainless steel futures rallied with the bull market, but the cautious mood in the spot market has not been lifted. The transaction price of steel strip has been loosened, and the production profit of steel mills has been continuously compressed, and the purchasing waste has been greatly reduced, while the transaction price has been suppressed. At present, the shortage of goods and the suppression of prices coexist, and generally tend to be low-priced transactions. (Analyzed by LTIT)
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