Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 28
2025-4-28
Copper: Today, the spot copper price in Foshan market fell slightly, and market transactions continued to be cautious. At present, the market's optimism about the easing of trade tensions has brought some comfort to investors, but the worries about the uncertainty of trade prospects are still lingering, and the overall copper price is in a wait-and-see state of range fluctuation. At present, the domestic copper scrap supply continues to be in short supply, and copper manufacturers and traders have turned to electrolytic copper procurement to accelerate the destocking of electrolytic copper. At present, the social inventory of electrolytic copper in China continues to drop sharply. Before the May 1 holiday, there may be a wave of pre-holiday material preparation boom, and consumption expectations continue to improve, which is expected to boost the short-term copper price volatility.
Aluminum: Today, the price of aluminum in Foshan market has turned down, and the cautious mood in the market has warmed up. In the short term, there is still pressure on the 20,000-yuan SHFE aluminum line. The main contract of SHFE aluminum fell after hitting a high of 20,040 yuan, and it is currently running weakly below 20,000 yuan. At present, the discount of aluminum sales in Guangdong market has increased, and most aluminum manufacturers purchase on demand or make up a small amount of positions. The traders are concerned about the demand of aluminum market under the trade war.
Zinc: tariff war continues to be disturbed, the price of zinc falls, and the market wait-and-see atmosphere is heavy. Middlemen carefully purchase goods according to orders, and the inventory basically maintains the current level of operation. Downstream manufacturers mostly wait-and-see to purchase, and their enthusiasm is not high, and the overall trading in the market is dull. Domestic zinc stocks remain at a low level, but the US tariff policy is vacillating, and it is expected that the recovery of zinc before the May Day holiday will be limited.
Stainless Steel: SHFE nickel followed the peripheral nickel price, and the stainless steel futures continued to decline. The spot market was snubbed at the weekend, the steel strip transaction was weak, and the scrap trading was continued to be purchased at a reduced price by the steel merchants' representatives. The risk aversion in the industry spread, and buyers followed the big households to lower the receiving price. In the short-term stainless steel market, the price may still have room to drop. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has turned down, and the cautious mood in the market has warmed up. In the short term, there is still pressure on the 20,000-yuan SHFE aluminum line. The main contract of SHFE aluminum fell after hitting a high of 20,040 yuan, and it is currently running weakly below 20,000 yuan. At present, the discount of aluminum sales in Guangdong market has increased, and most aluminum manufacturers purchase on demand or make up a small amount of positions. The traders are concerned about the demand of aluminum market under the trade war.
Zinc: tariff war continues to be disturbed, the price of zinc falls, and the market wait-and-see atmosphere is heavy. Middlemen carefully purchase goods according to orders, and the inventory basically maintains the current level of operation. Downstream manufacturers mostly wait-and-see to purchase, and their enthusiasm is not high, and the overall trading in the market is dull. Domestic zinc stocks remain at a low level, but the US tariff policy is vacillating, and it is expected that the recovery of zinc before the May Day holiday will be limited.
Stainless Steel: SHFE nickel followed the peripheral nickel price, and the stainless steel futures continued to decline. The spot market was snubbed at the weekend, the steel strip transaction was weak, and the scrap trading was continued to be purchased at a reduced price by the steel merchants' representatives. The risk aversion in the industry spread, and buyers followed the big households to lower the receiving price. In the short-term stainless steel market, the price may still have room to drop. (Analyzed by LTIT)
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