Metal Scrap Performance in China
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Metal scraps performances in Foshan market on January 3
2025-1-3
Copper: Today, spot copper price in Foshan market continued to drop slightly, and the market cautious mood warmed up. In 2025, the copper market started badly, and the main force of SHFE copper remained weak and fluctuated below 73,000 yuan. The US dollar index hit a three-year high, putting pressure on the metal market, and the market sentiment tends to be cautious. Market participants are waiting for more clues about the Fed's interest rate prospects and the US President-elect Trump's tariff policy. The expected increase in domestic copper stocks limits the rebound of copper prices. As the year is approaching, the market buying activity is low, the willingness of downstream suppliers to continue replenishment is not high, and the holders are unwilling to adjust prices easily, resulting in the premium being still at a relatively high level, and the market trading is in a stalemate. Copper factories and enterprises will also pay attention to the short-term impact of domestic reverse invoicing on recycled copper.
Aluminum: Today, the aluminum price in Foshan market is stable. SHFE aluminum was boosted by the low inventory and the narrowing of spot discount, and the short-term trend continued to be strong, once exceeding the 20,000 yuan mark in intraday trading. In addition, the market is also worried that the shortage of raw materials such as alumina may lead to insufficient supply of aluminum metal, and the market has good expectations for the continuous introduction of economic stimulus measures in the new year, and aluminum prices can still be expected.
Zinc: The US dollar index is soaring and the demand is worried about escalating. Today, the price of zinc in Foshan market has fallen sharply. Merchants are worried about the after-market and maintain a positive shipping mentality. There are not many downstream zinc manufacturers receiving goods. Most manufacturers think that the current zinc price is unstable and the trading atmosphere is light. The supply side is tight, the Spring Festival holiday is approaching, the downstream operating rate is decreasing, and SHFE zinc is expected to continue to decline.
Stainless Steel: The nickel market lacks hot spots, and the price keeps fluctuating. Stainless steel futures continued to fall, gradually moving away from the 13,000 mark, the spot price kept refreshing to a low level, 304 scrap stainless steel had broken the number "9", manufacturers' transactions gradually moved closer to low prices, and the supply of goods was not smooth. At present, the demand for waste stainless steel deviates from the price trend, with good demand but bad price. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market is stable. SHFE aluminum was boosted by the low inventory and the narrowing of spot discount, and the short-term trend continued to be strong, once exceeding the 20,000 yuan mark in intraday trading. In addition, the market is also worried that the shortage of raw materials such as alumina may lead to insufficient supply of aluminum metal, and the market has good expectations for the continuous introduction of economic stimulus measures in the new year, and aluminum prices can still be expected.
Zinc: The US dollar index is soaring and the demand is worried about escalating. Today, the price of zinc in Foshan market has fallen sharply. Merchants are worried about the after-market and maintain a positive shipping mentality. There are not many downstream zinc manufacturers receiving goods. Most manufacturers think that the current zinc price is unstable and the trading atmosphere is light. The supply side is tight, the Spring Festival holiday is approaching, the downstream operating rate is decreasing, and SHFE zinc is expected to continue to decline.
Stainless Steel: The nickel market lacks hot spots, and the price keeps fluctuating. Stainless steel futures continued to fall, gradually moving away from the 13,000 mark, the spot price kept refreshing to a low level, 304 scrap stainless steel had broken the number "9", manufacturers' transactions gradually moved closer to low prices, and the supply of goods was not smooth. At present, the demand for waste stainless steel deviates from the price trend, with good demand but bad price. (Analyzed by LTIT)
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