Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 14
2025-5-14
Copper: Today, the copper price in Foshan market rose across the board, and the trading mood in the market turned optimistic. Due to the trade agreement reached between China and the United States, China's copper stocks have been greatly reduced, and the weak US dollar has supported the copper futures to continue to fluctuate strongly. At present, LME copper has remained in a narrow range below 9600 US dollars, while SHFE copper's main contract has remained above 78500 yuan. However, market caution still exists, which has limited the increase of copper prices to some extent. At present, entering the off-season of seasonal demand, the market is relatively cautious in chasing up, and it is still mostly on-demand procurement, which greatly narrows the premium of electrolytic copper, and even slightly discounts the level copper. On the whole, basically, the copper price has strong support, and it is expected to maintain a strong operation in the short term, paying attention to the progress of the Sino-US trade situation.
Aluminum: Today, the price of aluminum in Foshan market has further risen sharply, and the market transactions have improved. China and the United States reduced tariffs and the dollar fell, which continued to benefit aluminum prices. LME aluminum staged a "five-day continuous rise" and SHFE aluminum rose sharply, driving the spot aluminum price to continue to rise. However, due to the seasonal off-season, factories and enterprises are cautious in purchasing goods, traders are eager to make profits, and the discount rate of aluminum is increasing.
Zinc: The adjustment of tariff rate imposed on the United States and Canada is beneficial to the market. The higher monthly difference of SHFE zinc limits the spot increase. Traders' shipping mentality is relatively positive, and the bidding price is generally slack. Downstream manufacturers are afraid of falling, and most of them are cautious in purchasing goods on demand. In the case of weak market transactions, it also drags down traders' enthusiasm for receiving goods to some extent.
Stainless Steel: Tariff adjustment between China and the United States has gradually eliminated the impact on stainless steel exports. The macro-benefits continued to be released, boosting market confidence. Stainless steel futures rose to 13,000, and the spot market followed the rising atmosphere. Steel belts broke the calm and then made efforts to raise prices. The bullish sentiment in the scrap industry made the supply more tense, and manufacturers increased their prices to grab goods. The overall market continued to rise. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market has further risen sharply, and the market transactions have improved. China and the United States reduced tariffs and the dollar fell, which continued to benefit aluminum prices. LME aluminum staged a "five-day continuous rise" and SHFE aluminum rose sharply, driving the spot aluminum price to continue to rise. However, due to the seasonal off-season, factories and enterprises are cautious in purchasing goods, traders are eager to make profits, and the discount rate of aluminum is increasing.
Zinc: The adjustment of tariff rate imposed on the United States and Canada is beneficial to the market. The higher monthly difference of SHFE zinc limits the spot increase. Traders' shipping mentality is relatively positive, and the bidding price is generally slack. Downstream manufacturers are afraid of falling, and most of them are cautious in purchasing goods on demand. In the case of weak market transactions, it also drags down traders' enthusiasm for receiving goods to some extent.
Stainless Steel: Tariff adjustment between China and the United States has gradually eliminated the impact on stainless steel exports. The macro-benefits continued to be released, boosting market confidence. Stainless steel futures rose to 13,000, and the spot market followed the rising atmosphere. Steel belts broke the calm and then made efforts to raise prices. The bullish sentiment in the scrap industry made the supply more tense, and manufacturers increased their prices to grab goods. The overall market continued to rise. (for reference only)
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