Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 21
2025-5-21
Copper: Today, the copper price in Foshan market continues to rise slightly, and the trading sentiment in the market continues to be cautious. The domestic data released in April was soft, and the state introduced measures to cut interest rates and loan interest rates to increase market liquidity to boost the economy and benefit metal prices. At present, it has entered the off-season of seasonal demand, and the downstream demand of domestic copper has shown a certain decline. Domestic stocks have accumulated during the week, and domestic bearish sentiment has risen, making purchases more cautious. At present, the profit-making mentality of cargo holders is strong, the premium of electrolytic copper is narrowed, and the short-term copper price may continue to fluctuate. At present, LME copper is also in an oscillating wait-and-see state, and it is expected that in the short term, in the subsequent off-season and under the uncertain global environment, the copper interval will wait and see, and $9,500 will still become an upward pressure.
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and market transactions continued to be cautious. Fed officials made more cautious remarks about the economy. The US dollar index fell for two consecutive days, and the bottom of aluminum prices was supported. The surge in fundamental aluminum prices triggered downstream consumption to wait and see, and aluminum ingot stocks began to accumulate a small amount. The subsequent seasonal off-season came, and the accumulated stocks were expected to rise, which put great pressure on high aluminum prices.
Zinc: The falling dollar pushed up the price of zinc, and more merchants entered the market. The supply of goods was tightened, and traders raised their prices to improve their shipments. Downstream manufacturers maintained a more cautious attitude. Some manufacturers with rigid demand were more active in purchasing, and spot transactions increased. The destocking of LME and SHFE is accelerated, and the consumption demand slows down in the off-season. It is expected that the zinc price will continue to rise in the short term, and the increase in zinc price in the medium term is limited.
Stainless Steel: The geopolitical tension triggered risk aversion, boosted the rise of gold and metals, and stainless steel futures stopped falling and rose, but the spot market demand was weak, scrap manufacturers were not actively purchasing, and the bargaining between the two parties was deadlocked. With the recent weakening of the market, the market has a strong wait-and-see mood, generally buying at low prices and rigid demand, and the overall trading activity is limited. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and market transactions continued to be cautious. Fed officials made more cautious remarks about the economy. The US dollar index fell for two consecutive days, and the bottom of aluminum prices was supported. The surge in fundamental aluminum prices triggered downstream consumption to wait and see, and aluminum ingot stocks began to accumulate a small amount. The subsequent seasonal off-season came, and the accumulated stocks were expected to rise, which put great pressure on high aluminum prices.
Zinc: The falling dollar pushed up the price of zinc, and more merchants entered the market. The supply of goods was tightened, and traders raised their prices to improve their shipments. Downstream manufacturers maintained a more cautious attitude. Some manufacturers with rigid demand were more active in purchasing, and spot transactions increased. The destocking of LME and SHFE is accelerated, and the consumption demand slows down in the off-season. It is expected that the zinc price will continue to rise in the short term, and the increase in zinc price in the medium term is limited.
Stainless Steel: The geopolitical tension triggered risk aversion, boosted the rise of gold and metals, and stainless steel futures stopped falling and rose, but the spot market demand was weak, scrap manufacturers were not actively purchasing, and the bargaining between the two parties was deadlocked. With the recent weakening of the market, the market has a strong wait-and-see mood, generally buying at low prices and rigid demand, and the overall trading activity is limited. (for reference only)
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