Metal Scrap Performance in China
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Metal scraps performances in Foshan market on June 3
2025-6-3
Copper: Today, the copper price in Foshan market is stable, because despite the weakening demand in the traditional off-season, the continuous shortage of supply in spot copper provides resilience support for the price. According to the news, Trump said that he would raise the tariff on imported steel and aluminum to 50%, and the market may raise the tariff on copper. On Monday, COMEX copper once rose more than 5% to 4.949 US dollars/pound, rising to the highest point in more than a month. However, on Tuesday, COMEX copper fell back to a high level, and LME copper remained in a narrow range above $9,500. The tariff policy may be clear in June, but the pressure of economic slowdown is gradually apparent, and the macro overall is empty. Due to the intensified spot tension in non-U.S. areas caused by U.S. copper tariff 232, there is pressure to squeeze positions in the short term, and the price fluctuates strongly, but it is potentially negative in the medium term and has great uncertainty.
Aluminum: Today, the price of aluminum in Foshan market dropped sharply, and SHFE aluminum fell below the 20,000 mark, which plunged the market sentiment. The United States announced that it would raise the tariff on imported steel and aluminum from 25% to 50% from June 4, which caused the trade tension to rise sharply, and the short-term profit of funds accelerated the decline of aluminum prices. However, the short-term aluminum market still has cost support, and it is expected that aluminum prices will still be dominated by shocks, with limited price fluctuations.
Zinc: The price of zinc continues to fluctuate, and the wait-and-see atmosphere in the market is heavy. Middlemen are cautious in purchasing goods according to orders. Downstream manufacturers are worried about the price of zinc in the after-market, mainly on the wait-and-see, and their purchasing enthusiasm is not high. Market transactions are mainly based on rigid demand.
Stainless Steel: Trump raised tariffs on steel products, and stainless steel futures resumed instability after the holiday. In the spot market, news came that mainstream steel mills lowered their product quotations. The current price linkage fell, which further suppressed the confidence in the scrap industry, and the desire to drop shipments soared, and the transaction price continued to drop. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market dropped sharply, and SHFE aluminum fell below the 20,000 mark, which plunged the market sentiment. The United States announced that it would raise the tariff on imported steel and aluminum from 25% to 50% from June 4, which caused the trade tension to rise sharply, and the short-term profit of funds accelerated the decline of aluminum prices. However, the short-term aluminum market still has cost support, and it is expected that aluminum prices will still be dominated by shocks, with limited price fluctuations.
Zinc: The price of zinc continues to fluctuate, and the wait-and-see atmosphere in the market is heavy. Middlemen are cautious in purchasing goods according to orders. Downstream manufacturers are worried about the price of zinc in the after-market, mainly on the wait-and-see, and their purchasing enthusiasm is not high. Market transactions are mainly based on rigid demand.
Stainless Steel: Trump raised tariffs on steel products, and stainless steel futures resumed instability after the holiday. In the spot market, news came that mainstream steel mills lowered their product quotations. The current price linkage fell, which further suppressed the confidence in the scrap industry, and the desire to drop shipments soared, and the transaction price continued to drop. (for reference only)
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