Metal Scrap Performance in China
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Metal scraps performances in Foshan market on June 9
2025-6-9
Copper: Today, the copper price in Foshan market is stable, and market transactions continue to be cautious. On the macro level, the short-term is still in a stalemate, and the US dollar index is generally weak, so we should be wary of speculating on the expectation that the United States will impose tariffs on copper again. Fundamentally, it is difficult to alleviate the tight supply of global copper mines, and the processing fees are hovering at a low level. China's imports increased significantly in the first four months. The domestic refined copper output has not decreased, and it is expected that the tension at the ore end will be transmitted to the smelting end after June. Domestic stocks are on the low side, and spot premium has fallen. LME copper registered warehouse receipts declined rapidly, paying attention to the short-term risk of crowding positions. In the off-season, new orders are weak. Generally speaking, short-term copper prices may continue to be dominated by shocks under the expectation of repeated market sentiment, tight supply and weak demand.
Aluminum: The price of aluminum in Foshan market has not changed much today. SHFE aluminum continues to fluctuate within a narrow range above the 20,000 mark, and trading continues to be cautious. With the deepening of the off-season, the terminal market generally weakened, and the US tariff policy was unfavorable to the export of aluminum products. With the decline of new orders, the operating rate of domestic aluminum processing enterprises tends to decline. Short-term supply of aluminum ingots is stable, storage is slowed down, and aluminum prices are under seasonal pressure.
Zinc: The price of zinc remained volatile, traders lowered the premium to promote the exchange, the downstream was afraid of heights, and the purchase was still cautious, basically maintaining on-demand procurement. Zinc did not show a trend, and the fear of falling still enveloped the market, and the overall market transaction was average. Low inventory and mine end disturbance support zinc price, and weak demand suppresses the rebound space. It is expected that it will continue to fluctuate in the after-market.
Stainless Steel: At the beginning of this week, the weakness of stainless steel futures dropped to a recent low. The spot market has a strong off-season, and it is difficult to recover the transaction by taking the initiative to make profits from steel belts. The center of gravity of scrap trading is constantly moving down, and the traders are generally cautious and wait-and-see. The manufacturers are not willing to operate, and the market as a whole continues to run weakly. It is difficult to see the momentum of turning around in the short term. (for reference only)
Aluminum: The price of aluminum in Foshan market has not changed much today. SHFE aluminum continues to fluctuate within a narrow range above the 20,000 mark, and trading continues to be cautious. With the deepening of the off-season, the terminal market generally weakened, and the US tariff policy was unfavorable to the export of aluminum products. With the decline of new orders, the operating rate of domestic aluminum processing enterprises tends to decline. Short-term supply of aluminum ingots is stable, storage is slowed down, and aluminum prices are under seasonal pressure.
Zinc: The price of zinc remained volatile, traders lowered the premium to promote the exchange, the downstream was afraid of heights, and the purchase was still cautious, basically maintaining on-demand procurement. Zinc did not show a trend, and the fear of falling still enveloped the market, and the overall market transaction was average. Low inventory and mine end disturbance support zinc price, and weak demand suppresses the rebound space. It is expected that it will continue to fluctuate in the after-market.
Stainless Steel: At the beginning of this week, the weakness of stainless steel futures dropped to a recent low. The spot market has a strong off-season, and it is difficult to recover the transaction by taking the initiative to make profits from steel belts. The center of gravity of scrap trading is constantly moving down, and the traders are generally cautious and wait-and-see. The manufacturers are not willing to operate, and the market as a whole continues to run weakly. It is difficult to see the momentum of turning around in the short term. (for reference only)
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