Metal Scrap Performance in China
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Metal scraps performances in Foshan market on June 10
2025-6-10
Copper: Today, the overall copper price in Foshan market rose slightly, and market transactions continued to be cautious. On June 10th, local time, the first meeting of China-US economic and trade consultation mechanism will continue. ANZ Bank said, "The obvious cooling of the trade brinkmanship policy has triggered optimism in the whole market. This will help offset people's concerns about the serious impact of trade wars on economic activities. " The copper inventory in LME registered warehouse decreased by 10,000 tons to 122,400 tons, indicating that the transfer to the United States has been continuing under the potential threat of US tariffs on copper imports. Macro-positive superimposed inventory continued to decline, SHFE copper opened higher, and the main contract rose to 79,470 yuan/ton. The traders are concerned about whether SHFE copper will sprint the 80,000 yuan mark again in the short term.
Aluminum: Today, the price of aluminum in Foshan market dropped slightly, SHFE aluminum continued to fluctuate weakly, and the 20,000 mark was still the support point in the near future. As time went into the off-season, the demand continued to weaken, which put pressure on the trend of aluminum. However, Sino-US trade relations eased under the initiative of the United States and contributed to the market mentality and price support, and funds would also be speculated at a short-term low level, with short-term aluminum fluctuating mainly.
Zinc: Short positions have significantly increased the price of zinc, and the fall of zinc price has aggravated the wait-and-see atmosphere in the market. Traders are more cautious in receiving goods during this period, and basically maintain low inventory operations. Most of them only make inquiries after receiving orders, and the market transactions are light.
Stainless Steel: SHFE nickel and stainless steel futures fell, coupled with the downward adjustment of spot products, the current market is full of falling prices. Affected by the downward adjustment of purchase prices led by large steel mills, merchants in the scrap industry have followed the price reduction operation, and the transaction price has further declined, showing no signs of stopping the decline. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market dropped slightly, SHFE aluminum continued to fluctuate weakly, and the 20,000 mark was still the support point in the near future. As time went into the off-season, the demand continued to weaken, which put pressure on the trend of aluminum. However, Sino-US trade relations eased under the initiative of the United States and contributed to the market mentality and price support, and funds would also be speculated at a short-term low level, with short-term aluminum fluctuating mainly.
Zinc: Short positions have significantly increased the price of zinc, and the fall of zinc price has aggravated the wait-and-see atmosphere in the market. Traders are more cautious in receiving goods during this period, and basically maintain low inventory operations. Most of them only make inquiries after receiving orders, and the market transactions are light.
Stainless Steel: SHFE nickel and stainless steel futures fell, coupled with the downward adjustment of spot products, the current market is full of falling prices. Affected by the downward adjustment of purchase prices led by large steel mills, merchants in the scrap industry have followed the price reduction operation, and the transaction price has further declined, showing no signs of stopping the decline. (for reference only)
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