Metal Scrap Performance in China
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Metal scraps performances in Foshan market on June 11
2025-6-11
Copper: Today, the copper price in Foshan market is stable, and market transactions continue to be cautious. The weak dollar, internal and external destocking and low inventory pattern, domestic spot shortage and the uncertainty of whether to impose tariffs in the US 232 investigation are still favorable factors to promote bulls, while the U.S. government's vacillating tariff attitude and the resulting uncertainty of the global economic trend become the main bearish factors. At present, the copper market is intertwined with long and short positions, and the copper price may maintain a range fluctuation. After entering the traditional off-season in June, the demand for spot copper market continued to weaken, and copper manufacturers generally reported that orders were reduced. Therefore, the purchase was still based on demand, and market transactions continued to be weak. 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 rose in an all-round way, and SHFE aluminum remained strong above the 20000 mark. After entering June, the domestic aluminum price continues to fluctuate within a narrow range. Due to the pressure of weak off-season demand, market involution and reduced demand in the automobile industry, the aluminum price increase may be difficult to sustain, and the aluminum 20000 mark is still the key support level.
Zinc: Zinc stopped falling and stabilized. Some merchants intend to enter the market to replenish their stocks. Downstream manufacturers are still cautious in purchasing, and basically maintain on-demand purchasing. Zinc prices are weak, and fear of falling still hangs over the market, and overall market transactions are slightly improved. Low inventory and mine end disturbance support zinc price, weak demand suppresses rebound space, and SHFE zinc may have some upside space in the short term.
Stainless Steel: Stainless steel made matters worse, and steel mills adjusted the price limit liberalization strategy, which led to an increase in market involution. Under the linkage of futures and cash, futures fell below 12,500. As the market goes further down, the price of steel strip is trampled on, the scrap traders are pessimistic and bearish, the manufacturers' desire to operate is depressed, and the center of gravity of the transaction price continues to move down. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market rose in an all-round way, and SHFE aluminum remained strong above the 20000 mark. After entering June, the domestic aluminum price continues to fluctuate within a narrow range. Due to the pressure of weak off-season demand, market involution and reduced demand in the automobile industry, the aluminum price increase may be difficult to sustain, and the aluminum 20000 mark is still the key support level.
Zinc: Zinc stopped falling and stabilized. Some merchants intend to enter the market to replenish their stocks. Downstream manufacturers are still cautious in purchasing, and basically maintain on-demand purchasing. Zinc prices are weak, and fear of falling still hangs over the market, and overall market transactions are slightly improved. Low inventory and mine end disturbance support zinc price, weak demand suppresses rebound space, and SHFE zinc may have some upside space in the short term.
Stainless Steel: Stainless steel made matters worse, and steel mills adjusted the price limit liberalization strategy, which led to an increase in market involution. Under the linkage of futures and cash, futures fell below 12,500. As the market goes further down, the price of steel strip is trampled on, the scrap traders are pessimistic and bearish, the manufacturers' desire to operate is depressed, and the center of gravity of the transaction price continues to move down. (for reference only)
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