Metal Scrap Performance in China
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Metal scraps performances in Foshan market on June 12
2025-6-12
Copper: Today, the copper price in Foshan market dropped slightly, and the market trading continued to be cautious. The CPI in the United States was unpopular across the board, and traders increased their bets on the Fed's interest rate cut in September. The gold dollar staged a totally different situation, and the copper futures fell under pressure. At present, LME copper remained in a narrow range below $9,700, while SHFE copper fell below 79,000 yuan. In the after-market, both demand and supply of electrolytic copper showed a double growth trend, but it was expected to slow down in June. The tight copper mine still supported the price, and there was no obvious unilateral driving factor at both ends of short-term supply and demand. The results of trade negotiations between the United States and many countries have not yet been finalized, and uncertainty still exists. The global monetary policy remains loose, which provides some support for copper prices, which may fluctuate in a certain range.
Aluminum: Today, the price of aluminum in Foshan market has risen sharply, and the market sentiment is improving. The funds are speculating on the metal wheel flip, and aluminum attracts funds to chase at the low position. SHFE aluminum has soared in recent days, with the main contract reaching a maximum of 20,450 yuan/ton, a two-month high. However, the current aluminum market is subject to the weakening demand in the off-season, and the competition in the industry is fierce. The aluminum price increase may be unsustainable, and the range fluctuates or the main tone.
Zinc: The price of zinc fluctuated within a narrow range, and traders' shipping mentality dominated. The purchasing enthusiasm of downstream manufacturers was obviously insufficient, and most manufacturers remained cautious and wait-and-see. During this period, most of the transactions were mainly between traders, and the market transactions did not change much.
Stainless Steel: Stainless steel futures rebounded slowly from the low level, the spot market did not have the intention to follow up, the raw material side continued to show a downward trend, and the nickel price fluctuated downward, which still suppressed the trading confidence. The manufacturers in the waste industry maintained the risk-averse thinking of receiving goods at low prices, and the buyers and sellers were not active in operation, and the circulation of goods was less. (for reference only)
Aluminum: Today, the price of aluminum in Foshan market has risen sharply, and the market sentiment is improving. The funds are speculating on the metal wheel flip, and aluminum attracts funds to chase at the low position. SHFE aluminum has soared in recent days, with the main contract reaching a maximum of 20,450 yuan/ton, a two-month high. However, the current aluminum market is subject to the weakening demand in the off-season, and the competition in the industry is fierce. The aluminum price increase may be unsustainable, and the range fluctuates or the main tone.
Zinc: The price of zinc fluctuated within a narrow range, and traders' shipping mentality dominated. The purchasing enthusiasm of downstream manufacturers was obviously insufficient, and most manufacturers remained cautious and wait-and-see. During this period, most of the transactions were mainly between traders, and the market transactions did not change much.
Stainless Steel: Stainless steel futures rebounded slowly from the low level, the spot market did not have the intention to follow up, the raw material side continued to show a downward trend, and the nickel price fluctuated downward, which still suppressed the trading confidence. The manufacturers in the waste industry maintained the risk-averse thinking of receiving goods at low prices, and the buyers and sellers were not active in operation, and the circulation of goods was less. (for reference only)
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