Metal Scrap Performance in China
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Metal scraps performances in Foshan market on June 18
2025-6-18
Copper: Today, the copper price in Foshan market rose steadily, and the trading sentiment in the market continued to be cautious. Geopolitical conflicts in the Middle East continued to escalate, and safe-haven funds poured into US dollar assets, which pushed the US dollar index to rise one after another in recent days and suppressed the trend of copper prices. Although the demand for copper market continued to decline after entering June, the domestic social inventory of electrolytic copper remained low, and the high growth of power grid investment continued to boost the resilience of copper consumption, which still supported the short-term copper price. Currently, the domestic supply of electrolytic copper remains tight, driving spot premiums higher. Amid tight recycled copper supply, most downstream manufacturers continue to procure on a need-to basis, leading to relatively subdued trading activity. Overall, copper prices lack strong upward momentum in the near term and are expected to fluctuate within a high range, with spot prices showing limited volatility.
Aluminum: Aluminum prices in Foshan surged significantly today, with the SHFE aluminum main contract posting a "six-day consecutive rally," demonstrating strong short-term momentum. Persistently low inventories continue to support aluminum prices, but with end consumption entering the off-season, downstream processing enterprises face order pressure, and operating rates show a declining trend. Weak demand may cap further upside potential. In the near term, aluminum prices are likely to remain range-bound.
Zinc: Prices rallied from low levels, with traders generally actively destocking. However, downstream zinc consumers remain cautious, mainly purchasing on order-based demand, resulting in a market stalemate between supply and demand. Overall trading activity was subdued with lackluster turnover. While heightened geopolitical risks in the Middle East, low inventories and supply disruptions at the mine level continue to support zinc prices, weak demand continues to weigh on the market. Zinc prices are expected to maintain a weak consolidation pattern in the near term.
Stainless Steel: LME nickel prices extended losses for seven consecutive days, breaking below the $15,000/ton threshold. Both SHFE nickel and stainless steel futures continued their bearish trend, with spot prices following the downward movement. Market activity remained sluggish as scrap suppliers maintained low-price purchasing strategies. Tight material availability continues to provide some downside resistance. Given the pessimistic seasonal demand outlook, the market is expected to remain weak with further potential for price declines. (for reference only)
Aluminum: Aluminum prices in Foshan surged significantly today, with the SHFE aluminum main contract posting a "six-day consecutive rally," demonstrating strong short-term momentum. Persistently low inventories continue to support aluminum prices, but with end consumption entering the off-season, downstream processing enterprises face order pressure, and operating rates show a declining trend. Weak demand may cap further upside potential. In the near term, aluminum prices are likely to remain range-bound.
Zinc: Prices rallied from low levels, with traders generally actively destocking. However, downstream zinc consumers remain cautious, mainly purchasing on order-based demand, resulting in a market stalemate between supply and demand. Overall trading activity was subdued with lackluster turnover. While heightened geopolitical risks in the Middle East, low inventories and supply disruptions at the mine level continue to support zinc prices, weak demand continues to weigh on the market. Zinc prices are expected to maintain a weak consolidation pattern in the near term.
Stainless Steel: LME nickel prices extended losses for seven consecutive days, breaking below the $15,000/ton threshold. Both SHFE nickel and stainless steel futures continued their bearish trend, with spot prices following the downward movement. Market activity remained sluggish as scrap suppliers maintained low-price purchasing strategies. Tight material availability continues to provide some downside resistance. Given the pessimistic seasonal demand outlook, the market is expected to remain weak with further potential for price declines. (for reference only)
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