Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 11
2025-2-11
Copper: The spot copper price in Foshan market is stable today, and the market transactions are cautiously improved. The rise of the US dollar put some pressure on the trend of copper prices, and copper futures rose to a high price range. With the approach of the National People's Congress and the National People's Congress, the market's favorable expectations for domestic policies have increased. However, considering the low operating rate of the downstream, there is a certain risk in chasing high; After the holiday, the domestic social stocks of refined copper have accumulated significantly, and it is expected that the trend of accumulated stocks will continue over the weekend. On the supply side, domestic smelting and production scheduling may pick up in February; On the consumer side, the strong consumption of household appliances before the holiday and the shortage of recycled copper benefited refined copper, and the inventory accumulation slowed down. On the whole, the fundamental logic of tight raw materials has been priced by the market. If the macro risks do not continue to intensify, the short-term copper price still has the resilience to rise, and it is expected that there will be limited room for correction.
Aluminum: Today, the price of aluminum in Foshan market is rising again, and the short-term trend is strong. US President Trump signed an executive order announcing a 25% tariff on all steel and aluminum imported into the United States. After the announcement of this news, LME aluminum rose sharply, which led SHFE aluminum to rise actively. However, after the Spring Festival, the continuous rise in aluminum prices made aluminum manufacturers slightly cautious in purchasing, and most of them mainly purchased on demand.
Zinc: The demand is insufficient, and the price of zinc is weak. Middlemen and traders are worried that the zinc market will generally be actively shipped in the later period. The downstream manufacturers are cautious and mainly purchase on demand, and the demand is weak and the spot market transactions are weak. After the Lantern Festival in China, the operating rate will increase, the demand will increase, the market sentiment will gather, and the warming mood will drive the increase in buying. It is expected that the zinc price will fluctuate upward in the after-market.
Stainless Steel: Affected by the macro news, the United States threatened to impose tariffs, nickel and stainless steel futures continued to fall back, the cautious wait-and-see mood in the spot market warmed up, and the popularity of the scrap industry resumed, but the buyers' purchasing enthusiasm was not good, and the prices followed a small correction. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market is rising again, and the short-term trend is strong. US President Trump signed an executive order announcing a 25% tariff on all steel and aluminum imported into the United States. After the announcement of this news, LME aluminum rose sharply, which led SHFE aluminum to rise actively. However, after the Spring Festival, the continuous rise in aluminum prices made aluminum manufacturers slightly cautious in purchasing, and most of them mainly purchased on demand.
Zinc: The demand is insufficient, and the price of zinc is weak. Middlemen and traders are worried that the zinc market will generally be actively shipped in the later period. The downstream manufacturers are cautious and mainly purchase on demand, and the demand is weak and the spot market transactions are weak. After the Lantern Festival in China, the operating rate will increase, the demand will increase, the market sentiment will gather, and the warming mood will drive the increase in buying. It is expected that the zinc price will fluctuate upward in the after-market.
Stainless Steel: Affected by the macro news, the United States threatened to impose tariffs, nickel and stainless steel futures continued to fall back, the cautious wait-and-see mood in the spot market warmed up, and the popularity of the scrap industry resumed, but the buyers' purchasing enthusiasm was not good, and the prices followed a small correction. (Analyzed by LTIT)
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