Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 12
2025-2-12
Copper: Today, the spot copper price in Foshan market declined slightly, and trading continued to be cautious. The short-term strength of the US dollar has put some pressure on the trend of copper prices. After the continuous rise of copper prices, it also faces profit risks, and copper prices are under pressure. 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. However, at present, domestic copper enterprises have started construction one after another, and the demand in the copper market is expected to gradually improve. At present, the high copper price correction may be more conducive to the replenishment of merchants in the market, and the electrolytic copper inventory is expected to slowly enter the rhythm of reducing stocks again. The supplier of recycled copper is even more firm because of insufficient supply and import inversion.
Aluminum: Today, the price of aluminum in Foshan market reappears to decline, and the funds are worried about the impact of the international situation and the weak alumina, so they are now making short-term profits. At present, aluminum enterprises have basically entered the state of start-up, and most manufacturers report that after the price rises, they still make profits from inventory and purchase according to new orders. Because the aluminum price was relatively firm after the Spring Festival, and the accumulated stock was basically in line with expectations, the aluminum price remained volatile for a short time.
Zinc: The price of zinc continues to fluctuate, and the wait-and-see atmosphere in the market is heavy. Middlemen carefully purchase goods according to orders, and the inventory basically maintains a low level of operation. Downstream manufacturers are hesitant about the price increase of zinc in the after-market, and most of them wait and see, and their purchasing enthusiasm is not high, and market transactions have not changed much. With the gathering of market sentiment after the Lantern Festival, the warming of mood drives the increase of buying, and it is expected that the zinc price will fluctuate upward in the after-market.
Stainless Steel: Suppressed by the continuous decline of nickel and stainless steel futures, the recovery of spot trading encountered resistance, the downstream demand was not strong, the price of steel strip declined, and the scrap market was dragged back. The bargaining intention of manufacturers was not strong, and the turnover of supply transactions was still small. The stainless steel in the after-market will rely on cost support, and then take the opportunity to break through when demand picks up.
Aluminum: Today, the price of aluminum in Foshan market reappears to decline, and the funds are worried about the impact of the international situation and the weak alumina, so they are now making short-term profits. At present, aluminum enterprises have basically entered the state of start-up, and most manufacturers report that after the price rises, they still make profits from inventory and purchase according to new orders. Because the aluminum price was relatively firm after the Spring Festival, and the accumulated stock was basically in line with expectations, the aluminum price remained volatile for a short time.
Zinc: The price of zinc continues to fluctuate, and the wait-and-see atmosphere in the market is heavy. Middlemen carefully purchase goods according to orders, and the inventory basically maintains a low level of operation. Downstream manufacturers are hesitant about the price increase of zinc in the after-market, and most of them wait and see, and their purchasing enthusiasm is not high, and market transactions have not changed much. With the gathering of market sentiment after the Lantern Festival, the warming of mood drives the increase of buying, and it is expected that the zinc price will fluctuate upward in the after-market.
Stainless Steel: Suppressed by the continuous decline of nickel and stainless steel futures, the recovery of spot trading encountered resistance, the downstream demand was not strong, the price of steel strip declined, and the scrap market was dragged back. The bargaining intention of manufacturers was not strong, and the turnover of supply transactions was still small. The stainless steel in the after-market will rely on cost support, and then take the opportunity to break through when demand picks up.
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