Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 18
2025-2-18
Copper: Today, the spot copper price in Foshan market continued to fall, and the price of copper futures surged and fell, which put pressure on the spot market and made trading cautious. At present, the social stocks of electrolytic copper at home and abroad are accumulating, indicating that the current market demand prospect is still unclear. Under the attack of multiple pressures, copper prices fell sharply, and the market continued to pay attention to when the inflection point of inventory reduction appeared. Although the tight supply of minerals has provided some support for copper prices, factors such as unsatisfactory consumption recovery, inventory accumulation expectations and market balance caused by high prices may pose greater pressure on copper prices, and short-term copper prices may be dominated by range fluctuations. At present, the transaction in the spot market is still weak, the willingness of cargo holders to adjust prices and ship goods is rising, and traders enter the market to purchase at a reduced price every fall, and the transaction is not good.
Aluminum: Today, the price of aluminum in Foshan market continues to drop slightly, and the short-term trend continues to fluctuate within a range. The continuous accumulation of inventory puts pressure on the short-term aluminum price. However, after the Lantern Festival, the downstream processing end ushered in a comprehensive resumption of work, and the traditional off-season cycle has come to an end. With the arrival of the peak consumption season, the market is cautiously optimistic about the recovery of consumption and supports the short-term aluminum price.
Zinc: Today, the price of zinc in Foshan market 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, mostly wait and see, and their purchasing enthusiasm is not high, and market transactions have not changed much.
Stainless Steel: Stainless steel futures insurance fell below the 13,000 yuan mark. Due to the slow recovery of demand in the spot market, most transactions were in a wait-and-see atmosphere, but the production cost supported the price. At present, the scrap industry is mainly based on single operation, and the purchase volume of steel mills is gradually increasing, and buyers generally maintain stable price transactions. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market continues to drop slightly, and the short-term trend continues to fluctuate within a range. The continuous accumulation of inventory puts pressure on the short-term aluminum price. However, after the Lantern Festival, the downstream processing end ushered in a comprehensive resumption of work, and the traditional off-season cycle has come to an end. With the arrival of the peak consumption season, the market is cautiously optimistic about the recovery of consumption and supports the short-term aluminum price.
Zinc: Today, the price of zinc in Foshan market 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, mostly wait and see, and their purchasing enthusiasm is not high, and market transactions have not changed much.
Stainless Steel: Stainless steel futures insurance fell below the 13,000 yuan mark. Due to the slow recovery of demand in the spot market, most transactions were in a wait-and-see atmosphere, but the production cost supported the price. At present, the scrap industry is mainly based on single operation, and the purchase volume of steel mills is gradually increasing, and buyers generally maintain stable price transactions. (Analyzed by LTIT)
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