Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 27
2025-2-27
Copper: The spot copper price in Foshan market fell slightly today, and the market trading sentiment continued to be cautious. The investigation of copper imports in the United States has raised the market's expectation that the United States may impose tariffs on copper in the future, but in the short term, it will increase the import cost of copper in the United States. Therefore, COMEX copper is relatively strong, SHFE copper performance is calm, and the market still remains weak and volatile. The problem of mine shortage that has plagued the copper market for a long time is intensifying, but it is difficult to provide more help to the copper price under the background of limited influence on the smelting end, and the domestic downstream demand still needs to be restored. Although the market has expectations for the traditional peak season, it also needs to see signs of marginal improvement in supply and demand, so the copper price is in a volatile situation, and the short-term SHFE copper target is 78,000 yuan.
Aluminum: Today, the price of aluminum in Foshan market is stable and the transaction is relatively dull. This week, the trend of aluminum ingots is weak under the multiple pressures of profit-taking market, increasing social inventory and still weak alumina, and the price continues to fluctuate and decline. At present, aluminum manufacturers are still cautious and wait-and-see, but considering that the "two sessions" and "golden March and silver April" are still expected, aluminum prices may continue to fluctuate.
Zinc: Today, the trend of SHFE zinc market is weak, and traders ship on the market with it. The downstream zinc manufacturers have low willingness to receive goods, and they are cautious in purchasing. They have not thought of increasing the purchase quantity because of the decline in zinc prices, and the spot market transactions are stable. There is uncertainty in the US tariff policy. The low social stock of zinc ingots supports the price of zinc, and it is expected that there is limited room for the price of zinc to fall.
Stainless Steel: Stainless steel futures bottomed out and rebounded, bringing hope to the spot market, steel strip transactions ushered in a recovery, the scrap industry followed the red-hot atmosphere, manufacturers negotiated actively, large-scale buyers gradually moved closer to high prices, and the center of gravity of the transaction price moved up slightly. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market is stable and the transaction is relatively dull. This week, the trend of aluminum ingots is weak under the multiple pressures of profit-taking market, increasing social inventory and still weak alumina, and the price continues to fluctuate and decline. At present, aluminum manufacturers are still cautious and wait-and-see, but considering that the "two sessions" and "golden March and silver April" are still expected, aluminum prices may continue to fluctuate.
Zinc: Today, the trend of SHFE zinc market is weak, and traders ship on the market with it. The downstream zinc manufacturers have low willingness to receive goods, and they are cautious in purchasing. They have not thought of increasing the purchase quantity because of the decline in zinc prices, and the spot market transactions are stable. There is uncertainty in the US tariff policy. The low social stock of zinc ingots supports the price of zinc, and it is expected that there is limited room for the price of zinc to fall.
Stainless Steel: Stainless steel futures bottomed out and rebounded, bringing hope to the spot market, steel strip transactions ushered in a recovery, the scrap industry followed the red-hot atmosphere, manufacturers negotiated actively, large-scale buyers gradually moved closer to high prices, and the center of gravity of the transaction price moved up slightly. (Analyzed by LTIT)
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