Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 7
2025-4-7
Copper: The spot copper price in Foshan market plummeted across the board today, and the cautious mood in the market rose sharply. The Sino-US tariff "nuclear bomb" detonated the market panic, and copper prices fell into the "eye of the storm". LME copper continued to plummet in the morning, hitting an intraday low of $8,105. In the recent nine trading days, the maximum fluctuation range of LME copper exceeded 2000 USD/ton. After a deep drop, the copper price attracted some funds to enter the market at the bottom. LME copper rebounded from a low level and rose to 9096 USD, which drove domestic SHFE copper to open the daily limit, and the decline of the main contract narrowed to 4750 yuan. According to the analysis, due to the increase in demand concerns caused by tariffs imposed by the United States, the risk of further decline in copper prices will not be ruled out in the short term, and short-term attention will be paid to whether the US stock market stops falling, the progress of tariff negotiations and demand support.
Aluminum: Today, the price of aluminum in Foshan market plummeted across the board. Tariff war detonated the global market collapse, and LME aluminum suffered a continuous decline on the 12th. This morning, after hitting a low of $2,320, it ushered in a rebound, and the decline of SHFE aluminum narrowed. The global trade war suddenly escalated, market confidence was frustrated, domestic real estate was weak, terminal consumption was sluggish, exports were blocked, and the market was cautious about subsequent demand.
Zinc: The US tariff policy incited the global zinc price to passively follow down, SHFE zinc opened lower and went higher, and the goods were shipped normally by the merchants. The downstream manufacturers maintained a more cautious attitude, and there was a general shortage of materials before the holiday. Some manufacturers with rigid demand were more active in purchasing when prices fell, and their enthusiasm for spot trading was average. Traders should pay attention to the progress of the new round of trade war.
Stainless Steel: The tariff policy struck, which triggered a storm of falling prices in the metal market. On Monday, SHFE nickel and stainless steel futures continued to follow the risk release. SHFE nickel once fell to the daily limit, but it opened lower and went higher, and the decline narrowed. The panic in the spot market has expanded rapidly, and the trading in the waste industry has been chaotic and depressed, and the overall market has fallen sharply. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market plummeted across the board. Tariff war detonated the global market collapse, and LME aluminum suffered a continuous decline on the 12th. This morning, after hitting a low of $2,320, it ushered in a rebound, and the decline of SHFE aluminum narrowed. The global trade war suddenly escalated, market confidence was frustrated, domestic real estate was weak, terminal consumption was sluggish, exports were blocked, and the market was cautious about subsequent demand.
Zinc: The US tariff policy incited the global zinc price to passively follow down, SHFE zinc opened lower and went higher, and the goods were shipped normally by the merchants. The downstream manufacturers maintained a more cautious attitude, and there was a general shortage of materials before the holiday. Some manufacturers with rigid demand were more active in purchasing when prices fell, and their enthusiasm for spot trading was average. Traders should pay attention to the progress of the new round of trade war.
Stainless Steel: The tariff policy struck, which triggered a storm of falling prices in the metal market. On Monday, SHFE nickel and stainless steel futures continued to follow the risk release. SHFE nickel once fell to the daily limit, but it opened lower and went higher, and the decline narrowed. The panic in the spot market has expanded rapidly, and the trading in the waste industry has been chaotic and depressed, and the overall market has fallen sharply. (Analyzed by LTIT)
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