Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 8
2025-4-8
Copper: The spot copper price in Foshan market continues to fall today, but the decline is obviously slower than yesterday, and the market caution is still strong. This morning, the main contract of SHFE copper once fell to 72,580 yuan, which was more than 10,000 yuan per ton compared with the stage high of 83,320 yuan under the bed on March 26th. Therefore, the fundamentals of the current copper market show a long-short game: after the copper price plunged sharply, there was a low replenishment demand in the downstream, and the domestic refined copper social pool was defused for two consecutive weeks, and the spot premium increased, which supported the confidence of the merchants in pricing. At the same time, however, the market panic spread, the receivers were bearish, the demand for replenishment in the downstream was weak, the trading was deadlocked, and the market as a whole showed a trend of being valuable but not marketable. At present, the market is paying close attention to the progress of US tariff negotiations.
Aluminum: Today, the price of aluminum in Foshan market dropped slightly, and trading was cautious. SHFE aluminum experienced yesterday's deep decline, and the panic dissipated. The price rebounded from the low level, and the spot aluminum price was relatively resistant. At present, the escalation of the trade war has forced the macro-policy to overweight and relax expectations, and the stimulus measures may accelerate, and the high level of SHFE aluminum has stimulated the downstream demand, which has supported the aluminum price.
Zinc: With the impact of US tariff policy, the center of gravity of zinc price moved down, and then there were risks of tariff implementation. Traders were extremely cautious in receiving goods, and most of them made inquiries only after receiving orders. Downstream manufacturers lacked confidence in the zinc price of after-market, and waited and saw mainly to purchase on demand, so the overall market transaction was weak.
Stainless Steel: The decline of stainless steel slowed down after one-day diving, but the spot market was disturbed by tariff news, and the short-term confidence performance was insufficient. The steel strip adjusted its price adaptively with the demand, and manufacturers in the waste industry took hedging operations one after another. Buyers generally took advantage of the situation to lower the price, and the overall market bargaining continued to drop, and the transaction flow was relatively light. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market dropped slightly, and trading was cautious. SHFE aluminum experienced yesterday's deep decline, and the panic dissipated. The price rebounded from the low level, and the spot aluminum price was relatively resistant. At present, the escalation of the trade war has forced the macro-policy to overweight and relax expectations, and the stimulus measures may accelerate, and the high level of SHFE aluminum has stimulated the downstream demand, which has supported the aluminum price.
Zinc: With the impact of US tariff policy, the center of gravity of zinc price moved down, and then there were risks of tariff implementation. Traders were extremely cautious in receiving goods, and most of them made inquiries only after receiving orders. Downstream manufacturers lacked confidence in the zinc price of after-market, and waited and saw mainly to purchase on demand, so the overall market transaction was weak.
Stainless Steel: The decline of stainless steel slowed down after one-day diving, but the spot market was disturbed by tariff news, and the short-term confidence performance was insufficient. The steel strip adjusted its price adaptively with the demand, and manufacturers in the waste industry took hedging operations one after another. Buyers generally took advantage of the situation to lower the price, and the overall market bargaining continued to drop, and the transaction flow was relatively light. (Analyzed by LTIT)
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