Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 10
2025-4-10
Copper: Spot copper prices rebounded strongly in Foshan market today, but trading remained cautious. Trump announced a 90-day tariff suspension for countries that have not retaliated. The European Union countered by imposing a 25% tariff on US$ 28 billion goods, but said that it could be suspended after the agreement was reached. The global trade war entered a short-term easing period, risk appetite rebounded significantly, US stocks and metal sectors rebounded strongly, LME copper re-tested the $9,000 mark, and the main contract of SHFE copper rose to 75,310 yuan/ton. Recently, after the copper price fell deeply, the downstream buying was released, and the price difference between refined copper and scrap was narrowed to enhance the substitution advantage of refined copper consumption. The spot premium was strong and the superimposed inventory continued to go down, and the copper price was supported by many factors, which is expected to usher in a repair market in the short term.
Aluminum: Today, the price of aluminum in Foshan market rose sharply, and SHFE aluminum regained some lost ground and approached the 20,000 mark again. Recently, the sharp decline in aluminum prices has attracted some users to enter the market to buy and trade in the market. However, the tariff trade war has not loosened the categories such as automobiles, and Sino-US trade relations are still tense. It is still necessary to guard against the tariff uncertainty brought about by the global trade war at any time.
Zinc: Trump said that he has authorized a 90-day tariff suspension for countries that do not take retaliatory actions. The price of zinc has risen sharply. Traders are more cautious in receiving goods, mainly to maintain existing inventory operations. Downstream material manufacturers are worried about the after-market, mostly on the sidelines, with low purchasing enthusiasm and dull market transactions.
Stainless Steel: The news that the United States suspended some tariffs stimulated the commodity Big bounce, SHFE nickel and stainless steel futures to rebound rapidly from the low level. Although the market panic was alleviated, the spot trading was still cautious, and the demand and consumption resistance of steel strip was great. Scrap manufacturers continued to maintain the attitude of receiving goods at low prices, and the overall supply transactions were deserted. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market rose sharply, and SHFE aluminum regained some lost ground and approached the 20,000 mark again. Recently, the sharp decline in aluminum prices has attracted some users to enter the market to buy and trade in the market. However, the tariff trade war has not loosened the categories such as automobiles, and Sino-US trade relations are still tense. It is still necessary to guard against the tariff uncertainty brought about by the global trade war at any time.
Zinc: Trump said that he has authorized a 90-day tariff suspension for countries that do not take retaliatory actions. The price of zinc has risen sharply. Traders are more cautious in receiving goods, mainly to maintain existing inventory operations. Downstream material manufacturers are worried about the after-market, mostly on the sidelines, with low purchasing enthusiasm and dull market transactions.
Stainless Steel: The news that the United States suspended some tariffs stimulated the commodity Big bounce, SHFE nickel and stainless steel futures to rebound rapidly from the low level. Although the market panic was alleviated, the spot trading was still cautious, and the demand and consumption resistance of steel strip was great. Scrap manufacturers continued to maintain the attitude of receiving goods at low prices, and the overall supply transactions were deserted. (Analyzed by LTIT)
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