Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 17
2025-4-17
Copper: The spot copper price in Foshan market rose in an all-round way today, and the cautious mood in the market eased slightly. Recently, the negative tariffs have been suspended, and the staged repair of the financial market and the weakening of the US dollar index have stabilized market sentiment, making goods denominated in US dollars cheaper for buyers using other currencies, improving the prospect of metal demand and helping copper prices rally. China's GDP, industrial added value and fixed assets investment in the first quarter showed positive performance, which also brought consumer confidence to the current market. Fundamental low prices stimulate consumption and accelerate destocking, supporting the rally of copper prices. At present, the problem of tight supply of recycled copper is getting worse and worse, and the asking price of the goods holders is firm. At one time, the price difference between refined copper and scrap was narrowed to the limit level, which supported the consumption of refined copper and supported the short-term copper price.
Aluminum: Today, the price of aluminum in Foshan market has risen sharply, the trading atmosphere has warmed up, manufacturers have maintained on-demand procurement, and transactions have improved. Judging from the recent market conditions, although the United States will impose tariffs on China again, this range is no longer meaningful, and China is constantly seeking more and more export directions and incentives, but overall, aluminum demand will still face greater pressure.
Zinc: SHFE zinc opened lower and went higher, and the number of merchants entering the market increased. The enthusiasm of trading merchants remained, and the downstream manufacturers maintained a more cautious attitude. Some manufacturers with rigid demand were more active in purchasing, and spot transactions increased significantly compared with before.
Stainless Steel: The price of nickel continued to rise with the broader market, but stainless steel futures temporarily encountered resistance in front of the 13,000 mark, and the transaction atmosphere in the spot market was also blocked. The momentum of buyers in the scrap industry was somewhat restrained, and the acceptance of high prices by steel mills was limited. Today, manufacturers negotiated to maintain a stable price trading state. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has risen sharply, the trading atmosphere has warmed up, manufacturers have maintained on-demand procurement, and transactions have improved. Judging from the recent market conditions, although the United States will impose tariffs on China again, this range is no longer meaningful, and China is constantly seeking more and more export directions and incentives, but overall, aluminum demand will still face greater pressure.
Zinc: SHFE zinc opened lower and went higher, and the number of merchants entering the market increased. The enthusiasm of trading merchants remained, and the downstream manufacturers maintained a more cautious attitude. Some manufacturers with rigid demand were more active in purchasing, and spot transactions increased significantly compared with before.
Stainless Steel: The price of nickel continued to rise with the broader market, but stainless steel futures temporarily encountered resistance in front of the 13,000 mark, and the transaction atmosphere in the spot market was also blocked. The momentum of buyers in the scrap industry was somewhat restrained, and the acceptance of high prices by steel mills was limited. Today, manufacturers negotiated to maintain a stable price trading state. (Analyzed by LTIT)
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