Metal Scrap Performance in China
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Metal scraps performances in Foshan market on April 18
2025-4-18
Copper: Today, the spot copper price in Foshan market is stable, and market transactions continue to be cautious. During the Easter holiday, LME market was closed. In the absence of external guidance, domestic metal futures performed steadily, while SHFE copper remained at a high level and fluctuated within a narrow range. Trump's tariff policy has not been canceled, and the copper market continues to be shrouded in policy fog. If Article 232 falls, the cost of manufacturing in the United States will devour the demand dividend; If the exemption is expanded, the short-term price may get a breather, but the sword of Damocles with shrinking demand is still hanging high. Traders are paying close attention to the trend and impact of tariffs. 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 aluminum price in Foshan market is stable. At present, the demand side of the aluminum market is performing well, and the recent price drop has stimulated the downstream rigid demand transaction volume to increase, and the inventory destocking has accelerated. At present, the national aluminum social inventory has dropped from about 880,000 tons in early March to 680,000 tons. However, the pressure of trade war on exports is still heavy, and it is not easy for aluminum prices to break through for the time being, with interval shocks as the main factor.
Zinc: zinc in the peripheral market fluctuated within a narrow range, and the cautious mentality did not dissipate, which affected the purchasing mentality of traders and manufacturers to a certain extent. Most merchants in the market were in a wait-and-see state, and most of them were mainly based on inquiry, and the trading atmosphere in the market tended to be dull. The escalation of global trade disputes and the decline in economic growth are expected to continue to suppress the terminal consumption of zinc, and the price of zinc is expected to remain weak in the after-market.
Stainless Steel: Due to the lack of external nickel price guidance, the rebound of stainless steel futures fell weakly, the spot market fell into a haze again, the steel strip was quiet and motionless, the activity of scrap trading was limited, manufacturers re-examined their operation strategies, and generally turned to cautious on-demand procurement, which blocked the upward price and made the transaction deadlocked again. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market is stable. At present, the demand side of the aluminum market is performing well, and the recent price drop has stimulated the downstream rigid demand transaction volume to increase, and the inventory destocking has accelerated. At present, the national aluminum social inventory has dropped from about 880,000 tons in early March to 680,000 tons. However, the pressure of trade war on exports is still heavy, and it is not easy for aluminum prices to break through for the time being, with interval shocks as the main factor.
Zinc: zinc in the peripheral market fluctuated within a narrow range, and the cautious mentality did not dissipate, which affected the purchasing mentality of traders and manufacturers to a certain extent. Most merchants in the market were in a wait-and-see state, and most of them were mainly based on inquiry, and the trading atmosphere in the market tended to be dull. The escalation of global trade disputes and the decline in economic growth are expected to continue to suppress the terminal consumption of zinc, and the price of zinc is expected to remain weak in the after-market.
Stainless Steel: Due to the lack of external nickel price guidance, the rebound of stainless steel futures fell weakly, the spot market fell into a haze again, the steel strip was quiet and motionless, the activity of scrap trading was limited, manufacturers re-examined their operation strategies, and generally turned to cautious on-demand procurement, which blocked the upward price and made the transaction deadlocked again. (Analyzed by LTIT)
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