Metal Scrap Performance in China
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Metal scraps performances in Foshan market on December 12
2024-12-12
Copper: The spot copper price in Foshan market fell slightly today, with strong wait-and-see mood between buyers and sellers and light market trading. The favorable policies have limited stimulus to copper prices. At present, domestic policies are still in the stage of boosting expectations, and the market's pessimism about the current weak reality has not been completely reversed. Therefore, the short-term copper price may be repeated, and the price is still dominated by range fluctuations. With the end of the long list at the end of the year, the demand for copper gradually weakened. Scrap copper sellers intend to ship on rallies, but downstream enterprises have a strong wait-and-see mood and a low purchasing willingness. The weak market demand and superimposed copper price are still in the high price range, which further suppresses the willingness of downstream enterprises to replenish, making the current copper price face greater upward pressure. However, the traders expect LME copper of 9000 dollars to remain the recent support level.
Aluminum: Today, the price of aluminum in Foshan market continues to rise slightly. Due to the seasonal weakening of demand in the aluminum market, the market's response to favorable policies is flat, and the traders are more concerned about the withdrawal of funds and the safety of funds. At present, the fundamentals of the domestic aluminum market have not changed much, the supply side has remained stable, the SHFE aluminum pool tends to be low, and the alumina futures price at the cost side has stopped falling and rebounded, supporting the aluminum price to fluctuate upward.
Zinc: Today, the price of zinc in Foshan market remains at a high level, and traders are more cautious in receiving goods, focusing on maintaining the existing inventory operation. The downstream materials manufacturers are afraid of heights, mostly wait and see, and their purchasing enthusiasm is not high. High zinc prices inhibit downstream replenishment, and market demand transactions are dull.
Stainless Steel: The price of nickel kept fluctuating in a range and rose from a low level. The stainless steel futures market took advantage of the trend to accelerate the pace of increase. The spot market took the opportunity to speculate, and the price of steel strip rose slightly. Scrap buyers actively raised the receipt with the trend to promote the rhythm of supply transactions. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market continues to rise slightly. Due to the seasonal weakening of demand in the aluminum market, the market's response to favorable policies is flat, and the traders are more concerned about the withdrawal of funds and the safety of funds. At present, the fundamentals of the domestic aluminum market have not changed much, the supply side has remained stable, the SHFE aluminum pool tends to be low, and the alumina futures price at the cost side has stopped falling and rebounded, supporting the aluminum price to fluctuate upward.
Zinc: Today, the price of zinc in Foshan market remains at a high level, and traders are more cautious in receiving goods, focusing on maintaining the existing inventory operation. The downstream materials manufacturers are afraid of heights, mostly wait and see, and their purchasing enthusiasm is not high. High zinc prices inhibit downstream replenishment, and market demand transactions are dull.
Stainless Steel: The price of nickel kept fluctuating in a range and rose from a low level. The stainless steel futures market took advantage of the trend to accelerate the pace of increase. The spot market took the opportunity to speculate, and the price of steel strip rose slightly. Scrap buyers actively raised the receipt with the trend to promote the rhythm of supply transactions. (Analyzed by LTIT)
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