Metal Scrap Performance in China
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Metal scraps performances in Foshan market on February 5
2025-2-5
Copper: The spot copper price in Foshan market is stable today, and the market transaction is still dull. On the first trading day after the Spring Festival, the performance of non-ferrous metals in SHFE was weak, and SHFE copper fell slightly, which put pressure on the trading sentiment in the spot market. Today is Chinese Calendar January 8th. A small number of domestic factories and enterprises have started to enter the construction mode, and the market demand expectation has gradually started. However, at present, the market demand is still limited, and the current trend of copper prices is still unclear. Factories and enterprises are still mainly digesting inventories or purchasing on demand, and the overall trading volume of the market is relatively limited. The two sessions will be held in March, and there will be policy expectations in China, and the downstream gradually shifts to the peak consumption season. The copper price in the after-market can still be expected, and $9,500 may become the first concern.
Aluminum: Today, the price of aluminum in Foshan market rose slightly. After the holiday, SHFE aluminum got off to a good start, and the price remained in a narrow range above 20,000 yuan, which brought anti-falling support to the spot aluminum price. Before the holiday, the market was not fully prepared, but after the holiday, we paid more attention to the domestic policy level and the impact of American trade tariff measures on the international market. The first small target after the holiday was 20,500 yuan.
Zinc: Today, the zinc price in Foshan market continues to be weak before the holiday, most businesses are still in the holiday, most market participants are cautious, and manufacturers have obvious wait-and-see mood. Today, there are fewer market transactions. After the Spring Festival in China, the demand has increased, and the market sentiment has continued to converge. It is expected that there will be limited room for zinc prices to fall again.
Stainless Steel: The market resumed in the Spring Festival, and stainless steel futures welcomed a good start. After the holiday, they took on the pre-holiday gains. However, the spot market is still in the holiday atmosphere, and scrap trading is also waiting for the recovery of popularity. The market has made a good start. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market rose slightly. After the holiday, SHFE aluminum got off to a good start, and the price remained in a narrow range above 20,000 yuan, which brought anti-falling support to the spot aluminum price. Before the holiday, the market was not fully prepared, but after the holiday, we paid more attention to the domestic policy level and the impact of American trade tariff measures on the international market. The first small target after the holiday was 20,500 yuan.
Zinc: Today, the zinc price in Foshan market continues to be weak before the holiday, most businesses are still in the holiday, most market participants are cautious, and manufacturers have obvious wait-and-see mood. Today, there are fewer market transactions. After the Spring Festival in China, the demand has increased, and the market sentiment has continued to converge. It is expected that there will be limited room for zinc prices to fall again.
Stainless Steel: The market resumed in the Spring Festival, and stainless steel futures welcomed a good start. After the holiday, they took on the pre-holiday gains. However, the spot market is still in the holiday atmosphere, and scrap trading is also waiting for the recovery of popularity. The market has made a good start. (Analyzed by LTIT)
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