Metal Scrap Performance in China
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Metal scraps performances in Foshan market on June 24
2025-6-24
Copper: Today, the copper price in Foshan market rose slightly, and the short-term fluctuation pattern of copper price range was remarkable. Iran and Israel announced a formal ceasefire, so the market risk aversion eased, and the dollar index fell at a high level, which boosted the demand prospect of industrial metal commodities denominated in dollars and benefited the trend of copper prices. Investors need to keep an eye on the latest developments in the Middle East. At the same time, Federal Reserve Chairman Powell will give testimony in the semi-annual monetary policy report before the House Financial Services Committee today, and his policy statement should also be focused on. At present, the tight supply of LME copper market has pushed up the premium to $340, a record high since 2022. The analysis predicts that if the tight supply situation continues, it will further trigger the forced warehouse behavior and aggravate the fluctuation of copper prices.
Aluminum: Today, the aluminum price in Foshan market continues to fall, the short-term fluctuation is weak, and the cautious mood in the market is heating up. Over the weekend, the social inventory of domestic aluminum ingots unexpectedly accumulated a lot, and the market's concerns about recent liquidity eased, and the recent important benefits of aluminum prices weakened, paying attention to the short-term aluminum price to repair the demand. At present, traders generally expect that short-term aluminum prices will continue to fluctuate mainly in the range, and most of them will wait and see.
Zinc: Israel and Iran's "ceasefire" pushed up the price of zinc, traders' shipping mentality was more positive, downstream manufacturers' purchasing enthusiasm was still not high, and the wait-and-see mood was relatively strong, basically maintaining on-demand procurement, and most of the market transactions came from the contributions of traders, and the overall transaction was average.
Stainless Steel: With negative news, stainless steel keeps falling. LME nickel gradually fell away from the $15,000 mark, stainless steel futures continued to refresh new lows in recent years, the spot market was full of falling prices, the price of plates and strips was turned down, and the scrap was received at a lower price one after another, and the overall market was still falling. (for reference only)
Aluminum: Today, the aluminum price in Foshan market continues to fall, the short-term fluctuation is weak, and the cautious mood in the market is heating up. Over the weekend, the social inventory of domestic aluminum ingots unexpectedly accumulated a lot, and the market's concerns about recent liquidity eased, and the recent important benefits of aluminum prices weakened, paying attention to the short-term aluminum price to repair the demand. At present, traders generally expect that short-term aluminum prices will continue to fluctuate mainly in the range, and most of them will wait and see.
Zinc: Israel and Iran's "ceasefire" pushed up the price of zinc, traders' shipping mentality was more positive, downstream manufacturers' purchasing enthusiasm was still not high, and the wait-and-see mood was relatively strong, basically maintaining on-demand procurement, and most of the market transactions came from the contributions of traders, and the overall transaction was average.
Stainless Steel: With negative news, stainless steel keeps falling. LME nickel gradually fell away from the $15,000 mark, stainless steel futures continued to refresh new lows in recent years, the spot market was full of falling prices, the price of plates and strips was turned down, and the scrap was received at a lower price one after another, and the overall market was still falling. (for reference only)
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