Scrap Copper

This week, the Shanghai copper market experienced overall fluctuations and upward movement. Some traders in the early stage were conservative in their market outlook, with limited transactions and general market activity. On Thursday, copper prices rose, with holders holding onto their goods in anticipation of further increases, and market sentiment turned cautious. According to tracking, the Dali market currently has a shortage of supply, and suppliers reported difficulties in receiving goods. On Friday, copper prices rose for the fourth consecutive day, with active movement in the trading market. A supplier in Linyi Metal City learned that on Thursday, 200 tons were sold, with a relatively cautious outlook for the future, and mainly focused on settling profits and selling out. The cost-performance of scrap copper rods improved, and purchasing intentions followed the upward trend. Next week, the main focus for Shanghai copper is between 68,000-70,500 yuan, and for scrap copper, between 62,500-64,500 yuan.

Scrap Aluminum

This week, scrap aluminum prices have stabilized with a slight upward trend, ranging from 0 to 100 yuan. The mainstream price for recycled aluminum alloy in the East China region is currently 15,300 yuan, while bright aluminum wire is at 16,300 to 16,500 yuan, aluminum cans at 12,700 to 13,000 yuan, and machine-made aluminum at 14,300 to 14,500 yuan. Prices remain low, and holders are hesitant to sell, making it difficult to change the tight supply situation in the market. Manufacturers are facing difficulties in replenishing stocks, and scrap prices are clearly in a bullish pattern. In the short term, prices are expected to remain strong, and there may be further recovery next week. However, considering the impact of macro factors, it is not recommended to chase excessive gains.

Used Electric Batteries

Lead prices experienced a rebound this week, under pressure. Waste battery quotes were adjusted only for a few varieties after an initial price increase at the beginning of the week, with overall prices fluctuating. As of March 24th, electric vehicle prices in Anhui were approximately 8,870-8,970 yuan/ton, unchanged from last week. The waste battery market has seen prices gradually rise for some varieties due to reduced deliveries to refineries and replenishment needs. It is expected that waste battery prices may slightly increase next week as demand for raw materials at material yards increases, and we will continue to monitor the inventory situation at refineries.

Scrap Zinc

The zinc prices fluctuated this week, starting low and then rising. As of March 24th, the报价 for No.0 zinc was 22490-22590 yuan/ton, up 40 yuan/ton from last week. The Federal Reserve, as expected, raised interest rates by 25 basis points in March. Although the post-meeting comments were neutral, the macro-level tension was relieved. Additionally, U.S. Treasury Secretary indicated that U.S. banks would receive protection, restoring market confidence. The SH锌 reversed its downward trend and nearly reached its highest level within the week. It's crucial to monitor if there will be positive news to drive the trend further. It is anticipated that SH锌 may continue to oscillate within the range of 22,500-23,500 yuan/ton next week.