en.Wedoany.com Reported - Last week (May 28 to June 3, 2026), the steel and non-ferrous metals market generally showed a narrow range fluctuation trend. The price of medium-thick plates in the Beijing-Tianjin-Hebei region fluctuated in the range of 3450-3570 yuan/ton, with weak trading. On the supply side, steel mills have full order books for specialty plates, leading to extended delivery cycles, tight supply of common materials, and increased price premiums for specifications. On the demand side, end-users only made sporadic purchases on an as-needed basis, and traders generally lowered prices to clear inventory. The ongoing rainy season in the south and the end of the wheat harvest in the north mean that demand for common plates is unlikely to recover quickly, while ship plates and container plates continue to support overall demand. It is expected that the price of medium-thick plates will continue to fluctuate within a narrow range this week.

In terms of trading, the consumption of medium-thick plates last week was 1.7269 million tons, a week-on-week decrease of 21,400 tons and a month-on-month decrease of 0.3%. Market participants mostly adopted a cautious and wait-and-see attitude, focusing on selling.

Regarding steel mill dynamics, according to a full-sample survey by Mysteel on hot-rolled coils, the actual total impact of hot-rolled coils last week was -2,000 tons. The estimated total impact for this week (statistical period from May 28, 2026 to June 3, 2026) is -13,600 tons, and the estimated impact for next week (June 4 to June 10, 2026) is 40,000 tons. A new steel mill in North China underwent maintenance this week.

For electrolytic aluminum, aluminum prices first rose and then fell, with the average weekly price slightly increasing month-on-month. The processing fees for domestic 6063 aluminum rods fluctuated within a range. In the Foshan market, there was a clear sentiment to support prices, with holders quoting firmly, but buyer acceptance was poor, leading to frequent price reduction operations. In the East China market, quotes were chaotic, with small-diameter rods being relatively tight in supply and quoted at higher prices. Overall spot trading of aluminum rods was average, with downstream enterprises showing a strong wait-and-see sentiment. On the supply side, weekly production of aluminum rods still decreased last week, but the decline narrowed month-on-month. Some previously halted enterprises gradually resumed operations, and weekly production of aluminum rods may shift from a decrease to an increase in the future. The profile market showed no significant improvement, with enterprises only making essential purchases at reduced prices. In the short term, the rise in processing fees is mainly due to supply contraction and falling aluminum prices, with insufficient demand support. As reduced or halted rod factories resume and increase production, supply will increase. If aluminum prices rise again, processing fees may face downward pressure.

For electrolytic copper, the inventory of electrolytic copper in the domestic market last week was 250,100 tons, a decrease of 12,000 tons from May 28 and a decrease of 5,500 tons from June 1. Social inventory in the Shanghai market continued to decline due to a weakening import price ratio, reduced inflow of imported copper from customs clearance, and limited arrivals of domestic goods. Copper prices remained high, and downstream procurement demand was average, showing an overall destocking trend. It is expected that arrivals will be difficult to increase this week, and falling copper prices may stimulate downstream restocking, leading to a continued slight decline in inventory. Last week, the center of gravity of copper prices moved up, and the premium/discount spread between Shanghai and Guangdong spot prices narrowed. Downstream players still had a fear of high prices, replenishing inventory when copper prices fell. The spot discount narrowed, and social inventory decreased. This week, copper prices are running high, leaving limited room for downstream consumption growth. As the delivery month approaches, holders are firm on prices and reluctant to sell, and the spot premium/discount is expected to stabilize and rise.

In the shipping market, shipbroker Xclusiv pointed out in its latest weekly report that the core structural contradictions in the current shipping market are mainly reflected in the aging fleet, the retention of old capacity, and the imbalance in the pace of ship scrapping and renewal. Both the tanker and dry bulk fleets are aging year by year, but the rate of clearing old capacity varies significantly. There are still 927 old tankers in operation globally, accounting for 11.6% of the global tanker fleet. In contrast, only 65 dry bulk vessels are operating beyond their service life, accounting for 0.4% of the fleet.

The China export container transport market continued to improve. As of June 5, the Shanghai Containerized Freight Index (SCFI) stood at 2726.48 points, up 6.0% from the previous period. On the European route, overall transport demand was stable, with tight space supply, and spot booking prices continued to rise. The market freight rate (including ocean freight and surcharges) from Shanghai to European basic ports was $2,605/TEU, up 5.3% from the previous period; the rate to Mediterranean basic ports was $3,832/TEU, up 2.2%. On the North American route, the supply-demand fundamentals were solid, and freight rates continued to rise. The rate from Shanghai to the US West Coast rose 9.7% to $4,552/FEU; the rate from Shanghai to the US East Coast rose 7.7% to $5,741/FEU, with a spread of $1,189. In the Persian Gulf route, the geopolitical situation was relatively stable, but the transport market has not fully recovered, with spot rates rising slightly. The rate from Shanghai to Persian Gulf basic ports was $4,615/TEU, up 3.4% from the previous period.

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