Copper:

The price of regenerated copper in Foshan market is generally stable today. Weak economic data has warmed up the anxiety of market and weakened the rising of the price. As the Spring Festival holiday is coming, it is obviously decreased orders for factories and enterprises, and gradually increased the phenomenon of workers' spring festival holidays. The demand in the copper market is expected to further weaken. However, the current price of copper is at a low level, which still attracts many businesses to increase the quantity of stocking before holiday, so the trade has improved to a certain. Due to the lack of imported recycled copper supplement and the limited supply of domestic recycled copper, it is increasingly in short supply of recycled copper in domestic market at present. It is not easy for manufacturers to bottom fishing at a low price due to their strong mentality of holding goods at a low price and insisting on asking the strong price. On the whole, the copper market is still cautiously optimistic for the short-term copper price. In the short term, it is needed to give attention to the impact of pre-holiday stock preparation scale on the copper price.

Aluminum: Today, the price of aluminum in Foshan market continues to fall slightly, and the short-term trend continues to be weak. The central bank RRR cuts today with limited support. Weak economic data continued to depress the price of aluminium. As the coming of the Spring Festival, it has significantly weakened for the demand in the aluminium market, and some businesses intend to get the appropriate material ready at the current low level, but in the current price of aluminium has not stopped the signal of falling, it is still cautious to wait and see.

Zinc: Today, the price of zinc in Foshan market fluctuated up, but the wait-and-see atmosphere in the market remains unchanged. As the Spring Festival holiday is coming, downstream zinc producers are gradually shutting down production. It is expected to further weaken for market demand. Buyers generally have a fear of falling mentality. Therefore, they are more cautious in purchasing and mainly purchase on demand. The situation of high premium inhibits the enthusiasm of trading. Traders maintain low inventory and wait for the opportunity to replenish.

Stainless steel: Today, stainless steel scrap continues to trade at a stable price in Foshan market. The rebound of nickel price in recent has led to an improvement in the trading atmosphere in the scrap stainless steel market. However, steel mills are not willing to follow up with the increase and replenishment after the early period of active purchasing, and the order volume has decreased. Therefore, the recyclers of stainless steel scrap are gradually cautious in collecting goods and the overall improvement in trading volume is limited. (Source: Lingtong Metal Information)