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Metal scraps performances in Foshan market on January 16
2019-1-16

Copper:

Today, the price of recycled copper in Foshan market has risen slightly. The macro-level signs of recovery have brought optimism to the market, and copper trading has been improved slightly. With the approaching of the Spring Festival, the demand of copper market is weakening day by day. At present, many factories and enterprises have reported a sharp reduction in orders, and workers' vacation days are expected to be ahead of schedule. When to prepare materials has become their most concerned topic at present. Copper price is still in a relatively low level recently, but there are signs of warming up. It also attracts many copper manufacturers and traders to inquire for goods. However, due to tight supply and difficulties in replenishment, most of the holders are reluctant to sell. The price is relatively strong, replenishment at low prices is not so easy, so copper trading is cautiously positive. On the whole, the operators are still optimistic about the short-term copper price. In the short term, we need to pay attention to the impact of pre-holiday stocks on the copper price.

 

Aluminum: Aluminum price in Foshan market has finally stopped falling and rebounded today. Although the increase is limited, it has boosted market confidence. Near the Spring Festival, demands of aluminum markets are obviously weakening, and some businessmen intend to prepare adequate materials at the current low level, which coincides with the rebound of aluminum prices, and the inquiry atmosphere is obviously warming up. Short-term aluminum prices or continue to be supported by the demand for spare materials, there is still room to rise.

 

Zinc: The price of zinc in Foshan market has risen slightly today. Smelters continue to keep active delivery, but the higher price of zinc further aggravates the wait-and-see atmosphere in the market. Near the Spring Festival holidays, the demands of zinc producers have significantly weakened, while manufacturers still lack confidence in the short-term trend of zinc prices, fearing that prices still have room to fall, so they are still dominated according to orders, while traders maintain light warehouse operations.

 

Stainless steel: Today, scrap stainless steel slightly increased driven by the continuous rise in nickel prices in the Foshan market. The demand of steel mills has obviously weakened due to end of the year, but the demand of recycling traders for pre-season materials still exists. Therefore, in the current warming of scrap stainless steel prices, most recyclers actively enter the market to inquire for goods, and some of them actively raise the buying price of their products, as a result there is a marked improvement in transactions. (Source: Lingtong Metal Information)

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