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Metal scraps performances in Foshan market on May 21
2019-5-21

Copper:

Today, the price of recycled copper in Foshan market continued to perform steadily. The overall price of copper futures did not change much, and the guidance on spot copper prices was limited. At present, the market is very concerned about the import of scrap copper in the market. According to the news, starting in July, Category 6 recycled copper needs to apply for approval to import, and the requirements for applying for enterprises are also stricter. It is reported that the establishment of the first batch of scrap copper import approval enterprises has been delineated by reference to the actual amount of imported copper scrapped by the enterprise last year. The environmental review work will once again remove the qualifications of some enterprises. The market expects temporary copper tension in the supply of scrap copper from late June to the end of July. At that time, the demand for electrolytic copper may further increase. At present, the copper in the Guangdong market maintains the price of premium.

 

Aluminum:

Today, the overall price of aluminum in Foshan market has not changed much. The current fundamentals of the aluminum market tend to be positive, so the industry is still bullish on short-term aluminum prices. Affected by environmental factors, some alumina production capacity in Shanxi is facing production suspension. Nearly 5% of the alumina production capacity in the country will be directly affected. It is expected to push alumina prices to continue to rise, and rising costs will support aluminum prices.

 

Zinc:

Today, the price of zinc in the Foshan market continued to fall slightly, and the market was still cautious. Zinc prices have fallen back to the current price level, attracting some merchants to enter the market to replenish the goods, but the downstream zinc manufacturers are not interested in purchasing goods, and they are still mainly on-demand purchases, because there is still room for further decline in short-term zinc prices.

 

Stainless steel: Today, the price of scrap stainless steel in Foshan market continued to perform steadily, and the rebound in nickel prices supported the stabilization of scrap stainless steel prices. At present, the supply of waste stainless steel circulating in the market is relatively small, and the holders are reluctant to sell their minds. There is a very strong will of holding the price, and there is basically no transaction in the low price range. The scrap stainless steel recycling traders are only forced to raise prices.  (Source: Lingtong Metal Information)

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