Copper:

The price of recycled copper in Foshan market fell across the board today. For the first time since this year, overnight LME Copper once fell below the important support level of US$ 6,000, triggering a rise in worries in the market.  Today's market is facing two major risk events. One is the speech by European Central Bank President Delacquis and the other is the meeting minutes to be released by the Federal Reserve. If the minutes of the Federal Reserve meeting release doves' signals, the dollar will be suppressed and metal is expected to rebound.  In addition, the current market is very concerned about the import of scrap copper in the future.  According to sources, environmental protection review of import approval documents for scrap copper tends to be strict. The market expects temporary shortage of scrap copper supply from late June to the end of July, when the demand for electrolytic copper may further increase. At present, the price of electrolytic copper in Guangdong market remains at a premium.

Aluminium:

Today, the aluminium price in Foshan market continues to perform smoothly. The maintenance of stocks during the consumption season and the sharp rise in alumina prices, which has pushed up the cost in the aluminium market, have all brought support to the short-term aluminium price. The situation of strong inside and weak outside is still maintained. However, if aluminium falls further in the short term, the spot aluminium price may fall under pressure.

Zinc:

Today, the price of zinc in Foshan market has stabilized, but the cautious mood in the market will not change. Zinc prices fell back to the current level, attracting some businesses to enter the market to copy the bottom and replenish the stock, thus forming an anti-drop support for zinc prices. However, downstream zinc manufacturers are still reluctant to purchase and mainly purchase on demand. They are still worried that there is still room for further decline in short-term zinc prices.

Stainless Steel:

Scrap Stainless Steel Prices Rise Slightly in Foshan Market Today. At present, the supply of waste stainless steel in circulation on the market is relatively small, and the dealers have a strong mentality of being reluctant to sell and a strong willingness to support prices. At present, steel mills are more enthusiastic in purchasing, which has led recycling traders to join in the purchasing ranks. They have increased the receiving price to promote the transaction and pushed up the price slightly.  (Source: Lingtong Metal Information)