Metal Scrap Performance in China Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on May 23
2019-5-23

Copper:

Today, the price of recycled copper in Foshan market further dropped sharply, and the market tends to be cautious in trading. Overnight macro pessimism spread further, and U.S. infrastructure projects suffered another setback. Affected by this, non-ferrous metals remained weak and copper prices continued to bottom out. Today LME Copper continued its decline, falling as low as 5,888 U.S. dollars in intraday trading. The continuous decline for nearly a month has severely depressed market trading confidence, and copper prices in both cities have both fallen in the domestic market. In the spot market, due to the recent general weakening of copper rod orders and the recent continuous decline in copper prices, copper manufacturers are mostly cautious in purchasing, with demand for electrolytic copper and scrap copper shrinking. However, the price of scrap copper is still firm due to the shortage of supply, while the price of electrolytic copper continues to be quoted at a premium.

 

Aluminum:

Today, the price of aluminum in Foshan market continued to perform smoothly, and the holders maintained a small margin of discount for shipment. At present, the maintenance of inventories during the peak consumption season and the sharp rise in alumina prices pushing up the cost of the aluminum market have all supported the short-term aluminum price. The situation of strong inside and weak outside is still maintained. However, if the short-term aluminum falls further, the spot aluminum price may fall under pressure.

 

Zinc:

The pressure on the price of zinc in Foshan market continues to drop today, and the market is still cautious. Traders are still cautious about short-term zinc prices, fearing that there is still room for prices to fall, mainly in light positions. The enthusiasm of zinc producers is not good enough, but once the zinc price falls back by a large margin, some zinc producers will be attracted to enter the market to make a copy and replenish.

 

Stainless steel:

The price of waste stainless steel in Foshan market has not changed much today, showing relatively resistance to drop. The drop in nickel price has limited impact on the price of waste stainless steel. At present, the supply of waste stainless steel in circulation on the market is relatively small, and the traders are willing to support the price. At present, steel mills are more enthusiastic in purchasing, which has led recycling traders to join the purchasing ranks, thus supporting prices. (Source: Lingtong Metal Information)

WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free!