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Metal scraps performances in Foshan market on Dec 11

Copper: Today, the price of recycled copper in Foshan market continues to rise, but the increase has obviously narrowed. At present, the market mainly focuses on the Federal Reserve's interest rate discussion. This week, copper prices bottomed out and rebounded, ushering in a long-lost rally. However, many businesses are worried that the current economic and trade situation is complicated and changeable, and there is still uncertainty in the macro aspect. The market should remain cautious. Against the background of limited positive benefits, it is inappropriate to be too optimistic about the rebound of SHFE copper in this round, fearing that SHFE copper in the future market will go out of the surge and fall back. The spot copper market showed cautious operation, settlement funds continued to intensify at the end of the year, and factory enterprises purchased less. Apart from some annual demand, there was little hand-to-hand stock preparation. The supply of recycled copper continues to be in short supply, and the price demanded by the dealers is firm, but the sales situation is still poor.


Aluminum: Today, the aluminum price in Foshan market continues to rise slightly, mainly driven by the rising copper price, while the aluminum market's own support is not obvious. The analysis shows that the bullish mood of electrolytic aluminum depopulation is basically digested, and the price of aluminum lacks the motivation to further increase under the background of the continuous downward trend of the cost side. In the short term, the price of aluminum fluctuates strongly. At present, most aluminum enterprises mainly withdraw funds and demand less orders.


Zinc: Today, the zinc price in Foshan market fell further and the short-term trend continued to be weak. At present, the supply of zinc ingots in Guangdong is abundant, and the delivery of zinc ingots by the holders is positive. The pressure on the spot premium has dropped rapidly. Traders are obviously cautious in purchasing goods, and light warehouse operation is the main factor, while zinc manufacturers have a strong fear of falling. They mainly purchase goods according to orders, further weakening traders' enthusiasm in receiving goods and making the transaction dull.


Stainless Steel: Today, the price of waste stainless steel in Foshan market is rising again, driven by the rebound of nickel price. LME nickel fell below the US$ 13,000 mark and then bottomed out and rebounded, pulling the stainless steel market sentiment back from the brink of collapse and pushing prices higher again. The price of scrap stainless steel has followed the rise, but the market transaction has fallen into a stalemate, and the low-price transaction no longer exists.

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