Copper:

Today, the recycled copper price in Foshan market resumed its upward trend, but in the face of the sudden increase in copper price, the market trading sentiment was cautious. For the recent phenomenon of rising and falling, copper enterprises tend to be cautious in operation. When the price rises, they wait and see, while when the price falls, they are more motivated to buy goods. As of Monday, the inventory of electric copper in Guangdong continued to increase to over 80,000 tons. Judging from the continuous increase, the demand for copper in Guangdong market is still insufficient. In addition, the new import regulations of recycled copper and the delay in import operation continue to cause continuous tension in the market supply, which can be seen from the reluctance of the holders to sell when the price drops. It is reported that waste recycling enterprises report that the transaction premium for purchasing some high-quality waste materials has risen, and they need to take the initiative to find waste copper suppliers, preferring the seller's market.

Aluminum: Today, the aluminum price in Foshan market rose sharply. Driven by the sharp rise in aluminum, the main force of SHFE aluminum rose to 14,640 yuan this morning. Judging from the recent situation, the trend of aluminum price has been repeated in early September, but the momentum is slightly weak, which is also in line with the purchase mentality of users. At present, the national social inventory of aluminum ingots continues to be at a low level of about 750,000, which will support the subsequent aluminum market.

Zinc: Today, the zinc price in Foshan market was weak, which did not follow the sharp increase in copper and aluminum prices. Most downstream manufacturers and traders kept a cautious attitude and did not replenish stocks in large quantities. Market participants said that the current performance of zinc price is too poor, and it is expected that the possibility of short-term rebound of zinc price will be further weakened. They are worried that zinc price will continue to drop, and fear of falling over the market leads to dull spot trading.

Stainless Steel: Today, the price performance of waste stainless steel in Foshan market is stable, and the stable performance of nickel price has limited guidance on stainless steel price, and the short-term price may mainly fluctuate in the range. Affected by the callback of the purchase price of steel mills, most buyers of waste stainless steel received the goods carefully at a lower price, which formed a stalemate with the reluctance of the goods holders to sell. Traders believe that as long as nickel price stabilizes, scrap market can still be expected. (Source: Lingtong Metal Information)