Copper:

Today, the recycled copper price in Foshan market stopped falling and picked up, and the transaction picked up accordingly. Although the market has high expectations for "Golden September and Silver October", the phenomenon of "not prosperous in the peak season" in copper market transactions is quite prominent at present. It is expected that the short-term copper price will remain high and fluctuate. According to copper manufacturers, the current order quantity has not changed much, and the sales of finished products are not good. Therefore, we will still maintain a cautious attitude in purchasing goods, and mainly purchase on demand. In the last month of the third quarter, the liquidity expectation tightened, which may suppress the spot transaction to some extent. However, at present, the fundamentals of copper market are still preferred, while the tight import supply of recycled copper will continue, and the market will follow the macro mood to run in a range of shocks, and SHFE copper is expected to return to a strong trend again.

Aluminum: Today, the aluminum price in Foshan market has not changed much, but the trend is relatively weak, which is mainly affected by factors such as the tightening liquidity of quarterly settlement and weak orders. After entering the peak season, the social inventory of short-term aluminum ingots still shows no obvious signs of going to the warehouse, and the market is facing some new investments to be put into production one after another, which puts pressure on the short-term aluminum market. Most of the holders ship at a small discount, while the manufacturers purchase according to their needs.

Zinc: Today, the zinc price in Foshan market rebounded strongly, and the bullish sentiment in the market warmed up. The purchasing activity improved last weekend, and the cargo holders actively cooperated with the shipment, and the overall trading atmosphere performed well. This week, the Federal Reserve announced its interest rate decision and announced its economic forecast, which may bring turmoil to zinc prices. The overall global easing policy has not shrunk, and zinc prices are still bullish in the medium term.

Stainless Steel: Today, the price of waste stainless steel in Foshan market stopped falling and picked up, driven by the reddening of nickel price. At present, stainless steel merchants have raised their product quotations one after another, which stimulates the waste stainless steel market to keep up with the rising atmosphere, and some buyers actively pursue high prices and compete for the supply of goods. Short-term nickel price change is regarded as the weather vane of stainless steel market, and it is expected that scrap price will be adjusted frequently. (Source: Lingtong Metal Information)