Copper:

Today, the recycled copper price in Foshan market has further increased slightly, and the market bullish confidence has been enhanced. At present, the bullish factors in the copper market are concentrated, the LME copper stocks continue to be low, China's demand is expected to be good, and the US dollar index weakens, which attracts capital into the copper market. Short-term LME copper may be expected to test the US$ 7,000 mark. However, at the end of the quarter, the liquidity of funds tightened or trading in copper market was restricted, so the increase of copper price may be limited. On the spot side, despite the strong bullish sentiment in the market, it is still cautious in operation. At present, the import of recycled copper fails to comply with the new regulations as expected, but continues to extend the import of subsequent remaining approvals. The tight supply will continue to support the copper price. As the National Day holiday approaches, high copper prices may restrict the enthusiasm of copper enterprises to purchase raw materials.

Aluminum: Today, the increase of aluminum price in Foshan market has slowed down, and the price has only slightly increased. At present, the domestic aluminum market continues to destock. Today, the domestic social inventory of electrolytic aluminum has dropped by 5,000 tons to 735,000 tons compared with last Thursday, which still supports the short-term aluminum price. As the National Day holiday approaches, materials will be prepared before the holiday or the consumption of aluminum ingots will be accelerated. It is expected that the price of aluminum will fluctuate strongly before the holiday.

Zinc: Today, the zinc price in Foshan market fluctuates at a high level, and there is a strong atmosphere of fear of heights in the market. Traders are extremely cautious in receiving goods. Most of them make inquiries only after receiving orders. Downstream manufacturers are hesitant about the future zinc price, and most of them mainly wait and see. Their purchasing enthusiasm is not high, and the overall market transactions are still weak. The global easing policy continued, and the zinc price remained bullish in the medium term.

Stainless Steel: Today, the price of waste stainless steel in Foshan market continues to be stable. Recently, the weak performance of nickel price has greatly increased the pressure on the stainless steel market. Although the manufacturers still try their best to stand the price, most of the demand side people wait and see, and the transaction is light. Waste stainless steel industry expressed concern about the market outlook, and the transaction was deadlocked. The market expects that the short-term stainless steel market is still dominated by slight adjustment.  (Source: Lingtong Metal Information)