Copper:

Today, the recycled copper price in Foshan market fell slightly, and some of the increase was reversed, and the cautious attitude of the market was enhanced. Under the impact of the second wave of global epidemic, European and American stock markets were greatly sold off. overnight, LME copper plunged to a low level of US$ 6,655, and rebounded to above US$ 6,700 this morning, which made the decline of domestic copper market relatively limited. Despite entering September, the phenomenon of poor peak season is quite prominent. Recently, faced with the sharp rise in copper prices, copper manufacturers are obviously cautious in purchasing goods, and most of them hold down prices or wait and see. When the copper price falls, when the supply of recycled copper is tight, the holders are reluctant to sell and the transaction is deadlocked. At present, the supply of recycled copper is in short supply or ceiling price is declining, while electrolytic copper is in a state of discount.

Aluminum: Today, the aluminum price in Foshan market dropped slightly, and entered the final cycle of quarterly closing. On the premise that the spot aluminum price increased significantly, most of them were mainly purchased on demand, with a strong wait-and-see attitude. Recently, the trend of aluminum price fluctuates, which may easily lead to profit-taking. It is expected that the short-term trend will still be repeated before the National Day, but there is not much room for downward movement. Prepare materials before the holiday or provide support.

Zinc: Today, the zinc price in Foshan market fell again. Traders were more optimistic about the short-term zinc trend after the zinc price fell, and accordingly they were more active in purchasing goods. The purchasing intention of downstream materials manufacturers improved, and the market transactions improved compared with yesterday. The global easing policy continued, and the zinc price remained bullish in the medium term.

Stainless Steel: The price of waste stainless steel in Foshan market fell slightly today. Recently, the weak performance of nickel price has greatly increased the pressure on the stainless steel market, and the mentality of the stainless steel market has suffered a setback, and the market trading atmosphere has turned to wait and see. Waste stainless steel recycling traders have followed the downward adjustment of the receiving price, and the market risk aversion has risen sharply. (Source: Lingtong Metal Information)