Metal Scrap Performance in China
Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on September 28
2022-9-28
Copper: The price of secondary copper in Foshan market is stable today. At present, the pressure on the copper market mainly comes from the soaring of the US dollar index. Today, the US dollar index has once again reached a 20-year high of 114.68 points. The pressure on LME copper continues to fall, with the lowest intraday price falling to USD 7,222, which is 33% lower than the record high of USD 10,845 per ton set in March. Although it is approaching the National Day holiday, the preparation of materials before the holiday is still not active, and copper factories and enterprises are generally bearish on the market outlook. Therefore, after the price partially drops, they only choose to purchase on a quarterly basis, and the market transactions are still dull. Analysts said that the outlook for metals seems weak, and it is very vulnerable to the deteriorating demand situation. It is expected that copper will still have the opportunity to test the 60,000 mark in the short term.
Aluminum: Today, the aluminum price in Foshan market continues to fall sharply. Before the holiday, the domestic aluminum price continued to fall under the pressure of international news, that is, monthly aluminum once tested the 18,000 mark, and the amount of materials prepared by aluminum factories and enterprises increased after the price dropped before the holiday. However, the recent demand situation also affected the market mentality. It is expected that the price trend before the holiday will fluctuate with the above support level.
Zinc: Today, the price of zinc in Foshan market continues to fall sharply, and the short-term trend is weak. The wait-and-see atmosphere of the market remains unchanged. Traders are more cautious in receiving goods during this period, and most of them only make inquiries after receiving orders. The downstream manufacturers are even more worried about the zinc price in the market outlook, mostly wait and see, and their purchasing enthusiasm is not high. Therefore, most of the trading investments are made by traders, and the overall transaction is dull.
Stainless Steel: Nickel price declined and the price of stainless steel followed the weak downward trend. As the National Day holiday is getting closer and closer, the purchasing demand is temporarily in a slow state, the transaction in the spot market returns to a calm state, the profit margin of steel mills is compressed, the purchasing is not active, the trading mood of waste stainless steel industry is obviously cooled down, the bargaining between buyers and sellers is deadlocked, and the market is weak and stable. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market continues to fall sharply. Before the holiday, the domestic aluminum price continued to fall under the pressure of international news, that is, monthly aluminum once tested the 18,000 mark, and the amount of materials prepared by aluminum factories and enterprises increased after the price dropped before the holiday. However, the recent demand situation also affected the market mentality. It is expected that the price trend before the holiday will fluctuate with the above support level.
Zinc: Today, the price of zinc in Foshan market continues to fall sharply, and the short-term trend is weak. The wait-and-see atmosphere of the market remains unchanged. Traders are more cautious in receiving goods during this period, and most of them only make inquiries after receiving orders. The downstream manufacturers are even more worried about the zinc price in the market outlook, mostly wait and see, and their purchasing enthusiasm is not high. Therefore, most of the trading investments are made by traders, and the overall transaction is dull.
Stainless Steel: Nickel price declined and the price of stainless steel followed the weak downward trend. As the National Day holiday is getting closer and closer, the purchasing demand is temporarily in a slow state, the transaction in the spot market returns to a calm state, the profit margin of steel mills is compressed, the purchasing is not active, the trading mood of waste stainless steel industry is obviously cooled down, the bargaining between buyers and sellers is deadlocked, and the market is weak and stable. (Analyzed by LTIT)
WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free!
