Metal Scrap Performance in China
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Metal scraps performances in Foshan market on March 11
2024-3-11
Copper: spot copper in Foshan market fell slightly today. Last week, copper tested the 70,000 mark again, but the price increase suppressed the spot trading to some extent. According to copper traders, manufacturers have been cautious about purchasing recycled copper and electric copper since 2000. Since the electric copper entered March, the normal consumption cost has not increased, which shows that the inventory has continued to increase. However, the tight supply of recycled copper and the upside-down import still show the phenomenon that the buyer keeps the price down but the middleman receives the high price. From all aspects, traders are still optimistic about the general direction.
Aluminum: The price of aluminum in Foshan market dropped slightly today. In the last cycle, after aluminum rose above 19,000, the profit declined slightly. Aluminum manufacturers were cautious in purchasing or digested their stocks to make profits, and the current aluminum price continued to be slightly discounted. Judging from the current situation, the real estate industry continues to be under the pressure of small news after the year, and the aluminum market has not been active since the year. Most manufacturers purchase on demand. Although the signals released by the two sessions are good, it will take time to confirm, and it is expected that the price trend will still be slightly oscillating.
Zinc: The upward momentum of zinc is weakened, and it is in a high position and fluctuates in a narrow range. Traders are more cautious in receiving goods, mainly maintaining existing inventory operations. The downstream materials manufacturers are more afraid of heights, and their purchasing enthusiasm is not high. They purchase in small quantities according to orders, and the overall market trading atmosphere is average.
Stainless Steel: The price of peripheral nickel fluctuated and approached the $18,000 mark, the domestic market weakened, the stainless steel futures fell, the trading atmosphere in the spot market was cautious, the manufacturers in the scrap industry coordinated their operations due to the situation, the receiving price generally adjusted back, and the transaction of goods sources was not smooth. (Analyzed by LTIT)
Aluminum: The price of aluminum in Foshan market dropped slightly today. In the last cycle, after aluminum rose above 19,000, the profit declined slightly. Aluminum manufacturers were cautious in purchasing or digested their stocks to make profits, and the current aluminum price continued to be slightly discounted. Judging from the current situation, the real estate industry continues to be under the pressure of small news after the year, and the aluminum market has not been active since the year. Most manufacturers purchase on demand. Although the signals released by the two sessions are good, it will take time to confirm, and it is expected that the price trend will still be slightly oscillating.
Zinc: The upward momentum of zinc is weakened, and it is in a high position and fluctuates in a narrow range. Traders are more cautious in receiving goods, mainly maintaining existing inventory operations. The downstream materials manufacturers are more afraid of heights, and their purchasing enthusiasm is not high. They purchase in small quantities according to orders, and the overall market trading atmosphere is average.
Stainless Steel: The price of peripheral nickel fluctuated and approached the $18,000 mark, the domestic market weakened, the stainless steel futures fell, the trading atmosphere in the spot market was cautious, the manufacturers in the scrap industry coordinated their operations due to the situation, the receiving price generally adjusted back, and the transaction of goods sources was not smooth. (Analyzed by LTIT)
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