Copper:

Today, the price of recycled copper in Foshan market fell sharply and the market was quiet. This round of sharp decline in copper prices was mainly suppressed by US dollar and the easing of strike worries. After the sharp drop in copper prices, all recycled copper carriers were reluctant to sell because of the serious losses on the goods and the difficulty in replenishment. Influenced by environmental protection and tariff policies, the import volume of domestic recycled copper has decreased significantly over the past year. It is said that to avoid imposing a 25 % import tariff, China's scrap copper processors and importers are eager to transfer or resell the scrap copper shipment being shipped to China from the United States. It is expected that in the market, the domestic supply of recycled copper is to be more tight in the second half of the year. At present, there are many copper manufacturers and traders who are interested in making bottom stock for replenishment, but most of them have no intention of shipping and it is difficult to make a deal.

Aluminum:

Today, the price of aluminum in Foshan market fell in a moderate range. Compared with the sharp decline of other metal varieties, the price of aluminum is quite resistant to fall. The reduction in production by the smelter in the earlier period has resulted in a continuous decrease in the delivery of aluminum ingots. Although the recent decrease has slowed down somewhat, the overall pace of reduction has not changed. In addition, the cost side still has strong support for the aluminum price, and the industry expects the aluminum price to rise again with the end of the off season.

Zinc:

The price of zinc in Foshan market plummeted today, and this week's trend is weak, thus undermining the market's trading confidence! For long, zinc market operators have a strong fear of falling. Most of them maintain a light warehouse operation, while zinc manufacturers mainly purchase on demand. Due to the continuous sharp decline in zinc prices, which has resulted in losses on the goods held, the price charged by the goods holders is relatively strong at present.

Stainless steel:

Today's Foshan market has failed to take the lead in scrap stainless steel. The price has fallen with the price of nickel. Does this signal the end of the upward trend of scrap stainless steel? At present, the market is generally expected that the subsequent purchase of steel mills will readjust the purchase price and scale in response to the decline in nickel prices. At that time, the scrap stainless steel market will enter a new round of adjustment period. (Source: Lingtong Metal Information)