Copper:

Today, the price of recycled copper in Foshan market stopped falling and rebounded, and the atmosphere of inquiry and purchase in the market was obviously warming up. However, under the circumstances of loss of goods and difficulty in replenishment, the carriers continued to strongly hold back the sale, and the volume of transactions was not released. Influenced by environmental protection and tariff policies, the import volume of domestic recycled copper has decreased significantly in 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. There is a lack of import supply supplement, while domestic supply is limited and the quality varies, the market is expected that the domestic supply of recycled copper will be more tight in the second half of the year, and the industry generally holds a bullish attitude towards the price of copper in the latter half of the year. At present, there are many copper manufacturers and traders who are interested in making bottom stock replenishment.

Aluminum: Today, the price of aluminum in Foshan market has stopped falling and recovered. Compared with the sharp decline of other metal varieties, this week's price of aluminum is quite resistant to falling, mainly supported by the reduction in supply and the cost effect. The reduction in the production of smelters in the early stage has resulted in a continuous decrease in the quantity of aluminum ingots delivered. In addition, the cost side still has a strong support for the aluminum price. The industry is expected that with the end of the off-season and the demand improving, the aluminum price is still expected to rise again.

Zinc: The price of zinc in Foshan market rose slightly today, but the wait-and-see atmosphere in the market did not change. Traders were still very cautious in receiving the goods. They basically maintained a light warehouse operation and sold the goods now ( i.e. they asked for quotations after receiving orders ). However, downstream zinc producers are still very worried about the trend of zinc prices in the aftermarket. Most of them are mainly on the sidelines. They are not enthusiastic about purchasing and are not willing to build large-scale inventories.

Stainless steel: Today's Foshan market saw a slight rebound in scrap stainless steel, resulting in improved market trading confidence. At present, the supply of scrap stainless steel in the Guangdong market is still quite limited, and the attitude of those who hold the goods is very strong. However, in the face of a rebound in the price of scrap stainless steel, many recycling traders are interested in making bottom stock replenishment. Today, there is a high enthusiasm for making inquiries and asking for goods, and a moderate increase emerges quotation and receipt of goods emerges. (Source: Lingtong Metal Information)