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Metal scraps performances in Foshan market on November 14
2018-11-14

Copper:

There has been slight overall change in the regenerated copper price in Foshan market today. Since the peak in early November fell back, there has still been no improvement so far, making the market more worried. In the current situation of poor orders and tight funds, copper manufacturers are still watching carefully, and traders' enthusiasm for trading has also cooled significantly. However, the copper recyclers still have hope for the short-term market. After all, due to the influence of environmental protection and import policies, the domestic supply of recycled copper is in constant shortage, which supports the recycled copper against falling. By the end of this year, the import of seven categories of scrap will be banned, and then the supply of recycled copper will be even more scarce. Where will this missing copper supply be replaced? The dealers believe that the import volume of the six categories of scrap is expected to increase, the recovery volume of domestic scrap copper will increase, and the amount of electrolytic copper will increase as well.

 

Aluminum:

Today, the price of aluminum in Foshan market has not changed much, and the overall fluctuation continues to be slight. Although Shanghai aluminum dropped to 13,660 yuan recently from 15,150 yuan at the end of August and the beginning of September, the cumulative decline has been nearly 1500 yuan, but it is still difficult to attract the attention of bottom-breaking funds. The cost effect is superimposed on the reduction of production and maintenance of aluminum enterprises. There is limited space for aluminum prices to fall in the short term, but the supply pressure in the medium term is greater and it is not conducive to aluminum prices.

 

Zinc:

Today, the price of zinc in Foshan market dropped slightly, the short-term trend showed shock, and the confidence in market transactions was insufficient. At present, traders are still cautious in purchasing goods, and the light warehouse operation is the main one. The downstream zinc manufacturers are still concerned that there is still room for short-term zinc prices to decline and continue to purchase on demand under the condition of insufficient orders. The overall market volume is relatively limited, and it is expected to remain volatile in the short term.

 

Stainless steel:

Today, the price of scrap stainless steel in Foshan market dropped slightly, and the falling of nickel price once again shattered the desire for a rebound in the stainless steel market. At present, the purchase price of scrap stainless steel in steel mills is still low, and recyclers conveniently press down the price to purchase, but the mentality of suppliers is strong and the transaction is deadlocked. It may be difficult to change this state in s short term, waiting for nickel price guidance. (Source: Lingtong Metal Information)

 
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2024-3-27
Item
SHFE
Change
Cu
285090
-1305
Al
199757
-6660
Zn
121873
+2289
Item
LME
Change
Cu
113100
-4300
Al
556525
+750
Zn
263550
-2450
Ni
76836
-240
2023-5-15
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