Copper:

The regenerated copper price in Foshan market rose slightly today, and the market recovered somewhat. Although demand in the copper market is still weak at present, many operators believe that the bottom support of copper price is still strong after recent shocks and adjustments. If the U.S. dollar index remains further weak, copper prices are expected to continue to rebound, so the dealers are cautiously optimistic about the short-term copper price trend. Entering the middle of November, the market was very concerned about the progress and impact of abolishing the seven prohibitions. As a matter of fact, due to environmental protection and customs duties, the import volume of domestic recycled copper decreased significantly in the second half of this year, and the Guangdong market's recycled copper processing plant is facing a severe shortage of supply. At present, many businesses have increased the recycling of domestic recycled copper, while some businesses have switched to Southeast Asian market for development, but the supply is still limited.

Aluminum:

Today, the price of aluminum in Foshan market dropped slightly, and the overall trend is still weak. Although Shanghai aluminum dropped to 13,610 yuan recently from 15,150 yuan at the end of August and the beginning of September, the cumulative decline has exceeded 1500 yuan, however, it is still difficult to attract the attention of 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 has not changed much, maintaining a narrow range in the short term, highlighting the lack of market confidence. At present, smelters still hold a bearish attitude towards the short-term zinc price trend, with outgoing as main, while traders are accompanying the market to replenish their stocks. Due to poor orders, the purchase volume is quite limited. There is a phenomenon that the downstream zinc manufacturers are buying at low prices, but the overall purchase volume is still low.

Stainless steel:

Today, the price of scrap stainless steel in Foshan market is flat, but the weak price of nickel has caused great psychological pressure on the stainless steel market and the transaction is obviously depressed. At present, the sales of steel products are not good, the price of raw materials has been repeatedly reduced, and the recyclers have taken advantage of the situation to receive goods at reduced prices. However, it is difficult to conclude a deal, the suppliers have a strong mentality of holding back the sale, and the buyers and sellers are deadlocked. (Source: Lingtong Metal Information)