Copper:

Today, the regenerated copper price in Foshan market continues to rise slightly, and the market sentiment continues to rise. Although demand in the copper market is still weak, this week's low rebound in copper prices has brought some confidence to the market, and the dealers generally believe that the bottom support of copper prices is still strong. If the short-term dollar index continues to recover, copper prices are still expected to rise further. Entering the middle of November, the market was very concerned about the progress and impact of abolishing the seven prohibitions.In fact, due to the influence of 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 development, but the supply is still limited.

Aluminum: Today, the price of aluminum in Foshan market rose slightly, and this week it went relatively weak, with prices continuing to narrow the range of low prices. Although the price of aluminum has accumulated a big drop since the beginning of September and the risk has been released, considering the weak demand in the current aluminum market and the expected increase in the medium-term supply pressure, merchants still lack the desire to make a bottom sale and mainly purchase on demand.

Zinc: Today, the price of zinc in Foshan market is rising at a moderate rate. Suppliers are actively shipping, but traders and downstream manufacturers are cautious in receiving the goods. At present, the dealers are still worried about the trend of zinc price in the future market. After October, maintenance will reduce the demand for winter storage in overlay smelters, and zinc ingot production is expected to recover in the near future. The expected increase in zinc ingot supply may put pressure on zinc price rebound.

Stainless steel: Today, the scrap stainless steel in Foshan market continues to clinch a deal at a stable price, and the transaction is cautious, mainly because of the weak nickel price. This round of decline in nickel prices began in early July and has now been over four months, but there is still no sign of recovery, causing a heavy psychological burden on the stainless steel market. At present, the phenomenon of steel mills and recyclers pressing prices is still common, but it is difficult to conclude a deal. (Source: Lingtong Metal Information)