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Metal scraps performances in Foshan market on March 21
2019-3-21

Copper:

Today, the price of recycled copper in Foshan market rose slightly, and the market trading atmosphere improved. Influenced by import restrictions and environmental protection scrutiny, the domestic supply of recycled copper continues to be tight and the price charged by commodity holders is firm. Traders generally expect that the copper price is still expected to rise further with the arrival of the consumption peak season. In addition, the large price difference between electrolytic copper and recycled copper has also attracted many businesses to purchase in the market. However, buying gas for electrolytic copper is slightly inferior. At present, the price of electrolytic copper in Guangdong market still maintains a relatively large premium. The operators are worried that this situation will not be sustainable, so they are cautious in purchasing, thus accumulating electrolytic copper stocks. At present, the market is mainly concerned about the actual impact of the implementation of the VAT tax reduction policy on the copper market.

 

Aluminum: Today, the price of aluminum in Foshan market continues to rise slightly and the short-term trend is on the strong side. Affected by the tax reduction measures, many manufacturers have slowed down their shipments, which has led to a decrease in the supply of goods on the market. Spot aluminum prices continue to rise sharply. At present, aluminum manufacturers are relatively active in purchasing, and the existing aluminum stocks in Guangdong have been digested to a certain extent, with goods holders offering small premium prices one after another.

 

Zinc: Today, the price of zinc in Foshan market continues to rise, and the spot premium has narrowed. Smelters and traders maintain a positive attitude towards delivery, but downstream zinc manufacturers are very cautious in receiving goods. Some traders reported that after the price of zinc rose, especially after the occurrence of high water prices, downstream zinc manufacturers were obviously cautious in purchasing. They were generally afraid of high prices and their trading volume was limited.

 

Stainless steel: As nickel prices stop falling and pick up, worries in the scrap stainless steel market have eased, but actual market transactions have not changed significantly. At present, the phenomenon of steel mills' purchasing price reduction is still quite common. The market even has the situation that the purchasing price of steel mills is equal to the receiving price of recycling traders. The transaction is deadlocked and the market is waiting for the turning point to appear.  (Source: Lingtong Metal Information)

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