Copper:

Today, the price of recycled copper in Foshan market continues to decline, and the cautious atmosphere in the market increases accordingly. At present, the high-level shock track of copper is obvious, and the failure of LME copper to stabilize after several times of up to 6,500 US dollars has created greater psychological pressure on the market. 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. At present, the purchasing power of 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. Therefore, they are cautious in purchasing and thus the electrolytic copper inventory has accumulated. The market later focused on Sino-US trade negotiations and global economic growth.

Aluminum:

Foshan Market Postpones Price Rise Today. Affected by the tax reduction measures, many manufacturers have slowed down the delivery rate, resulting in a decrease in the supply of goods on the market, with spot aluminum prices continuing to rise. At present, aluminum manufacturers are relatively active in purchasing, and the existing aluminum inventory in Guangdong has been digested to a certain extent, which is beneficial to the aluminum price.

Zinc:

Today, the price of zinc in Foshan market dropped slightly. Smelters and traders maintained a positive attitude of delivery, but downstream zinc manufacturers were very cautious in receiving the 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:

The price of nickel has fallen again, which further puts pressure on the price of stainless steel. In recent days, steel mills have repeatedly lowered their purchase prices, which has hit the confidence of market transactions. At present, recycling traders generally depress the price of goods. The market even saw steel mills' purchase price level with the recovery traders' receiving price, and the transaction was deadlocked.  (Source: Lingtong Metal Information)