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Metal scraps performances in Foshan market on March 25
2019-3-25

Copper:

Today, the price of recycled copper in Foshan market continues to drop sharply, and the cautious mood in the market is rising. At present, the most concerned topic in the market is how electrolytic copper will evolve over 1,000 yuan of ultra-high premium, and how copper prices will go after the implementation of value-added tax reduction measures in April. Faced with a sharp correction in the current copper price, downstream copper producers are generally worried that there is still room for a reduction in the short-term copper price. They are still cautious and wait-and-see, and are less motivated to purchase. However, because of the tight supply of goods and the better expectation of high season demand, recycled copper manufacturers still insist on their bid. As for the trend of copper price in the second quarter, the mainstream market views are relatively consistent, believing that copper price will further strengthen. Judging from historical experience, the second quarter is usually the peak season for the copper market, and prices tend to rise.

 

Aluminum:

Today, the price of aluminum in Foshan market fell slightly, but the premium remained high. 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 aluminum ingots. The stock of aluminum ingots in Guangdong has dropped back to below 400,000 tons.

 

Zinc:

Today, the price of zinc in Foshan market is strong. Smelters and shippers continue to deliver their products at high prices. The wait-and-see atmosphere in the market remains unchanged. Traders are more cautious in receiving goods, and most of them operate in light warehouses. They usually enter the market to inquire about the goods after receiving orders.  Downstream zinc producers still have doubts about whether the zinc market will continue to rise after the start of the year, mostly watching. The overall market is still weak.

 

Stainless steel:

Nickel price continues to decline, and continues to put pressure on the stainless steel market. In recent days, steel mills have repeatedly lowered their purchase prices, which has dealt a blow to the confidence of the market. At present, recycling traders are generally taking advantage of the trend to lower their prices and receive goods. The market has a strong atmosphere of lowering prices and the volume of transactions is limited. (Source: Lingtong Metal Information)

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