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Metal scraps performances in Foshan market on March 26
2019-3-26

Copper:

Today, the price of recycled copper in Foshan market continues to decline, but the decline has slowed down obviously, and the cautious mood in the market has not yet subsided. 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. Although the traditional consumption peak season is approaching, the demand in the copper market still shows no obvious improvement. At a time when the copper price is recovering from a high level, downstream copper manufacturers 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 in the majority, 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.

 

Aluminum: Aluminum Prices in Foshan Market Continue to fall slightly today. As the implementation period of the new VAT tax reduction policy approaches, many manufacturers are slowing down their shipments, resulting in a decrease in the supply of goods on the market, and the spot aluminum price continues 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 rising again. Smelters and shippers continue to deliver at a reasonable price. However, middlemen and traders are worried about the price trend of zinc in the future market. Large quantities of zinc are still not available. They reflect that the downstream zinc suppliers are still less motivated to purchase zinc and lack confidence in the price of zinc in the future market. Most of them maintain on-demand purchasing, so they are still operating mainly in light warehouses.

 

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 market transactions. At present, recycling traders are generally taking advantage of the trend to lower their prices to receive goods. The prices quoted by manufacturers and the prices received by recyclers are even at the same level. The bargaining between manufacturers is deadlocked.  (Source: Lingtong Metal Information)

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