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Metal scraps performances in Foshan market on May 24
2019-5-24

Copper:

Today, the price of recycled copper in Foshan market has stopped falling and rebounded, but the market sentiment is still cautious. The latest customs data show that due to the import rush effect, enterprises are worried that they will not be able to declare and import normally after July because of the lack of approval. They have seized the tail of the policy implementation to import scrap copper. As a result, China's scrap metal import ring increased by 40% in April and scrap copper import ring increased by 70% in April. However, at present, the scrap copper supply available for trading on the market is still on the tight side, and the holders are reluctant to sell, so it is difficult for recycling traders to accept the goods at a lower price. Copper prices began to stop falling and rebound after a continuous decline, attracting many copper manufacturers to replenish the market at the bottom. Copper consumption in electrolysis accelerated. Copper prices in Shanghai increased, and copper stocks in Guangdong continued to decline.

 

Aluminum:

Aluminum prices have risen steadily and moderately in Foshan today, and the trading atmosphere has improved. The current depot maintenance in the peak consumption season and the soaring alumina price push up the cost of the aluminium market have all brought support to the short-term aluminium price, and the internal strength and external weakness are still maintained. But also useful aluminium manufacturers reflect that orders in May were not as good as expected, and purchases were a little cautious when prices rose.

 

Zinc:

The price of zinc in Foshan market is still falling today. This week's trend is weak and the enthusiasm of the market has been seriously frustrated. At present, zinc manufacturers and traders are still worried that the short-term zinc price still has room to fall, so they are cautious in purchasing. Most manufacturers maintain on-demand purchasing strategy, and trading volume is difficult to improve.

 

Stainless steel:

Today, the price of scrap stainless steel in Foshan market continues to be stable, but market transactions tend to be cautious. It is reported that the large steel mill lowered the price of hot rolled products by 200 yuan/ton yesterday afternoon. As soon as the news came out, the scrap stainless steel market became nervous and the operation became cautious. Some businessmen immediately quickened the pace of delivery and trading, and locked in profits first. (Source: Lingtong Metal Information)

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