Copper:

Today, the price of recycled copper in Foshan market rose slightly further. Faced with the rebound in the low price of copper, the market trading sentiment has warmed up. Copper manufacturers have increased their enthusiasm for purchasing and the trading has improved. Traders are generally cautious and optimistic about the short-term copper price fluctuation. They believe that the current copper price has a firm bottom, but the decreased demand in the off-season puts pressure on it and does not rule out repeated fluctuation. The tenth batch of import approvals for scrap metal, which has attracted much attention, has been publicized. The total amount of import approvals for copper scrap, aluminum scrap and scrap iron and steel is 436,930 tons nationwide with 365,430 tons in Guangdong Province, accounting for 83.6%. The import approval volume of copper scrap and scrap nationwide is 124,450 tons, and that of Guangdong Province is 91,690 tons, accounting for 73.7%. The import approval amount of aluminum waste and scrap is 306,930 tons and Guangdong Province 268,860 tons.

Aluminum:

Today, the price of aluminum in Foshan market fell slightly. This week, the fluctuation is smaller generally, the decreased off-season demand and environmental supervision and other factors still exerted pressure on the price of aluminum. At present, the enthusiasm of aluminum manufacturers in purchasing is still not good. With the deepening of the off season, the rate of aluminum ingot inventory reduction has slowed down obviously, aluminum rods have begun to accumulate, and the national aluminum ingot inventory has shown a slight rebound, reaching 1.04 million tons at present.

Zinc:

Today, the zinc price in Foshan market is stable, and the fear of falling in the market still prevails. Traders are cautious in purchasing, and most of them ask for quotations after receiving orders. Downstream zinc manufacturers expressed concern about the trend of zinc prices in the future market. They mostly watched carefully and were not enthusiastic in purchasing. At present, the overall trade in zinc market is slack. If the demand does not improve, the price may remain slumped.

Stainless Steel:

Today, the price of waste stainless steel in Foshan market further rose, and the nickel price continued to rebound, bringing impetus to the stainless steel market, thus improving the market trading atmosphere. Today, the enthusiasm of steel mills to enter the market for purchases has obviously improved. Recycling traders and others are willing to chase after higher prices for purchases, and goods holders are taking advantage of the situation to make profits. (Source: Lingtong Metal Information)