Copper:

Today, the price of recycled copper in Foshan market is stable, and the price is resistant to falling due to the tight supply of goods. At present, the U.S. released better-than-expected quarterly data for October, reducing the expectations of subsequent interest rate cuts. Trump said that the United States and China are close to reaching an agreement, but experts have no doubt about Trump's statement. Sino-U.S. trade relations are still uncertain and funds continue to be cautious. LME copper prices remain fluctuating above 5,800 U.S. dollars, while SHFE copper futures fluctuate within a narrow range below 47,000, leaving domestic spot copper prices in a dilemma. Due to tight supply of goods, the phenomenon of selling recycled copper is more prominent when prices fall, which provides support for prices to resist falling. However, the trend of electric copper fluctuates with the big market, and the spot electrolytic copper in Guangdong market continues to maintain a small premium.

Aluminum:

Today, the price of aluminum in Foshan market stopped falling and rose slightly, and the cautious mood in the market eased somewhat. However, the demand in the aluminum market is still weak and both buyers and sellers lack confidence in the transaction. At present, most of the factory enterprises still purchase goods according to orders and slowly begin to withdraw funds to prevent risks and reduce inventories to a low level. However, the trend of domestic real estate and environment worries the market and the overall market demand is slack.

Zinc:

Today, the price of zinc in Foshan market continues to decline, and market worries are rising again. In the past two weeks, zinc prices have dropped sharply in a row, plunging confidence in the market. At present, the industry is generally on the side of the empty attitude towards the zinc market. At present, the consignors are active in shipment, but the traders are still mainly purchasing according to the needs of the market, while the downstream zinc manufacturers are cautious and wait-and-see, and some of them are replenished at low prices.

Stainless Steel:

The price of waste stainless steel in Foshan market fell again today, mainly due to the decline of nickel price. At present, the market is still worried that nickel price still has room for decline. As nickel prices tend to decline, the market expects that more steel mills will follow nickel prices to further reduce the ex-factory price of products and the purchase price of waste materials in the near future. Recycling traders will also reduce the receiving price and trade less. (Source: Lingtong Metal Information)