Copper:

Today, the recycled copper price in Foshan market rose slightly, and the increase before the holiday was relatively cautious. With the Mid-Autumn Festival & National Day approaching, manufacturers are relatively cautious in preparing materials before the holiday, mainly because there are still many uncertain factors in the current international market. This week, the candidates for the US presidential election will hold the first debate, and the US will publish the non-farm payrolls report, all of which may lead to fluctuations in the US dollar index, which in turn will affect commodity prices. Therefore, before the holiday, the funds continued to wait and see, and the SHFE copper fluctuated within a narrow range around 51,000 yuan in the month. The industry believes that there is still strong support above 50,000 yuan in the short term. Market transactions were cautious, electrolytic copper transactions in Guangdong market continued to be discounted, while the price of recycled copper was firm due to tight goods, and the price difference of refined waste narrowed.

Aluminum: Today, the aluminum price in Foshan market has further increased, and the domestic aluminum price ushered in a retaliatory rebound before the holiday. However, after the active replenishment since last week, this week, with the aluminum price rising step by step, the purchase efforts of aluminum manufacturers have slowed down. After accelerated digestion in recent period, the national social inventory of aluminum ingots has been reduced to 660,000 tons, which is favorable for supporting short-term aluminum prices.

Zinc: Today, the price of zinc in Foshan market has stopped falling and rebounded. Facing the sudden and strong rebound of zinc price, zinc manufacturers are mainly waiting to see, and their purchasing enthusiasm is not high, mainly digesting stocks. At present, the bullish confidence of cargo holders has improved, the asking price is firm, the two sides are deadlocked, and the overall trading performance of the market is dull.

Stainless Steel: Today, the price of waste stainless steel in Foshan market continues to rise slightly. With the approaching of National Day & Mid-Autumn Festival, the trading mentality of stainless steel market is becoming more cautious, and the rhythm of the supply and circulation of waste materials is obviously accelerated. Retail investors who hold goods have a higher willingness to ship, and generally trade in cash at a stable price. During the long vacation, it is necessary to focus on the trend of LME nickel. (Source: Lingtong Metal Information)