Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 12
2022-5-12
Copper: Today, the price of secondary copper in Foshan market has dropped slightly. Judging from the current trend of copper price, although the price of copper still drops slightly in the short term, the risk has been released to some extent after the shock correction in the past three weeks, and the price of copper has gradually shown a signal of stopping falling and stabilizing. Therefore, the market anxiety has also eased obviously. Stimulated by the stabilization of copper prices, the purchasing enthusiasm of copper manufacturers has increased. However, the impact of the strength of the US dollar index and the overall environmental epidemic still puts pressure on the big market, and the domestic stagnation also suppresses the rebound space. It is expected that the short-term copper price range will oscillate and wait-and-see. After all, at present, the falling space of domestic copper prices is much narrower than that of LME copper.
Aluminum: Today, the price of aluminum in Foshan market has further rebounded, and the transaction has also improved. Most consumers choose to increase the purchasing power under low inventory, and the trading volume of aluminum ingots is enlarged, while the local transaction price also raises the premium of the futures price; It is understood that the orders of aluminum factories and enterprises have increased recently. It is expected that although the domestic price will rebound in the short term, the space will be limited and it will not be too far from the 20000 mark.
Zinc: Today, the price of zinc in Foshan market is stable, and the rebound of zinc price can't keep its low level, which affects the purchasing mentality of traders and manufacturers to a certain extent. The trading atmosphere in the market tends to be flat, which makes traders and manufacturers think that the trend of zinc market will show more uncertainty. The market turns to wait-and-see, and most of them mainly purchase small quantities on demand.
Stainless Steel: Nickel and stainless steel futures continue to rise, and buyers in the scrap market are actively replenishing goods rain or shine. At present, some large freight yards are still delivering high-priced orders in the early stage, and it is difficult to get a deal for low-priced trading sources, generally raising the receiving price slightly. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has further rebounded, and the transaction has also improved. Most consumers choose to increase the purchasing power under low inventory, and the trading volume of aluminum ingots is enlarged, while the local transaction price also raises the premium of the futures price; It is understood that the orders of aluminum factories and enterprises have increased recently. It is expected that although the domestic price will rebound in the short term, the space will be limited and it will not be too far from the 20000 mark.
Zinc: Today, the price of zinc in Foshan market is stable, and the rebound of zinc price can't keep its low level, which affects the purchasing mentality of traders and manufacturers to a certain extent. The trading atmosphere in the market tends to be flat, which makes traders and manufacturers think that the trend of zinc market will show more uncertainty. The market turns to wait-and-see, and most of them mainly purchase small quantities on demand.
Stainless Steel: Nickel and stainless steel futures continue to rise, and buyers in the scrap market are actively replenishing goods rain or shine. At present, some large freight yards are still delivering high-priced orders in the early stage, and it is difficult to get a deal for low-priced trading sources, generally raising the receiving price slightly. (Analyzed by LTIT)
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