Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 17
2022-5-17
Copper: Today, the price of secondary copper in Foshan market continues to rise slightly, and the market sentiment has also picked up. After continuous strength, the U.S. dollar index declined, LME copper also rebounded to around $9,300, and the risk release after delivery of SHFE copper remained close to 72,000; Judging from the recent rebound situation of copper, because there is still great pressure in the general environment, the domestic economic data is not satisfactory, and then the stimulus policy and the good signal of the pandemic in Shanghai give some confidence to the market. It is expected that the short-term copper price trend will still oscillate and be under pressure repeatedly despite the rebound demand. Recently, there has been a phenomenon in the spot copper market-the recovery price is high and the bid price of factories and enterprises is low, which makes it more difficult to trade secondary copper. However, for the copper market outlook, the traders are still optimistic.
Aluminum: Today, the price of aluminum in Foshan market has dropped slightly. Because of the recent weak demand, traders continue to purchase on demand after the rebound of aluminum price. On the whole, the pressure from the domestic economic situation and the global environment is still a big resistance to enterprises, and it is expected that the short-term aluminum price will be mostly in this range repeatedly.
Zinc: Today, the price of zinc in Foshan market has risen across the board. The price of zinc continues to rise. Traders are still worried about the future trend of zinc market, and there are still not many purchases. Traders keep their enthusiasm for shipment, and the willingness of zinc manufacturers to buy is weakened. Most of them keep purchasing on demand, and the market transactions have not changed much compared with yesterday.
Stainless Steel: Nickel and stainless steel futures fell, the spot market finally released the pressure, and the price of steel strip fell weakly. Steel mills generally tended to lower the purchasing cost of waste materials due to the compression of production profit margins, and the pressure atmosphere in the waste stainless steel market began to spread. Manufacturers in the industry carefully adjusted their operations, and the receiving prices withdrew from high levels, which eventually dragged down the transaction price. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has dropped slightly. Because of the recent weak demand, traders continue to purchase on demand after the rebound of aluminum price. On the whole, the pressure from the domestic economic situation and the global environment is still a big resistance to enterprises, and it is expected that the short-term aluminum price will be mostly in this range repeatedly.
Zinc: Today, the price of zinc in Foshan market has risen across the board. The price of zinc continues to rise. Traders are still worried about the future trend of zinc market, and there are still not many purchases. Traders keep their enthusiasm for shipment, and the willingness of zinc manufacturers to buy is weakened. Most of them keep purchasing on demand, and the market transactions have not changed much compared with yesterday.
Stainless Steel: Nickel and stainless steel futures fell, the spot market finally released the pressure, and the price of steel strip fell weakly. Steel mills generally tended to lower the purchasing cost of waste materials due to the compression of production profit margins, and the pressure atmosphere in the waste stainless steel market began to spread. Manufacturers in the industry carefully adjusted their operations, and the receiving prices withdrew from high levels, which eventually dragged down the transaction price. (Analyzed by LTIT)
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