Metal Scrap Performance in China
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Metal scraps performances in Foshan market on December 2
2022-12-2
Copper: Today, the price of secondary copper in Foshan market is stable. After four consecutive days of rising, the price of copper is facing the pressure of callback at a high stage, and the market cautious mood has obviously increased. At present, news of the relaxation of epidemic prevention has been released all over the country, but the epidemic situation is still difficult to predict after the relaxation, whether it will form a new round of constraints on the demand of copper market, or whether the demand of copper market will improve since then. So far, it is still difficult to make a conclusion, so copper manufacturers are still cautious in their operation. However, it is worth noting that this year's Spring Festival is earlier than in previous years, so some employees of copper enterprises may return home in advance, and the demand of copper market is expected to weaken. However, the low inventory of copper market still supports the price to some extent, and it is expected that the short-term trend of copper price will still be dominated by range fluctuations.
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the rise slowed down obviously. At present, SHFE aluminum fluctuates above 19,000 yuan, and most factories and enterprises digest inventory or wait and see. In December, due to the impact of the epidemic, employees of aluminum enterprises may enter the holiday cycle ahead of schedule this year, all of which suppress the upward trend of aluminum prices. It is expected that the short-term aluminum prices will continue to fluctuate with 19,000 as the central axis.
Zinc: Today, the trend of zinc price in Foshan market is still on the strong side. Traders are more cautious in receiving goods during this period, mainly to maintain the existing inventory operation. Downstream material manufacturers are afraid of high prices, mostly wait and see, with low purchasing enthusiasm and dull market transactions. The prospect of slowing down the Fed's interest rate hike has hit the US dollar, and zinc is expected to have room to rise in the short term.
Stainless Steel: SHFE nickel, after three consecutive sunshine, the rising trend has slowed down. At present, there is a strong wait-and-see atmosphere in the spot of stainless steel, the transaction of plate and strip is weak, the scrap market is flat, the market is not up and down, and most of the transactions between buyers and sellers are price-stable. However, due to the consideration of cost and profit, manufacturers tend to keep prices down and receive goods. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the rise slowed down obviously. At present, SHFE aluminum fluctuates above 19,000 yuan, and most factories and enterprises digest inventory or wait and see. In December, due to the impact of the epidemic, employees of aluminum enterprises may enter the holiday cycle ahead of schedule this year, all of which suppress the upward trend of aluminum prices. It is expected that the short-term aluminum prices will continue to fluctuate with 19,000 as the central axis.
Zinc: Today, the trend of zinc price in Foshan market is still on the strong side. Traders are more cautious in receiving goods during this period, mainly to maintain the existing inventory operation. Downstream material manufacturers are afraid of high prices, mostly wait and see, with low purchasing enthusiasm and dull market transactions. The prospect of slowing down the Fed's interest rate hike has hit the US dollar, and zinc is expected to have room to rise in the short term.
Stainless Steel: SHFE nickel, after three consecutive sunshine, the rising trend has slowed down. At present, there is a strong wait-and-see atmosphere in the spot of stainless steel, the transaction of plate and strip is weak, the scrap market is flat, the market is not up and down, and most of the transactions between buyers and sellers are price-stable. However, due to the consideration of cost and profit, manufacturers tend to keep prices down and receive goods. (Analyzed by LTIT)
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