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Metal scraps performances in Foshan market on December 1
2022-12-1
Copper: Today, the price of secondary copper in Foshan market has risen sharply, and the trading mood in the market has improved. The news of the sudden relaxation of epidemic prevention and control has stimulated the capital to make more metals, and the market expects that the full liberalization will be conducive to economic development and demand recovery. LME copper rose to US$ 8,300, and the domestic copper price also reached 66,000 on the last day of this week. However, overall, the demand of copper market is still weak. Can this round of copper price rise continue? At present, most copper manufacturers choose to wait and see cautiously. According to the traders, at present, the supply of copper is still in a tight state, which is beneficial to the short-term copper price trend. It is expected that the short-term epidemic prevention and control liberalization will benefit the market, but we should still be alert to the staged profit pressure.

Aluminum: Today, the aluminum price in Foshan market is rising again, and the short-term trend is very repeated. Just in December, the surge in aluminum prices has put pressure on aluminum companies, and the prevention and control has been greatly relaxed, but the subsequent time period and order situation will still be suppressed, and the annual settlement demand and supply side will support the price, which is still dominated by fluctuation in the range of 19,000 in the near future.

Zinc: Today, the price of zinc in Foshan market has risen again, but most downstream manufacturers and traders are cautious and have not replenished their stocks in large quantities. Market participants say that the current price of zinc is too high, and they think that the room for further increase will be further reduced. They are worried that the after-market will not continue to rise, so the momentum may be reversed and there will be a significant decline, and the fear of high prices will envelop the market.

Stainless Steel: Today, the price of nickel continues to rise, and SHFE nickel has risen all the way back to the 200,000 mark. The spot of stainless steel market keeps still. With the adjustment of epidemic prevention and control measures, many districts in Guangzhou City have lifted the sealing control, and the supply and circulation of waste stainless steel has increased significantly, with the manufacturers in the industry mainly trading at stable prices. (Analyzed by LTIT)

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