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| Metal scraps performances in Foshan market on July 1 |
| 2024-7-1 |
Copper: The spot copper price in Foshan market has not changed much today. The stock supply of copper is sufficient, and the weak domestic demand puts pressure on the market. After entering the third quarter, the market is still bearish on copper in the off-season, and the quotation continues to be discounted. Moreover, there are many factors influencing the prelude to the general election in Europe and America. LME copper is still tested below $9,500 under the strong pressure of the US dollar index. It is expected that the trend will be first suppressed and then raised in the second half of 2024.
Aluminum: The price of aluminum in Foshan market has not changed much today. After the aluminum futures period was adjusted back to the range of 20000-20500, it entered the third quarter, and the demand restriction still suppressed the current aluminum market in Guangdong and continued to sell large discount futures; Judging from the state of factories and enterprises, the impact pressure from real estate continues, and the hype of new energy has come to an end for the time being. Due to the comprehensive influence of international and domestic factors, it is expected that the aluminum price risk will be supported at the 20000 mark after it is released in the second half of the year.
Zinc: SHFE zinc surged back to suppress market sentiment, traders mainly shipped, and spot zinc traders were worried about the short-term market situation. Recently, the demand is average, and the trend of zinc is still uncertain. Traders are cautious in purchasing goods, and the trading volume is limited, and the market watchers still account for a large number. However, with the improvement of local property market, the LME zinc inventory is declining, and the zinc fundamentals are strongly supported, and the short-term price may still rise.
Stainless Steel: Foshan market rose slightly today. As SHFE nickel and stainless steel futures continued to rebound slightly, the trading atmosphere in the spot market also improved at the beginning of the month, and the turnover of steel belts improved, which at the same time promoted the enthusiasm of trading in the scrap industry. More manufacturers and buyers joined the upward adjustment of receiving goods, and the price rose accordingly. (Analyzed by LTIT) |
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2024-11-18
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Item |
SHFE |
Change |
Cu |
130465 |
-9197 |
Al |
233681 |
-35713 |
Zn |
90661 |
+17996 |
Item |
LME |
Change |
Cu |
271525 |
-350 |
Al |
716425 |
-2525 |
Zn |
259500 |
+11050 |
Ni |
159156 |
+4722 |
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2023-5-15 |
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1 USD= |
6.7021 |
Inverse: |
0.14921 |
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1 EUR= |
7.8800 |
Inverse: |
0.12690 |
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1 GBP= |
8.6373 |
Inverse: |
0.11578 |
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1 AUD= |
5.2589 |
Inverse: |
0.19015 |
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