 |
| |
| Metal scraps performances in Foshan market on July 3 |
| 2024-7-3 |
Copper: The spot copper price in Foshan market rose slightly today, but the overall trend remained weak and fluctuated, and the price rebound was limited. Although the copper price has released some risks after the recent correction, the domestic refined copper output remains high at present, and the weak terminal consumption leads to the increase of social inventory, which also restricts the rising space of copper price to some extent. Therefore, in the short term, copper prices may continue to fluctuate. After entering the third quarter, copper is basically in a state of small rebound but short-term profit. In the off-season, the overall environment is under pressure from the news of European and American elections, the exchange rate and the domestic economy. It is expected that although there is a small rebound space in the short term, copper will be slightly under pressure in the general direction.
Aluminum: Today, the price of aluminum in Foshan market rose steadily. In the second half of the year, the aluminum market showed a slight rebound, but the spot aluminum ingots in Guangdong were still in the discount period, which also reflected the weakness of market demand. It is generally reported by factories and enterprises that orders are under great pressure since June and summer vacation, and the low-price competition among domestic provinces has also blocked orders, putting pressure on aluminum prices.
Zinc: Today, the price of zinc in Foshan market has been rising continuously, and some downstream manufacturers entered the market with rigid demands. Traders follow the market to sell and make up, and the market transactions are slightly improved. With the improvement of local property markets, LME zinc stocks are declining, and zinc fundamentals are strongly supported, and short-term prices are still likely to rise.
Stainless Steel: Dragged down by the nickel price correction, stainless steel futures continued to rise weakly, and the spot market pressed the pause button to follow up the trading. The manufacturers in the scrap industry maintained a conservative wait-and-see attitude and generally traded at a single stable price. In July, it is expected that the fundamentals will be repaired and the demand will improve. Driven by domestic macro-positive sentiment, the stainless steel market will regain its rebound pace. (Analyzed by LTIT)
|
| |
| WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free! |
|
| |
|
|
|
2024-11-18
|
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 |
|
 |
 |
 |
2023-5-15 |
|
| |
1 USD= |
6.7021 |
Inverse: |
0.14921 |
|
1 EUR= |
7.8800 |
Inverse: |
0.12690 |
|
1 GBP= |
8.6373 |
Inverse: |
0.11578 |
|
1 AUD= |
5.2589 |
Inverse: |
0.19015 |
|
|
|
 |
|
|
|
|
|
