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| Metal scraps performances in Foshan market on July 9 |
| 2024-7-9 |
Copper: The spot copper price in Foshan market is stable today. After entering July, the overall performance of copper price fluctuated strongly. At present, SHFE copper is still consolidating in a narrow range above 80,000 yuan, and LME copper may continue to test the resistance of the 10,000-dollar mark in the short term. At present, the copper price is still in the high price range, and the market is in the off-season. In the case of less orders and high costs, most copper manufacturers maintain on-demand procurement. It is reported that the preferential and tax policies in Jiangxi have changed again, and the wait-and-see of factories and enterprises has partially affected the spot market transactions. On the whole, the demand in the copper market is still weak, and the willingness to pursue high prices in the downstream is low, which leads to the obstruction of inventory withdrawal and the accumulation phenomenon, which may continue to restrict the rally level of copper prices in the short term.
Aluminum: The price of aluminum in Foshan market rose slightly today. At present, the aluminum market is in the off-season of consumption, and the demand for downstream aluminum products will become weaker and weaker. The operating rate of processing enterprises will decline steadily, and the weak demand will further weaken the momentum of aluminum price increase. At present, the spot aluminum price in the South China market continues to be significantly discounted, which leads to the supply of aluminum ingots flowing to the East China market, and the inventory pressure in the local market has declined.
Zinc: Today, the price of zinc in Foshan market continues to fluctuate. There are not many middlemen and traders buying in large quantities, and the downstream demand is weak. The market is not confident in the after-market, and zinc manufacturers are not willing to buy. Most of them maintain on-demand procurement, and individual manufacturers replenish their stocks with rigid demands. The overall transaction is relatively general.
Stainless Steel: Rumors of ¡°nickel purchasing and storage of¡± came out, but the market reaction was dull, and the price of nickel fell instead of rising. Stainless steel futures fell, which once again tested the degree of demand follow-up after spot price increase. The scrap industry turned from chasing high to being cautious, with buyers and sellers trading at stable prices, and the pace of supply transactions accelerated.
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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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