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| Metal scraps performances in Foshan market on July 16 |
| 2024-7-16 |
Copper: The spot copper price in Foshan market fell slightly today, and the short-term trend continued to be weak and volatile. According to the research results of institutions, the operating rate of raw materials processing enterprises of recycled copper in Jiangxi has obviously declined due to factors such as reverse invoicing and the State Council Order No.783, and it is reported that the production capacity of recycled copper in Jiangxi is as high as 60%. In addition, Hubei, Henan and Anhui have also successively reduced production/stopped production, and the secondary copper industry may face a new round of adjustment. However, due to this, some cable orders have been transferred to the electrolytic copper pole factory at present, which has promoted the increase in demand for electrolytic copper, and the domestic social inventory of electrolytic copper has a trend of destocking, or it has supported the price of electrolytic copper. Traders expect that domestic copper 80000-78000 will become an interval fluctuation test in the short term.
Aluminum: Today, the aluminum price in Foshan market reappeared in a sharp drop, and SHFE aluminum staged a three-day losing streak, with a weak short-term trend. At present, the demand for aluminum in Guangdong market continues to be weak, and aluminum is still heavily subsidized. However, after the continuous decline in prices, the purchase cost has moved down, which has also attracted some aluminum manufacturers to buy in the market. However, most manufacturers still purchase on demand and the transaction volume is limited.
Zinc: Today, the price of zinc in Foshan market continues to fluctuate. Due to the downward pressure of copper and aluminum prices, middlemen and traders are worried about the trend of zinc market in the future, and they are very cautious in purchasing. So far, there has been no large-scale purchase. Most downstream manufacturers maintain on-demand procurement, and some manufacturers replenish their stocks appropriately, and the overall turnover is average.
Stainless Steel: The rally of nickel and stainless steel futures is weak, and the trading atmosphere in the spot market is not positive. Obviously, due to the effect of low demand in the off-season, the scrap market is surging secretly. Some manufacturers are eager to deliver early orders, and the receiving price is intentionally raised to promote the transaction of goods, and the overall price has not changed much. (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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