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| Metal scraps performances in Foshan market on August 13 |
| 2024-8-13 |
Copper: Today, the spot copper price in Foshan market has risen in an all-round way, and the market anxiety has eased. Some merchants intend to replenish the goods at the bottom of the market, and the phenomenon of receiving goods at a lower price has obviously converged. However, due to the large drop in copper price in the previous period, there is a general loss in inventory, and it is difficult to replenish the goods when the import is upside down. The attitude of the goods holders to refuse to sell at a lower price is quite strong, so it is difficult for recyclers to receive goods at a lower price, and the transaction is still deadlocked. Recently, with the help of short covering and bargain hunting, LME copper rose strongly, and the price center of gravity returned to 9000 points, which led to a positive rebound of copper prices in the domestic market. It is noteworthy that a large number of recycled copper rod enterprises have suspended production due to policy adjustment, and traders have invested short-term raw material procurement targets in electrolytic copper, accelerating the consumption of electrolytic copper and supporting the rise of copper prices.
Aluminum: Today, the price of aluminum in Foshan market has not changed much, and there is still pressure on the first line of SHFE aluminum at 19,000 yuan, which has suppressed the current aluminum trend. Although the domestic aluminum market demand has not improved significantly, the price has fallen to the current low level, which has also attracted many aluminum manufacturers to replenish the bottom, and the purchase volume has increased compared with the previous period. Although the overall turnover has improved, it is still insufficient, and aluminum prices may continue to fluctuate.
Zinc: Today, SHFE zinc continues to rise. Traders are more cautious in receiving goods during this period, and basically maintain low inventory operations. Most of them make inquiries after receiving orders. Downstream manufacturers are even more worried about the price of zinc in the market, and some of them purchase in small quantities with rigid demands, so the market transactions are weak.
Stainless Steel: SHFE nickel and stainless steel futures continued to fall, the confidence in the spot steel strip price began to waver, the signs of price reduction were obvious, the scrap industry was still shrouded in the atmosphere of price reduction, manufacturers were not active in purchasing, and generally maintained cautious price reduction operations, but it was difficult to clinch a deal when receiving goods at low prices. (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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