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Metal scraps performances in Foshan market on February 15
2019-2-15

Copper:

The price of reclaimed copper in Foshan today rose slightly, and the trend of copper price is volatility weak overall in this week. While the demand of copper market has not officially started this week, it is expected to fully return to normal next week for the operating rate of downstream manufactures has improved. The demand will emerge after the holiday, which brings good support for copper prices. It is a tense moment of Sino-US trade negotiation. The atmosphere of trade in market tends to be cautious. Expect good news and then the copper market is expected to see “Volume and price rise” at that time. Though the sentiment in Brass market has improved that many manufactures with copper as a production material enter into market to inquiry, it is still limited for actual trading volume. The quotation of copper is not stable as the enthusiasm of copper factory receiving is not as expected and the recycler is also cautious in receiving goods.

 

Aluminum: The price of aluminum in Foshan today continues to rise slightly, and the overall trend is weak. The inventories continued with accumulation in the week after the Chinese New Year holiday has been more than 50,000 tons. It will take time for downstream consumption to recover, which will put pressure on aluminum prices. Short-term markets will refocus the social financing data and the effects of easy credit policies on January, as well as the outcome of a new round of trade talks between China and the United States.

 

Zinc: The price of zinc in Foshan today resumed a decline. As part of businessman, attracted by lower price, entering to market to inquiry, the overall sales atmosphere of the market has warmed. However, the downstream manufacturers have just started work now, the improvement of demand of order is limited, which is still mainly purchase on demand, and the quantity of receiving good is limited.

 

Stainless steel: The price of scrap stainless steel in Foshan today fell slightly, mainly due to the impact of the fall in nickel. At present, the demand has not been started at present for the operating rate of the stainless steel is still low and workers in many manufactures have delayed the time of start work. In addition, it is a more cautious atmosphere in market because the price of stainless steel is still in a weak down channel. (Source: Lingtong Metal Information)

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