Metal Scrap Performance in China Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on February 19
2019-2-19

Copper:

Today, the price increase of recycled copper in Foshan market continued to enlarge, and the sale and purchase transaction is becoming more optimistic. In this week, the market mainly focuses on Sino-US trade consultations and the minutes of the Fed meeting. If the US dollar weakens further, non-ferrous metals are expected to continue to rise. Today is Chinese Lantern Festival. After the Lantern Festival, the downstream manufacturers will resume their work in full swing, and the procurement demand will be improved. The overlapping copper prices will stimulate the atmosphere, and the recycling traders will join the ranks of purchasing. The transaction is good. Due to the limited amount of materials prepared by the manufacturers before the holiday, with the recovery of production, there is a need to replenish the market, which has a good support for copper prices. At present, the three major investment banks of Citigroup, Goldman Sachs and Morgan Stanley supposed to be optimistic about the price of copper. Morgan Stanley forecast it is going to be up to 14%. Has the spring of the copper market come?

 

Aluminum: Today, the price of aluminum in Foshan market slightly declined, and its short-term trend is still weak, which mainly due to the constraints of the supply pressure. At present, the aluminum inventories in the domestic are still accumulating, and the recovery of demand of the aluminum market still needs some time. The aluminum price in the first quarter is difficult to perform well, and the short-term market sentiment continues to influence the price of aluminum.

 

Zinc: Today, the price of zinc in the Foshan market fell slightly, and the recent trend is weak. At present, middlemen and traders are still worried about the trend of the zinc market. Therefore, there are few buyers who purchase more. The downstream demand has not improved, and the market has insufficient confidence in the late market. The purchase intention of zinc manufacturers is still not strong. Only some manufacturers have the right amount of replenishment.

 

Stainless steel: Today, the price of waste stainless steel in Foshan market rose slightly, mainly driven by the rise in nickel. Today is Chinese Lantern Festival, which will usher in the peak period of the resumption of work, and at that time, it will push the price of raw materials further with the emergence of procurement demand.

 (Source: Lingtong Metal Information)

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!