Copper:

Today, the price of recycled copper in Foshan market stopped falling and picked up. The short-term trend of copper price continued to fluctuate strongly. Recently, the domestic macro data for March showed a good trend, the market sentiment was boosted, the global dominant copper inventory was showing a downward trend, and the support below the copper price was strong. Therefore, although there was still pressure on the front line of $6,500 copper price, the industry was still bullish on the future copper price trend. In the spot market, the trading atmosphere in the copper market has greatly improved. Traders are leading the receiving tide. The downstream follow-up buying level has increased. Market transactions are somewhat more active than in the previous period. Influenced by various factors such as import policies and environmental protection supervision, the domestic supply of recycled copper continues to be tight, the price charged by the commodity holders is firm, and prices are generally quoted at a premium.

Aluminum: Today, the price of aluminum in Foshan market is rising across the board, and the market demand is gradually improving. The continuation of domestic stock removal and high season consumption has supported aluminum prices, thus increasing market trading confidence. Most downstream aluminum manufacturers maintain on-demand replenishment. The stock of aluminum ingots in Guangdong has dropped from 390,000 tons in early March to 360,000 tons at present, which strongly supports the current price of aluminum.

Zinc: The price of zinc in Foshan market fell further today. The market cannot help worrying whether the inflection point of zinc price has arrived. This round of decline in zinc price has lasted for nearly two weeks, and has accelerated in the past two days. The main inducement is the increase in LME zinc inventory to a new high and the expectation of accelerated capacity release from domestic refineries. At present, the downstream zinc producers have a strong fear of falling and are mainly cautious and wait-and-see.

Stainless steel: The price of waste stainless steel in Foshan market is stable today. Steel mills are continuously pressing the waste stainless steel market by lowering the price of their products. The weak rise in nickel price is also difficult to support the waste market. However, the current circulation of goods in the market is tight, and waste stainless steel dealers are still reluctant to sell, bringing some anti-drop support to the price of waste stainless steel, resulting in a deadlock in the transaction.  (Source: Lingtong Metal Information)