Copper:

Today, the price of recycled copper in Foshan market showed a stable performance. The overnight surge in LME Copper saw a sharp rebound. The domestic copper prices in the two cities were carefully handled. On the whole, there is still great resistance to the short-term copper price breakthrough and more favorable factors are still needed to support it. Today there are three big data coming from Europe and America. If the data are strong, the US dollar index is expected to strengthen further, while the price of non-ferrous metals may fall under pressure. However, judging from the recent price trend of recycled copper, it has strong resilience, mainly supported by tight supply. Influenced by various factors such as import policies and environmental protection supervision, the domestic supply of recycled copper continues to be tight, while the market outlook is expected to improve to a limited extent. The few inventories held by the commodity traders are priced at a firm price and are generally quoted at a premium.

Aluminium:

Today, the aluminum price in Foshan market rose slightly, and the market demand is gradually improving. Domestic aluminum ingot inventory continues to go out of stock, which supports the short-term aluminum price. Due to the bullish attitude towards short-term aluminum prices, the purchasing mentality of downstream aluminum manufacturers is relatively relaxed, and most of them follow the market to replenish their stock. So far, the stock of aluminum ingots in Guangdong has dropped from 390,000 tons in early March to 350,000 tons at present.

Zinc:

Today, the zinc price in Foshan market continues to drop sharply. The continuous deep decline in the past two weeks has made market participants worry whether the inflection point of zinc price has arrived. At present, zinc ingot metal shippers are more active in shipping goods, but the downstream zinc manufacturers are still more cautious about falling and cautious in receiving goods. They are still mainly digesting stocks. In recent two days, trade in zinc market is mainly concentrated among traders.

Stainless steel:

Today, the price of waste stainless steel in Foshan market continues to perform smoothly. The weak nickel price continues to restrict the trading enthusiasm in the waste stainless steel market. The price cut by steel mills is even worse. Traders expect the short-term price trend of waste stainless steel to remain weak. However, there is a strong reluctance on the part of the sellers to sell goods, as the circulation of goods in the market is tight, thus supporting prices to resist falling. (Source: Lingtong Metal Information)