Copper:

Recycled copper prices in Foshan market stopped falling and rose slightly today. In the short term, the rebound in copper prices is still weak. Since mid-April, copper prices have fallen in succession. However, due to environmental protection policies and import bans, the supply of recycled copper in the Mainland remains tight. Holders are reluctant to sell, and their asking prices are firm. Many recycled copper utilizers say that they are in a difficult situation, and the high price of recycled copper has led to a substantial increase in the cost of scrap used by enterprises. However, downstream users have limited acceptance of the price of copper rods, and most of them have to premium to produce finished products. Profits have been squeezed, and the incentive to take orders and purchase has been seriously undermined. The narrowing of the price gap between refined copper and waste has also led to an increase in the substitution of electrolytic copper for regenerated copper. Electrolytic copper accelerates digestion and inventory removal is still being maintained.

Aluminum:

Aluminum prices in Foshan continued to fall slightly today with short-term volatility. Entering the low season of traditional consumption in June, the demand of aluminium market gradually weakened, and the support to the price of aluminium is limited. In the current low price range, most of the downstream aluminium manufacturers follow the market replenishment, quotation to maintain flat water or small premium water. Short-term lack of demand support and capital pursuit, and aluminum prices may rise weak.

Zinc:

Today's Foshan market zinc price shocks slightly down, the market fear of a strong atmosphere, the current downstream middlemen and traders expressed concern about the future trend of zinc prices. Traders remain positive shipments, but downstream zinc manufacturers to weaken the desire to purchase, most of them maintain on-demand procurement. Recent transactions have been concentrated mainly among traders. Lack of demand support, zinc prices rebound weakly.

Stainless steel:

Today's Foshan market scrap stainless steel prices picked up momentum, mainly due to the recovery of nickel prices driven. At present, the market for nickel aftermarket divergence, some businesses believe that Indonesia rainstorm and squeeze expected to push up nickel prices further, and lead to scrap stainless steel prices continue to rise, but some businesses worry that weak demand in the off-season eventually drag down nickel prices.  (Source: Lingtong Metal Information)