Copper:

Today, the price of recycled copper in Foshan market is still stable, and the momentum of short-term copper price increase is still decreased. After entering the low season, the supply and demand of copper market are weak, the good news in the market is limited, and the rebound strength of copper futures is limited. At present, SHFE copper is still below 47,000 yuan, while LME copper is below 5,800 us dollars, with limited support for spot copper prices. However, from another point of view, it is currently the middle of August, only half a month before the end of the summer off-season, and the current copper price is at a two-year low. The market is expected that there is limited room for the copper price to continue to decline. If demand improves, the copper price is expected to resume its rise. However, there are still many uncertain factors in the market at present, such as Sino-US trade relations, devaluation of RMB and so on. Trading is still cautious.

Aluminum:

The price of aluminum in Foshan market rose sharply today. The unexpected rise was mainly due to the hype of news coverage. The strongest typhoon Lekima hit Shandong's major aluminum production site. The electrolytic cell of the local electrolytic aluminum enterprise was operating normally, but the transportation of aluminum and water was blocked. SHFE aluminum took advantage of the strong momentum. The main contracts rose in 370 yuan in two days, driving the spot aluminum price to rise positively. Factory enterprises joined in the chase.

Zinc:

Foshan's market is rising with aluminum prices today, but the buyer's market is still cautious. At present, traders are still mainly maintaining their existing stock operations. Downstream material manufacturers are full of fear of falling, mostly wait-and-see, with low purchasing enthusiasm and flat market transactions. Traders still have doubts about the unexpected rise in zinc prices. They believe that short-term zinc prices do not have the momentum to rise.

Stainless steel:

The price of waste stainless steel in Foshan market is stable today, and the price of nickel has stabilized to a certain extent, easing the anxiety in the stainless steel market. In the face of the recent sharp rise and fall in nickel prices, recycling traders are also obviously cautious in their operations. However, some operators also said that this fall in nickel prices is also a release of risks, and future trading is expected to be better.  (Source: Lingtong Metal Information)