Metal Scrap Performance in China Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on August 16
2019-8-16

Copper:

The price of recycled copper in Foshan market has not changed much today, and market transactions are still cautious. Recently, the news of Sino-US trade has been mixed, which has become the main factor affecting the trend of copper price. At present, most of the market views are still generally inclined to short-term copper prices will maintain a slight fluctuation of volatility. In terms of spot supply, although the domestic supply of recycled copper continues to be tight, the current demand in the copper market is still in the off-season and the supply and demand are in a tight balance. However, the traders are still very concerned about the subsequent import of scrap copper. According to published statistics, the three approvals currently involve 845953 tons of scrap metal imports, of which 452559 tons are copper scrap. This week, after the copper price continued to fluctuate and decline, traders' reluctance to sell was significantly strengthened, the price difference between refined and discarded commodities narrowed and trading was weak.

 

Aluminum:

The price of aluminum in Foshan market rose slightly today, but the market was very worried about high prices, worried that the increase this week would not be maintained, and showed caution in purchasing. However, some operators are still optimistic about the future of aluminum. They believe that with the end of the off season, the demand in the aluminum market is expected to improve continuously, and the recent low inventory level in the aluminum market still supports the aluminum price.

 

Zinc:

The price of zinc in Foshan market has not changed much today, and market transactions continue to be cautious. This week, the zinc price continued to fluctuate at a low level, and the enthusiasm of the traders for shipment was not high, while the traders' mentality of being reluctant to sell and supporting the price for shipment was more obvious, while the downstream zinc manufacturers made moderate purchases at bargain prices, with limited purchases. At present, most of the operators are still worried about the short-term zinc price fluctuation, and it is difficult for the trade to improve.

 

Stainless Steel:

The price of waste stainless steel in Foshan market is stable today. This week, nickel prices rose sharply again after falling back. LME nickel successfully broke through the US$ 16,000 mark, but the spent stainless steel market was calm and did not follow the sharp rise in nickel prices. At present, the steel mills have no intention of chasing up sharply, and the recycling traders also dare not rashly chase up, so the transaction is deadlocked. (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!