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Metal scraps performances in Foshan market on Jan 20
2021-1-20

Copper:

The recycled copper price in Foshan market has not changed much today. With the handover of US presidential power and under the control of capital risks, copper prices continue to be sideways, LME copper continues to hover around 8,000 US dollars, and domestic copper futures are around 59,000, with no greater fluctuations for the time being; Judging from the fundamentals and attributes of copper, the low inventory of electric copper is in a state of premium, and the high import cost affects the import volume, all of which support the price to some extent. However, the recent lack of news of the Chinese Lunar New Year has suppressed the market mentality, and the high copper price has also affected the material preparation amount of copper manufacturers, all of which have put pressure on the copper market trend in the near future. It is expected that the short-term copper price trend will be slightly repeated and still be dominated by range fluctuations.

 

Aluminum: Today, the aluminum price in Foshan market continues to fall, and the trend is weak this week. Recently, the aluminum price fluctuated greatly, and when the price was low, some users were attracted to make up their positions, but when it continued to rise, they would wait and see. This also showed that the market was not pessimistic about the price trend under the subsequent annual leave, but before the Spring Festival holiday, the high price was cautious, and it is expected that the short-term aluminum price trend will still be dominated by consolidation and fluctuation.

 

Zinc: The price of zinc in Foshan market is stable today. The wait-and-see atmosphere of middlemen has not changed, the downstream manufacturers have gradually stopped production, and the market demand has weakened. Most of them are cautious in purchasing goods because of their fear of falling, and they still mainly purchase on demand. Therefore, in the case of weak market transactions, traders' enthusiasm for receiving goods has also been dragged down to a certain extent, and most merchants are still waiting for the opportunity to make up their positions and prepare materials.

 

Stainless Steel: The price of stainless steel in Foshan market has not changed much today. The rising price of stainless steel raw materials pushed up the production cost, the price of 304 hot rolling resources was high, the purchase price of large steel mills was slightly raised continuously, the scrap stainless steel industry was bullish, the supply circulation was less, the holding price was firm, and the general transaction was within the quotation range. (Source: Lingtong Metal Information)

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