Copper:

Today, the recycled copper price in Foshan market reappears in decline, and this week's trend is more repeated. Stimulated by the lack of obvious good news, copper prices have entered a narrow consolidation cycle. At present, LME copper is still near the high level of US$ 8,000, while SHFE copper fluctuates around RMB 59,000. As the Spring Festival holiday approaches, domestic consumption in the off-season weakens, the spot market transactions are obviously cautious, the resistance to copper price increase is obvious, and the price keeps fluctuating. At present, although the inventory of electrolytic copper is relatively small, the premium of electric copper has been narrowed due to the weakening of consumption power. From the recent situation, it is inevitable that the demand will weaken with the passage of time, but the high external price and continued attention of funds will easily lead to repeated market, and it is expected that the short-term price trend will fluctuate relatively but the range is not large.

Aluminum: Today, the price of aluminum in Foshan market fell slightly. In the face of the future aluminum taking the lead in making profits and stopping rising, aluminum manufacturers waited and stood by, and the transaction was weak. Judging from the recent trend, the fluctuation range of futures aluminum and spot prices is still in the range of several hundred yuan. With the weakening of demand after entering the holiday cycle, users' mentality of preparing materials is basically based on the wait-and-see attitude of falling prices to make up positions and raising prices, and aluminum prices are expected to fluctuate continuously.

Zinc: Today, zinc prices in Foshan market reappeared in decline. Most downstream manufacturers and traders kept a cautious attitude and did not replenish stocks in large quantities. Market participants said that zinc prices were unstable at present, and that the possibility of zinc prices rising was low. They waited for the opportunity to prepare materials for the holidays, and the wait-and-see mood enveloped the market, resulting in dull spot transactions. Long holidays are close to capital or risk aversion, and short-term fatigue persists.

Stainless Steel: The price of stainless steel in Foshan market fell slightly today. Recently, the news of stainless steel price increase attracted attention. Steel mills started to increase, and the price of 304 cold and hot rolled products continued to rise. However, as the Spring Festival holiday approached, the actual transaction was not as good as expected. In addition, the trading popularity in the waste industry decreased, buyers were cautious in preparing materials and receiving goods, and the market pauses at present. (Source: Lingtong Metal Information)