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Metal scraps performances in Foshan market on April 27
2021-4-27

Copper: Today, the recycled copper price in Foshan market continues to rise sharply, and the continuous sharp rise before the May Day holiday makes the market cautious. With the global economic recovery gaining momentum, the traders expect tight supply, and the risk of strike in Chile is superimposed. The global copper price has soared to the highest level in ten years.In the morning, Shanghai copper continued to triumph, breaking through 72,000 yuan/ton; LME copper once rose to 9885 US dollars/ton. According to the analysis, although there are negative news such as the Indian epidemic, the gradual acceleration of vaccine distribution still provides a strong expectation of global economic recovery. At the same time, the weakening of the US dollar and the threat of strike in Chile also supported the overall strengthening of commodity prices. Gaosheng predicts that the most likely trend of copper price in the future will be that copper price will be above $11,000 by 2025.

 Aluminum: Today, the aluminum price in Foshan market has further increased, and the market expects the next target of SHFE aluminum to be 19,000 yuan. The continuous sharp rise before May Day has warmed up the market's fear of heights. At present, aluminum manufacturers mainly digest inventory for profit, and the high cost and high risk affect the order quantity. They have no intention of stocking a lot for the time being, and mainly operate in light warehouse.

 Zinc: Today, the zinc price in Foshan market continues to rise sharply. Most downstream manufacturers and traders keep a cautious attitude and do not replenish stocks in large quantities. Market merchants say that the current zinc price is in a high position, and they are worried that the strength of the zinc price to continue to rise will be further reduced. If it cannot continue to rise, there will be an obvious decline, resulting in dull spot market transactions.

 Stainless Steel: Today, the price of stainless steel in Foshan market follows the price of nickel. Under the strong rebound of LME nickel and stainless steel futures, the spot market has warmed up, and the steel strip transaction has improved. The manufacturers in the waste industry have also actively followed up and raised the receiving price, and the market continues to rise.

 

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