Metal Scrap Performance in China
Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on May 7
2021-5-7
Copper: Today, the recycled copper price in Foshan market has risen sharply, and the market bullish sentiment is high. Since mid-April, LME copper has risen repeatedly, and this week's rise is even more sharp. This morning, LME copper continued to rise after successfully breaking through the previous high of US$ 10,190, reaching the highest level of US$ 10,232, creating a new record high, driving SHFE copper to further soar strongly, with the price directly reaching 75,000 yuan. At present, analysts have predicted the future trend of copper price. CITI expects copper price to hit $12,000 next year, and some analysts even expect a maximum of $20,000. However, the rising copper price has restrained some demand, and investors are worried about the sustainability of the rising copper price. Copper manufacturers still purchase on demand, while traders digest inventory and make profits first, and the trading is not active.
Aluminum: Today, the price of aluminum in Foshan market has further increased sharply, and its trend continues to be strong. Supported by positive economic data and intensified tension between China and Australia, the futures aluminum price soared further, with LME aluminum price exceeding US$ 2,500 per ton, and SHFE aluminum reaching 20,000. In the face of high aluminum prices, risk awareness is increasing, and aluminum manufacturers and goods holders mainly digest inventory for profit.
Zinc: Today, the zinc price in Foshan market reappears and the market has a strong wait-and-see atmosphere. Traders are more cautious in receiving goods during this period, basically maintaining low inventory operation, and most of them make inquiries and ask for goods market transactions only after receiving orders. The Indian epidemic has reduced the possibility of global easing policy in the near future, and it is optimistic that zinc prices will continue to rise in the market outlook.
Stainless Steel: Today, the price of stainless steel in Foshan market continues to rise. Repeated price increases have effectively driven the rising atmosphere in the spot market. Steel mills have raised the quotation of products in the spot market one after another, and the operation confidence in the waste industry has been enhanced. Manufacturers have generally raised the receiving price to promote the delivery of goods. At present, the steel strip transaction is still the benchmark of the spot market, paying attention to the post-holiday demand. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has further increased sharply, and its trend continues to be strong. Supported by positive economic data and intensified tension between China and Australia, the futures aluminum price soared further, with LME aluminum price exceeding US$ 2,500 per ton, and SHFE aluminum reaching 20,000. In the face of high aluminum prices, risk awareness is increasing, and aluminum manufacturers and goods holders mainly digest inventory for profit.
Zinc: Today, the zinc price in Foshan market reappears and the market has a strong wait-and-see atmosphere. Traders are more cautious in receiving goods during this period, basically maintaining low inventory operation, and most of them make inquiries and ask for goods market transactions only after receiving orders. The Indian epidemic has reduced the possibility of global easing policy in the near future, and it is optimistic that zinc prices will continue to rise in the market outlook.
Stainless Steel: Today, the price of stainless steel in Foshan market continues to rise. Repeated price increases have effectively driven the rising atmosphere in the spot market. Steel mills have raised the quotation of products in the spot market one after another, and the operation confidence in the waste industry has been enhanced. Manufacturers have generally raised the receiving price to promote the delivery of goods. At present, the steel strip transaction is still the benchmark of the spot market, paying attention to the post-holiday demand. (Analyzed by LTIT)
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!
