Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 11
2021-5-11
Copper: Today, the recycled copper price in Foshan market has declined in an all-round way, and the market operation is cautious. Recently, the trend of nonferrous metals is very sharp. Overnight, LME copper once again set a new record high of 10,747 US dollars, more than double the low point in March last year. Therefore, the traders are also expecting a correction to the high copper price today. The recent ultra-high copper price has already affected the trading and production of the copper market. The high cost and high risk restrict the enthusiasm of merchants to purchase goods. It is difficult for the terminal market to accept the soaring prices of raw materials in a short time, and the orders are obviously reduced. Yesterday, the three major exchanges have raised transaction fees to "cool down". However, the traders are still expecting copper prices to rise in the after-market, and it is estimated that LME copper’s next target is $11,000.
Aluminum: Today, the high price of aluminum in Foshan market has dropped, which makes the market transactions more cautious. SHFE aluminum was suppressed by profit, and the whole line was adjusted back at a high level, but it still remained near the 20,000 yuan mark. Recently, because the capital pays close attention to the continuous innovation of prices, aluminum manufacturers can only purchase according to their needs. At present, the fall of aluminum prices will undoubtedly cool down the market, and the high level will be tested repeatedly in the short term.
Zinc: Today, the zinc price in Foshan market follows the market correction. Middlemen and traders are worried about the trend of zinc market. They think that the current zinc price is too high, a large number of incoming goods are not much, the price of goods holders is firm, and the purchasing willingness of materials manufacturers is still not strong. Most of them maintain purchasing on demand, and the stalemate between the two sides is relatively common.
Stainless Steel: Today, the price of stainless steel in Foshan market is stable. The three major exchanges suggested trading risks, and nickel prices changed from rising to falling. With the decline of nickel price, the passion for price increase in stainless steel market obviously cooled down, the spot trading atmosphere was calm in the morning, the steel strip still maintained the raised price, and the receipt of waste materials in the industry was generally lowered from the high level. (By LTIT)
Aluminum: Today, the high price of aluminum in Foshan market has dropped, which makes the market transactions more cautious. SHFE aluminum was suppressed by profit, and the whole line was adjusted back at a high level, but it still remained near the 20,000 yuan mark. Recently, because the capital pays close attention to the continuous innovation of prices, aluminum manufacturers can only purchase according to their needs. At present, the fall of aluminum prices will undoubtedly cool down the market, and the high level will be tested repeatedly in the short term.
Zinc: Today, the zinc price in Foshan market follows the market correction. Middlemen and traders are worried about the trend of zinc market. They think that the current zinc price is too high, a large number of incoming goods are not much, the price of goods holders is firm, and the purchasing willingness of materials manufacturers is still not strong. Most of them maintain purchasing on demand, and the stalemate between the two sides is relatively common.
Stainless Steel: Today, the price of stainless steel in Foshan market is stable. The three major exchanges suggested trading risks, and nickel prices changed from rising to falling. With the decline of nickel price, the passion for price increase in stainless steel market obviously cooled down, the spot trading atmosphere was calm in the morning, the steel strip still maintained the raised price, and the receipt of waste materials in the industry was generally lowered from the high level. (By LTIT)
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