Metal Scrap Performance in China
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Metal scraps performances in Foshan market on September 30
2024-9-30
Copper: The spot copper price in Foshan market fell slightly today. Before the holiday, the buyer's market was cautious and still focused on purchasing on demand. Recently, domestic policies have been more favorable, which has boosted the price of non-ferrous metals. LME copper is still running at a high level above $10,000, and the main force of SHFE copper reached 79,460 yuan in the morning. Following the "preview" of the press conference of the State Council Office on September 24, on the evening of September 29, the central bank issued four financial support real estate policies in succession, giving policy dividends to mortgage individuals and real estate enterprises at the same time. The real estate new deal combination boxing in first-tier cities Shanghai, Guangzhou and Shenzhen landed at the first time. However, tomorrow is the National Day holiday, and the domestic market will be closed soon. Copper manufacturers and traders are worried about the risk of long holidays and are relatively cautious in purchasing.
Aluminum: Today, the price of aluminum in Foshan market has not changed much. Before the holiday, SHFE aluminum kept running at a high level above 20,000 yuan, and the gains were good. However, as the National Day holiday approached, the market risk aversion warmed up, and the current aluminum vendors made profits in shipping, which further expanded the discount rate of aluminum. Because the price of aluminum has accumulated a large increase recently, aluminum manufacturers are still mainly purchasing on demand, and the wait-and-see mood is strong.
Zinc: Today, the price of zinc in Foshan market fluctuated at a high level, traders were relatively cautious in purchasing goods, and the downstream manufacturers basically finished stocking before the holiday, but the willingness to purchase was still not strong, and the market transaction was dull. Domestic economic stimulus has been introduced intensively, and there should be residual heat after the long holiday, and there may be room for growth after the zinc festival.
Stainless Steel: The steel plate was activated by the favorable policies, and the stainless steel futures soared at the opening. The pre-holiday material preparation in the spot market welcomed the price increase tide, and the steel strip turnover improved significantly. The positive continues to be blessed, and the waste industry has also turned to an optimistic attitude. Manufacturers and buyers are actively replenishing with the increase. At present, the macro mood is hot, and the stainless steel market will see the policy stimulus space. ( Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has not changed much. Before the holiday, SHFE aluminum kept running at a high level above 20,000 yuan, and the gains were good. However, as the National Day holiday approached, the market risk aversion warmed up, and the current aluminum vendors made profits in shipping, which further expanded the discount rate of aluminum. Because the price of aluminum has accumulated a large increase recently, aluminum manufacturers are still mainly purchasing on demand, and the wait-and-see mood is strong.
Zinc: Today, the price of zinc in Foshan market fluctuated at a high level, traders were relatively cautious in purchasing goods, and the downstream manufacturers basically finished stocking before the holiday, but the willingness to purchase was still not strong, and the market transaction was dull. Domestic economic stimulus has been introduced intensively, and there should be residual heat after the long holiday, and there may be room for growth after the zinc festival.
Stainless Steel: The steel plate was activated by the favorable policies, and the stainless steel futures soared at the opening. The pre-holiday material preparation in the spot market welcomed the price increase tide, and the steel strip turnover improved significantly. The positive continues to be blessed, and the waste industry has also turned to an optimistic attitude. Manufacturers and buyers are actively replenishing with the increase. At present, the macro mood is hot, and the stainless steel market will see the policy stimulus space. ( Analyzed by LTIT)
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