Metal Scrap Performance in China
Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on November 5
2024-11-5
Copper: Today, the spot copper price in Foshan market has risen in an all-round way, and the trading mood in the market has improved. On the eve of the announcement of the voting results of the US general election, the US dollar fell below 104 points, LME copper rebounded and regained above $9,700, and SHFE copper rebounded, driving the spot copper price to rise. With the upcoming important domestic meetings, the evolution of key risk events in the United States and the landing of the Federal Reserve's meeting on interest rates, the macroeconomic trend will become more clear. Fundamentally, the continued decline in the domestic electrolytic copper pool has boosted the copper price. In addition, the disturbance on the global smelting end has increased, the demand has improved after the price correction, and the amount of waste copper has decreased. As a whole, the support for copper prices has become stronger, and the short-term copper price may continue to fluctuate and rise.
Aluminum: Today, the price of aluminum in Foshan market rose sharply, which was driven by the weight of SHFE aluminum above 21,000 yuan. In the short term, the pressure on the supply side is not great, and it is difficult to release the production capacity of electrolytic aluminum quickly. Moreover, the continuous decline in the inventory of aluminum ingots and the high cost support the trend of aluminum prices, and aluminum prices are still optimistic in the short term. Although the spot consumer market has not shown a prosperous scene, the overall performance is stable.
Zinc: The price of zinc keeps fluctuating, traders are more positive in shipping mentality, the purchasing enthusiasm of downstream manufacturers is still not high, and the wait-and-see mood is relatively strong, basically maintaining on-demand procurement, and most of the transactions come from the contributions of traders, and the overall market transaction is average.
Stainless Steel: The rally is slight. Nickel and stainless steel futures both decline, and it is difficult to cover up the light transaction in the spot market. The scrap industry maintains a cautious operation mentality. Some buyers withdraw from yesterday's high price accordingly, and generally receive goods at a single stable price, and the supply circulation is tight.
Aluminum: Today, the price of aluminum in Foshan market rose sharply, which was driven by the weight of SHFE aluminum above 21,000 yuan. In the short term, the pressure on the supply side is not great, and it is difficult to release the production capacity of electrolytic aluminum quickly. Moreover, the continuous decline in the inventory of aluminum ingots and the high cost support the trend of aluminum prices, and aluminum prices are still optimistic in the short term. Although the spot consumer market has not shown a prosperous scene, the overall performance is stable.
Zinc: The price of zinc keeps fluctuating, traders are more positive in shipping mentality, the purchasing enthusiasm of downstream manufacturers is still not high, and the wait-and-see mood is relatively strong, basically maintaining on-demand procurement, and most of the transactions come from the contributions of traders, and the overall market transaction is average.
Stainless Steel: The rally is slight. Nickel and stainless steel futures both decline, and it is difficult to cover up the light transaction in the spot market. The scrap industry maintains a cautious operation mentality. Some buyers withdraw from yesterday's high price accordingly, and generally receive goods at a single stable price, and the supply circulation is tight.
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!
