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Eyes on China
2020-3-30

Copper:Today, the price of recycled copper in Foshan market fell slightly, making trading more cautious. At present, the new global epidemic is accelerating, with 720,000 confirmed cases worldwide and 140,000 cases in the United States. At present, investors are worried that the worsening of the COVID-19 epidemic will seriously damage the global economy, which is very unfavorable to the global financial markets. Judging from the current situation, copper prices have great room to fall back after the year to date, releasing most of the risks and attracting funds and the rebound space for the market to recover from the low replenishment. However, on the whole, copper prices are still suppressed and oscillated weakly under the condition that the epidemic situation has not reached its peak and there are signs of easing, making it difficult to form a chance for a sustained rebound. At present, the price difference between refined waste and scrap is extremely compressed, which restricts the sales of recycled copper to a great extent. Aluminum:Aluminum prices in Foshan fell slightly today. Last week, the low price of aluminum attracted the favor of the market. Merchants actively entered the market to copy the bottom and replenish the stock. With the support of cost, the low price of aluminum rebounded and the transaction was relatively active, with the goods holders maintaining the premium quotation. However, the spread of the global epidemic has suppressed the rebound in aluminum prices. The rebound is mainly short-term, and aluminum prices still need to be cautious in chasing up. Zinc:Today, the zinc price in Foshan market is stable. The overseas epidemic situation continues to spread. The market's attitude towards the future market is somewhat empty. After several days of rebound, the zinc price is now on the decline. Traders follow the market to purchase according to orders. Downstream zinc manufacturers are mainly cautious in purchasing. They just need to replenish the stock in an appropriate amount and the turnover is average. Last week's positive impact subsided, and zinc prices in the future are expected to return to fundamentals and fall back in shock. stainless steel:Today, the price of waste stainless steel in Foshan market rose slightly. Under the effect of the rising nickel price, the trading atmosphere of stainless steel waste gradually warmed up. The steel mills' purchase demand intervened, which led the recycling traders in the industry to actively prepare materials again. The bargaining price rose from a low level, and the supply of goods was significantly improved. As for the future market, the market estimates that the market will transition through repeated shocks.

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