Copper:

Today, the price of recycled copper in Foshan market also started an upward attack driven by the continuous rise in nickel prices this week, following the sharp rise in copper futures. At present, LME copper has successfully passed the mark of 6,000 US dollars, and SHFE Copper is approaching 48,000 US dollars, which has led to a sharp rise in market bullishness. Currently, because of the shortage of supply of goods, recycled copper manufacturers have taken advantage of the situation to raise their selling prices substantially. They are also quite willing to ship and profit first. However, traders are not confident enough about the sudden surge in copper prices in the off-season and still need to wait and see. They are worried about the sustainability of this rally, so they are cautious in purchasing. According to the analysis, if the short-term nickel price rises further, the copper price will follow, but the high price still needs to warn of risks.

Aluminum:

Compared with the strong momentum of copper and nickel, the fluctuation of aluminum price in Foshan market today is still low-key, with the price rising only slightly. The decreased demand in the off-season and environmental supervision are still exerting pressure on aluminum prices. At present, the enthusiasm of aluminum manufacturers in purchasing is still not good. With the deepening of the off season, the rate of aluminum ingot inventory reduction has slowed down obviously, aluminum rods have begun to accumulate, and the national aluminum ingot inventory has shown a slight recovery.

Zinc:

The price of zinc in Foshan market rose further today. Although the increase was not as high as that in copper and nickel market, the pace of increase this week is still firm. However, downstream zinc producers are worried about the fluctuation of short-term zinc prices. Most of them are cautious and wait-and-see. They are not enthusiastic in purchasing and are unwilling to build a large stock of zinc ingots. Therefore, trading has been concentrated among traders in recent days.

Stainless Steel:

Today, the price increase of waste stainless steel in Foshan market is further expanded, and the intensive fluctuation of SHEF nickel's continuous increase on the 8th has completely ignited the enthusiasm of the market. Since July 3, Shanghai nickel has increased by more than 20,000 yuan. At present, major steel mills are raising the price of their products one after another, but the price difference is widening again because the waste stainless steel is slightly inferior to the increase. (Source: Lingtong Metal Information)