Copper:

The price of recycled copper in Foshan market fell slightly today. The short-term fluctuation is still volatile and the direction is still unclear. The Federal Reserve cut interest rates by 25 basis points, in line with market expectations, and did not bring good news to the market. At present, LME copper remains around US$ 5,800, while SHFE copper remains at 47,000 yuan. Judging from the current situation, the news of the US-Canada interest rate cut has been finalized. At present, the market is mainly focusing on the new round of Sino-US trade negotiations and is looking forward to good news. Although the current demand in the copper market is still not satisfactory, due to the influence of customs duties and environmental protection policies, the amount of recycled copper has been continuously reduced and the import cost has increased greatly, which has resulted in the continuous shortage of domestic recycled copper supply and the firm price demanded by the goods holders. However, due to the decreased demand, manufacturers are still cautious in purchasing.

Aluminum:

Today, the price of aluminum in Foshan market fell slightly, and the market was more cautious in buying gas. At present, as the National Day holiday draws near and environmental protection management is expected to intensify, this may restrict the demand of the aluminum market. Therefore, even though the price of aluminum fluctuates in recent days, merchants are still cautious in purchasing. However, as the overall stock of the society is still at a low level, the dealers are still optimistic about the price of aluminum and are unwilling to sell at this time.

Zinc:

Today, the price of zinc in Foshan market fell again, and the traders were more positive in their attitude of delivery. However, the downstream zinc manufacturers were obviously not enthusiastic enough in purchasing. Most of the manufacturers still maintained the prudent strategy of purchasing on demand and maintained low inventory operation. Therefore, the zinc market transactions in recent days were mainly concentrated among traders, and the demand did not substantially improve.

Stainless Steel:

The price of waste stainless steel in Foshan market rose slightly today. The rebound in nickel price brought optimism to the stainless steel market and the transaction improved accordingly. Currently, the trading atmosphere in the waste stainless steel market is obviously warming up. Manufacturers are actively entering the market to make inquiries and purchase. The transaction price is gradually approaching the previous high level. Short-term price increase of stainless steel still depends on the direction of nickel price. (Source: Lingtong Metal Information)