Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 23
2022-5-23
Copper: Today, the price of recycled copper in Foshan market continues to rise slightly, but the bids of factories and enterprises are still generally lower than those of recycling industry, because the demand has not improved significantly. Most of the raw materials purchased by enterprises are biased towards electrolytic copper, which boosts the premium of electrolytic copper. According to the analysis, at present, the overall copper inventory is at a low level, and there is no substantial increase in the supply side. Considering that the domestic pandemic has eased, the resumption of work and production is expected to drive the demand to pick up, and promote LME copper inventory to be decontaminated; However, the current economic situation is not optimistic. Under the influence of pandemic, inflation, monetary tightening and other factors, the economic growth is expected to slow down further, and the demand for copper is not easy to be optimistic. Therefore, it is not advisable to be too optimistic about the price rebound.
Aluminum: Today, the aluminum price in Foshan market continues to rise slightly, and the continuous rising market has put pressure on the short-term aluminum market demand again. Recently, although the impact of the pandemic on demand still exists, the pandemic in Shanghai has begun to stabilize and the state's stimulus measures are positive. It is expected that the follow-up will be comprehensive and favorable for aluminum, but the oscillation will be slightly strong, while the capital operation will still be slightly short-term.
Zinc: Today, the price of zinc in Foshan market has dropped slightly, and most downstream manufacturers are cautious in purchasing goods, mainly on demand. In the case of weak market transactions, the enthusiasm of traders for receiving goods has also been dragged down to some extent, and market transactions have weakened. The tension between Russia and Ukraine leads to high electricity prices in Europe to support zinc prices. It is necessary to see whether SHFE zinc can be supported by 25,000 yuan.
Stainless Steel: Today, SHFE nickel and stainless steel futures both declined, the spot market rebound is weak, consumer demand continues to be depressed, and the market is still weak. The downward shift of the cost center of stainless steel is becoming more obvious, and the waste industry is cautious in the wait-and-see atmosphere. At present, steel mills are taking the lead in purchasing at lower prices, and manufacturers generally receive goods at lower prices, so the price fluctuation may be greater. (Analyzed by LTIT)
Aluminum: Today, the aluminum price in Foshan market continues to rise slightly, and the continuous rising market has put pressure on the short-term aluminum market demand again. Recently, although the impact of the pandemic on demand still exists, the pandemic in Shanghai has begun to stabilize and the state's stimulus measures are positive. It is expected that the follow-up will be comprehensive and favorable for aluminum, but the oscillation will be slightly strong, while the capital operation will still be slightly short-term.
Zinc: Today, the price of zinc in Foshan market has dropped slightly, and most downstream manufacturers are cautious in purchasing goods, mainly on demand. In the case of weak market transactions, the enthusiasm of traders for receiving goods has also been dragged down to some extent, and market transactions have weakened. The tension between Russia and Ukraine leads to high electricity prices in Europe to support zinc prices. It is necessary to see whether SHFE zinc can be supported by 25,000 yuan.
Stainless Steel: Today, SHFE nickel and stainless steel futures both declined, the spot market rebound is weak, consumer demand continues to be depressed, and the market is still weak. The downward shift of the cost center of stainless steel is becoming more obvious, and the waste industry is cautious in the wait-and-see atmosphere. At present, steel mills are taking the lead in purchasing at lower prices, and manufacturers generally receive goods at lower prices, so the price fluctuation may be greater. (Analyzed by LTIT)
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