Metal Scrap Performance in China
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Metal scraps performances in Foshan market on May 24
2022-5-24
Copper: Today, the price of secondary copper in Foshan market is stable, and the price of electrolytic copper continues to rise slightly. Although domestic measures to stabilize the economy have been continuously introduced, the market confidence has not been established, and the funds lack the confidence to do more unilaterally. The short-term profit of funds leads to repeated recent trend performance of copper, and the overall price fluctuation range is not large. On the spot, the electricity copper continued to maintain a high premium due to the shortage of goods. Due to the price difference between refined copper and waste copper, the prices of factories and enterprises were generally low, but the prices of recyclers were generally high. According to the analysis, the current economic situation is not optimistic. Under the influence of epidemic situation, 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 price of aluminum in Foshan market fell across the board. Recently, the aluminum market orders were weak, and the aluminum price rebounded and then fell back. 21,000 is still the upward pressure level, and 20,000 is the recent support point; On Monday, the national aluminum social inventory was announced to be about 930,000 tons, which was stimulated by the early decline, and the digestive performance declined slightly. It is expected that the short-term aluminum price will fluctuate mostly in this range due to many factors.
Zinc: Today, the price of zinc in Foshan market rose slightly, and SHFE zinc fluctuated sideways. The downstream manufacturers' purchasing boom was not high, and their wait-and-see mood was strong. It was mainly affected by the small orders and the fear of falling, and basically maintained the on-demand purchasing. Traders and middlemen mainly maintained the buy-and-sell strategy, and the market transactions did not change much.
Stainless Steel: Today, the stainless steel market is deserted, the demand continues to be weak, and the market continues to decline. However, the price drop still fails to recover the improvement of the transaction. The pessimistic and anxious atmosphere spreads in the waste industry, and buyers are not active in asking for goods. They are afraid that the market price will continue to fall, and reducing the holding cost is the main strategy. Generally, they accept goods at a lower price. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market fell across the board. Recently, the aluminum market orders were weak, and the aluminum price rebounded and then fell back. 21,000 is still the upward pressure level, and 20,000 is the recent support point; On Monday, the national aluminum social inventory was announced to be about 930,000 tons, which was stimulated by the early decline, and the digestive performance declined slightly. It is expected that the short-term aluminum price will fluctuate mostly in this range due to many factors.
Zinc: Today, the price of zinc in Foshan market rose slightly, and SHFE zinc fluctuated sideways. The downstream manufacturers' purchasing boom was not high, and their wait-and-see mood was strong. It was mainly affected by the small orders and the fear of falling, and basically maintained the on-demand purchasing. Traders and middlemen mainly maintained the buy-and-sell strategy, and the market transactions did not change much.
Stainless Steel: Today, the stainless steel market is deserted, the demand continues to be weak, and the market continues to decline. However, the price drop still fails to recover the improvement of the transaction. The pessimistic and anxious atmosphere spreads in the waste industry, and buyers are not active in asking for goods. They are afraid that the market price will continue to fall, and reducing the holding cost is the main strategy. Generally, they accept goods at a lower price. (Analyzed by LTIT)
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