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Metal scraps performances in Foshan market on January 13
2023-1-13
Copper: The copper price in Foshan market rose slightly today. SHFE copper futures will be delivered next Monday, and the monthly price is slightly higher than that of the immediate month, showing a good market mentality. Recently, capital has been speculating on copper metal continuously, and it has achieved a week-long increase during the domestic holiday driven by favorable demand in 2023, but it has also suppressed the final preparation operation accordingly. Judging from the current situation, the annual leave consumption is sluggish and the external strength forms a situation where there is no market but there are prices. If the copper price remains high after the holiday, it will also put some pressure on the demand of factories and enterprises in the new year.

Aluminum: The price of aluminum in Foshan market rose moderately today. Near the delivery, aluminum in SHFE period maintained a slight increase, and the monthly exchange price was close to the range of 18,500. It has risen from about 17,700 last week to about 600 yuan so far, and the downward trend of the previous price has also stimulated some final material preparation operations; From the inventory data, the social inventory of aluminum in China has not changed much before the comparison of 636,000 tons. If the opening price can be maintained at a low level after the annual leave, it will be more conducive to the start of demand, and we should also pay attention to the increase of inventory during the holiday.

Zinc: The inflation data in the United States is expected to fall, and the Federal Reserve may slow down the pace of raising interest rates. Zinc breaks through the previous high level and runs strongly, and the cargo holders are active in shipping. The purchasing intention of zinc manufacturers is still not strong, and most of them maintain on-demand procurement, and the market transaction activity is low. During the Spring Festival holiday, domestic demand is sluggish, and short-term benefits are difficult to maintain. It is expected that there will be limited room for zinc to rise again.

Stainless Steel: The price trend of stainless steel in Foshan market is stable. Recently, the LME nickel storm has not stopped, and the news of when to restart Asian trading has made waves again, and the price continues to fluctuate violently and repeatedly. As a result, domestic futures maintained a volatile trend. As the Spring Festival approached, the atmosphere of leaving the stainless steel market became more and more intense, and many manufacturers entered the holiday mode, and the transactions also showed a situation of having prices and no market. (Analyzed by LTIT)

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