Metal Scrap Performance in China
Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on March 29
2024-3-29
Copper: The spot copper price in Foshan market is stable today. This week, the copper price continued to consolidate within a narrow range, waiting for more information. The traders believe that the short-term copper price fluctuates at a high level, and the risk has been released to some extent. The copper price in the after-market does not rule out the possibility of a rebound. At present, the uncertainty of domestic demand prospects continues to restrict the increase of copper prices, and the overall consumption of the copper market is still weaker than seasonal expectations. In addition, the expansion of the price difference between refined copper and scrap has also had a certain drag on refined copper consumption. At present, the performance of copper premium is weak, and the market atmosphere is gradually deserted at the end of the month. Due to the sluggish consumption at the end of the quarter and the relatively low activity of traders, the enthusiasm for shipment in the market has been suppressed, and the overall trading of the market is weak, but the market is still bullish on the copper after-market.
Aluminum: Today, the price of aluminum in Foshan market has risen in an all-round way, and the transaction has improved accordingly. It is generally expected that the demand in the aluminum market will continue to improve in the second quarter, and the enthusiasm of aluminum manufacturers for purchasing will be significantly improved. The national aluminum social inventory will drop slightly to 864,300 tons. However, due to the high aluminum price and the strong profit-making mentality of the holders, the spot aluminum ingots are still traded at a discount of over 100 yuan.
Zinc: Domestic favorable policies continued to be exported, and SHFE zinc rose, which stimulated the enthusiasm of market procurement, and downstream manufacturers went into the market to purchase stocks on dips. Recently, the news dominated the market, and the unstable price of zinc made some purchases still cautious. The market was dominated by small single transactions, and the overall market transactions continued to improve. Short-term attention to the exchange rate of the US dollar and RMB, and it is expected that zinc will fluctuate strongly in the short term.
Stainless Steel: The outer is closed for the Easter holiday, and there is no LME nickel guide. The rebound of domestic stainless steel futures fluctuates within a narrow range, and the spot market trading remains cautious. The scrap industry began to consider pre-holiday storage, and some manufacturers actively purchased, and the receiving price was raised from a low level. The after-market pays attention to the improvement of rigid demand, and stainless steel shows signs of rebound. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market has risen in an all-round way, and the transaction has improved accordingly. It is generally expected that the demand in the aluminum market will continue to improve in the second quarter, and the enthusiasm of aluminum manufacturers for purchasing will be significantly improved. The national aluminum social inventory will drop slightly to 864,300 tons. However, due to the high aluminum price and the strong profit-making mentality of the holders, the spot aluminum ingots are still traded at a discount of over 100 yuan.
Zinc: Domestic favorable policies continued to be exported, and SHFE zinc rose, which stimulated the enthusiasm of market procurement, and downstream manufacturers went into the market to purchase stocks on dips. Recently, the news dominated the market, and the unstable price of zinc made some purchases still cautious. The market was dominated by small single transactions, and the overall market transactions continued to improve. Short-term attention to the exchange rate of the US dollar and RMB, and it is expected that zinc will fluctuate strongly in the short term.
Stainless Steel: The outer is closed for the Easter holiday, and there is no LME nickel guide. The rebound of domestic stainless steel futures fluctuates within a narrow range, and the spot market trading remains cautious. The scrap industry began to consider pre-holiday storage, and some manufacturers actively purchased, and the receiving price was raised from a low level. The after-market pays attention to the improvement of rigid demand, and stainless steel shows signs of rebound. (Analyzed by LTIT)
WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free!
