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| Metal scraps performances in Foshan market on August 4 |
| 2021-8-4 |
Copper: The recycled copper price in Foshan market continues to fall today. Recently, the copper price has entered a high callback channel, but the overall price is still in the high price range. traders expect that the short-term copper price may continue to fluctuate widely, and the space for further decline is limited. At present, the copper market is interwoven with long and short positions. On the one hand, news of strikes emerge one after another or cause the market to worry about tight supply, which is beneficial to copper prices. On the other hand, Delta variant virus is menacing, which may impact the global economy again, and the demand for metals may be affected. Moreover, short-term policy top pressure and profit callback pressure still exist. At present, the supply of recycled copper in the domestic market is still tight. Affected by the pandemic, the arrival of imported recycled copper continues to decrease, and the cargo holders need to be firm. The demand for electrolytic copper is stimulated and the premium is kept high.
Aluminum: Today, the aluminum price in Foshan market continues to drop slightly. At present, the aluminum market is in the summer off-season, and the weakening demand has dragged down the short-term aluminum price upward, and the epidemic of variant viruses has made the funds more cautious. After the SHFE aluminum test was high, it returned to the range volatility. At present, the high aluminum price has brought great cost pressure to aluminum manufacturers, and they still purchase on demand under the condition of poor demand.
Zinc: The price of zinc in Foshan market continued to fall today, but the decline was narrower than yesterday. After a two-day losing streak, the downstream bargain-hunting inquiry increased, the trading activity among traders improved compared with the previous period, the supply of goods tightened, and the price of goods holders was firm, and the trading volume increased. Recently, multiple bear news gathered, and zinc prices continued to fluctuate mainly. SHFE zinc 22000 points were supported, and materials rebounded in short-term.
Stainless Steel: Today, the price of stainless steel in Foshan market continues to fall, and the stainless steel futures have fallen for several days. This week, the cumulative decline has exceeded RMB 1,500, which immediately triggered panic in the spot market, and the price of steel strip fell sharply. The waste market was also weighed by this pressure, and the risk aversion was rapidly heating up. Manufacturers turned to lower prices and even stopped receiving goods. £¨Analyzed by LTIT£© |
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2024-4-25
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Item |
SHFE |
Change |
Cu |
300045 |
+322 |
Al |
228537 |
-3228 |
Zn |
131747 |
+4113 |
Item |
LME |
Change |
Cu |
120400 |
+175 |
Al |
494875 |
-1675 |
Zn |
254500 |
-600 |
Ni |
77622 |
+744 |
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2023-5-15 |
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1 USD= |
6.7021 |
Inverse: |
0.14921 |
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1 EUR= |
7.8800 |
Inverse: |
0.12690 |
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1 GBP= |
8.6373 |
Inverse: |
0.11578 |
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1 AUD= |
5.2589 |
Inverse: |
0.19015 |
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