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| Metal scraps performances in Foshan market on August 27 |
| 2021-8-27 |
Copper: Today, the price of recycled copper in Foshan market continues to fall slightly, and the short-term high fluctuation pattern is obvious. Investors are waiting for Federal Reserve Chairman Jerome Powell to deliver a speech at Jackson Hole Central Bank Annual Meeting, looking for clues as to whether quantitative easing (QE) policy is about to exit. At present, the price difference of refined copper waste in domestic market has narrowed to the extreme level, which continues to benefit the consumption of electrolytic copper, and the inventory of electrolytic copper in Guangdong market continues to decline. At present, the supply of recycled copper is very tight due to the lack of import supply. The price difference between recycled copper and electrolytic copper is narrowed, which further suppresses the market consumption power. The transaction is relatively inferior. At present, factories and enterprises generally think that the recycled copper price is on the high side, and they are worried about the callback risk of short-term copper price. Therefore, they are very cautious and wait and see.
Aluminum: Today, the aluminum price in Foshan market rebounded slightly. SHFE Aluminum rose against the market, heading for the 21000 mark, and its strength was obvious, which drove the current aluminum price to rise comprehensively. Recently, the continuous increase of aluminum price has greatly increased the cost pressure. The profit of electrolytic aluminum production on the other side has exceeded 5,000 yuan/ton, and the huge profit may face the risk of high callback. Manufacturers are cautious in purchasing goods at the end of the month.
Zinc: Today, the zinc price in Foshan market continues to fall, the rising of zinc price is weak, and the fear of falling is resurgent. Downstream middlemen and traders are worried about the trend of zinc market, and a large number of purchases are still few. Traders keep their enthusiasm for shipment, and material manufacturers are not willing to buy. Most of them keep purchasing on demand, and market transactions are weak. A speech by the chairman of the Federal Reserve at night may make zinc prices fluctuate.
Stainless Steel: The price of stainless steel in Foshan market fell slightly today. Nickel prices fell, and then factors such as inertia pressure at the end of the month were superimposed, which made the steel strip market more quiet. However, the scrap market was extremely tough under the support of high-priced orders from large steel mills. Some buyers in the industry firmly maintained high prices and competed for the supply of goods, and the transaction price was deadlocked at a recent high. (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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