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| Metal scraps performances in Foshan market on December 6 |
| 2024-12-6 |
Copper: The spot copper price in Foshan market rose slightly today, and this week's trend fluctuated strongly, and the trading focus moved up from last week. On the eve of nonfarm payroll, overseas macro volatility is strong, and bulls retreat to wait and see. In addition, investors are counting on the China Central Economic Work Conference later this month, expecting to get more details about the economic growth target and next year's agenda. Prior to this, the market tended to be calm due to the lack of substantive policies, and entered a policy wait-and-see period. The copper price may maintain a range fluctuation without external force breaking. The domestic market is cautious and afraid of heights. At present, the volume of goods is abundant, the social inventory is slowly rising, and the quotations of the goods holders are different, but the price increase and discount are mostly downward, the motivation for bidding is insufficient, the willingness to purchase downstream is weakened, and the number of transactions is less.
Aluminum: Today, the aluminum price in Foshan market reappears its decline. This week, the trend first rises and then falls, and the fall of alumina price is a drag on the aluminum price. At present, the stock of aluminum ingots remains low, the cost support of alumina price still exists, and the short-term aluminum price decline is expected to be limited. However, the problem of weak demand for spot aluminum market is still prominent, the transaction is weak, and the short-term aluminum price increase is expected to be limited.
Zinc: The high level of zinc fluctuates strongly, the asking price of traders is firm, the buyers are cautious and mainly purchase on demand. In the case of weak market transactions, it also drags down the enthusiasm of traders to receive goods to a certain extent, and the overall market transactions are average. The tight supply at the mine end is still a strong support, the demand side remains weak, and the risk of short-term soft positions still exists, and the after-market is cautiously bullish.
Stainless Steel: Even if LME nickel rebounded to the 16,000 mark, the domestic futures market still fell, and the spot market transactions maintained a wait-and-see atmosphere. The scrap industry purchased on demand, and the bargaining between buyers and sellers was prone to deadlock. The lack of supply circulation continued to support the price. The short-term market lacks favorable stimulus, but the downside is limited and the market fluctuates. (Analyzed by LTIT)
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2024-12-19
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Item |
SHFE |
Change |
Cu |
84557 |
-13199 |
Al |
214501 |
-9875 |
Zn |
50666 |
-2317 |
Item |
LME |
Change |
Cu |
272325 |
+0 |
Al |
665025 |
-2500 |
Zn |
257525 |
-2875 |
Ni |
161238 |
+318 |
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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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