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| Metal scraps performances in Foshan market on December 11 |
| 2024-12-11 |
Copper: The spot copper price in Foshan market stopped falling and rallied today, mainly driven by the rise of copper futures, and the market trading was tepid. China's policy released a positive signal to boost market confidence, and SHFE copper stocks continued to decline, reflecting that domestic demand is steadily recovering, which still supports the rise of copper prices in the short term. At present, the market focuses on the release of CPI data in the United States, investors are cautious, and procurement activities tend to wait and see. It is expected that copper prices will fluctuate mainly. It should be noted that near the end of the year, the upward height of copper prices may be limited, copper manufacturers will focus on the withdrawal of funds, and the tightening of capital liquidity at the end of the year will also limit trading activity. The traders are still optimistic about the trend of copper after-market, and it is expected that the copper price will fluctuate mainly in the market outlook, but the direction is still strong.
Aluminum: Today, the price of aluminum in Foshan market rose slightly, and the market trading remained cautious. At present, the global market focuses on the inflation data of the United States, and the enthusiasm of the aluminum market has declined, limiting the rebound height of aluminum prices. At present, the domestic cost remains high, with the total cost of electrolytic aluminum losing more than half to the increase in production reduction and maintenance, and the domestic policy signal is warmer, and the aluminum ingot library is at a low level during the year, supporting the aluminum price.
Zinc: Politburo meeting of the Chinese Communist Party released a favorable signal that the price of zinc continued to rise, and the trading atmosphere in the market was stable. As the price of zinc was always at a high level, merchants were bullish and did not chase after the increase, and manufacturers basically maintained on-demand procurement, and the overall market transaction was average. The inventory of zinc ingots declined, and the supply side was still relatively tight. The policy helped the market sentiment to be optimistic, and the short-term after-market was still cautiously bullish.
Stainless Steel: LME nickel suddenly fell below the 16,000 mark again, dragging down the domestic nickel price, the stainless steel futures fell, the steel strip price in the spot market was firm, the bargaining between the two parties in the scrap industry was deadlocked, and the lack of supply had obvious support for the current price. In the after-market, attention should be paid to the persistence of policy stimulus, and stainless steel should maintain the idea of interval shock. (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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