Metal Scrap Performance in China
Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on June 19
2024-6-19
Copper: Today, the spot copper price in Foshan market has risen steadily, and the price has shown signs of stopping falling, but the rebound rate is still quite limited, which shows that market confidence has not recovered. Since late May, copper futures prices have fallen successively. In less than a month, the main contract of SHFE copper dropped from the highest price of 88,940 yuan/ton on May 20th to the lowest price of 77,760 yuan/ton last night, a drop of 12.6%. Despite the huge cumulative decline in copper prices, the risks have been released, but with the deepening of the off-season, copper manufacturers are still mainly purchasing on demand, and their mentality is cautious.
Aluminum: Today, the price of aluminum in Foshan market continues to rise slightly, and the risk of aluminum falling back more than 1,500 yuan/ton is constantly released; Energy saving and carbon reduction are put on the agenda again in summer, and quarterly settlement boosts some demand; Recently, capital aluminum us attracted, but sufficient supply and weak demand in the off-season will suppress the rebound, and traders will pay attention to whether it can "turn over" in July.
Zinc: Today, the price of zinc in Foshan market rebounded, and the overall market turnover has not changed much compared with the last two days, mainly because people in the industry generally believe that the current zinc price is still unstable, and they are worried that the zinc price will continue to drop after attracting more. In addition, it is always a demand problem, and the transaction is still dull. The market demand is not good, and it is expected that the overall trend will still be downward.
Stainless Steel: LME nickel continued to fall, approaching the $17,000 mark step by step. The decline in nickel prices has not only continued to undermine the confidence of the stainless steel market, but also faced with the weakening demand in the off-season, which is generally optimistic about the after-market, and the downward pressure on steel strip prices is greater. Due to the consideration of cost and profit, steel mills have a strong mentality of receiving goods at a low price, and the scrap industry maintains a low-price trading atmosphere. At present, the fundamentals are weak and the market rebound is weak. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market continues to rise slightly, and the risk of aluminum falling back more than 1,500 yuan/ton is constantly released; Energy saving and carbon reduction are put on the agenda again in summer, and quarterly settlement boosts some demand; Recently, capital aluminum us attracted, but sufficient supply and weak demand in the off-season will suppress the rebound, and traders will pay attention to whether it can "turn over" in July.
Zinc: Today, the price of zinc in Foshan market rebounded, and the overall market turnover has not changed much compared with the last two days, mainly because people in the industry generally believe that the current zinc price is still unstable, and they are worried that the zinc price will continue to drop after attracting more. In addition, it is always a demand problem, and the transaction is still dull. The market demand is not good, and it is expected that the overall trend will still be downward.
Stainless Steel: LME nickel continued to fall, approaching the $17,000 mark step by step. The decline in nickel prices has not only continued to undermine the confidence of the stainless steel market, but also faced with the weakening demand in the off-season, which is generally optimistic about the after-market, and the downward pressure on steel strip prices is greater. Due to the consideration of cost and profit, steel mills have a strong mentality of receiving goods at a low price, and the scrap industry maintains a low-price trading atmosphere. At present, the fundamentals are weak and the market rebound is weak. (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!
