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Metal scraps performances in Foshan market on October 18
2018-10-18

 

Copper:

Today, there has been little change in the regenerated copper price in Foshan market. This week, the trend of copper price is still weak and the market is still cautious. In October, the demand in the copper market did not improve significantly, and many copper rod enterprises reflected the lack of orders. Therefore, the purchasing enthusiasm of raw materials continued to be poor, and the bidding price was relatively low, with the majority of them mainly purchasing at reduced prices. However, the domestic supply of recycled copper is still tight and affected by environmental protection and import supervision. In the last six months, the import volume of recycled copper has declined significantly, and the import cost has increased significantly. Under the policy background that the seventh category of waste such as waste wires will be banned from import by the end of 2018, merchants' desire to order has decreased significantly. The industry is expected that the supply of recycled copper to become more scarce in the fourth quarter and next year, and the suppliers will therefore hold up the price and hold back the sale.

 

Aluminum:

Today, the price of aluminum in Foshan's market dropped moderately, and in the face of another drop after a short recovery, the market was more cautious in trading. On the whole, the aluminum market demand in September and October this year was not at the same level as in previous years, but due to environmental protection factors, manufacturers mostly used aluminum rods to suppress the demand for aluminum ingots. At present, the domestic aluminum ingot spot inventory remains high and the aluminum price is suppressed.

 

Zinc:

The price of zinc in Foshan market rose slightly today, showing signs of a rebound after a series of declines, attracting a small number of speculators into the market to replenish their stocks. However, zinc manufacturers are still mainly purchasing on demand, mainly because the demand in the zinc market is still weak and they are worried that the rise in zinc price will not be sustainable. Traders are cautious in their operations and still enter the market after receiving orders to inquire for purchases.

 

Stainless steel:

Today, the price of scrap stainless steel in Foshan market fluctuated back, mainly due to the decline of nickel price. At present, the supply of waste stainless steel resources is still tight, but the market demand is weak, the market is relatively quiet and the price support is limited. At present, the price trend of scrap stainless steel is mainly affected by the fluctuation of nickel price, and the market should continue to pay attention to the trend of nickel price. (Source: Lingtong Metal Information)

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