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Metal scraps performances in Foshan market on December 11
2018-12-11

Copper:

There is little change in the regenerated copper price in Foshan market today, and the market is relatively quiet. In December, copper prices continued to weaken. Although the decline in copper prices slowed this week, market confidence remained low, with copper manufacturers and traders still watching carefully.It is understood that in December, the off-season effect became more and more obvious, the order volume of copper rod factory decreased significantly, and the pressure of capital shortage at the end of the year was also very obvious, which suppressed the purchasing power of the market. The import ban of "Abolishing Seven Categories" will be implemented from December 31, when the domestic supply of recycled copper will become even tighter. According to customs data, the cumulative import volume of scrap copper in the previous September was about 1.8 million tons in kind, down 35.01% year on year. In addition, due to the impact of environmental protection policies, the dismantling cost of scrap copper has been greatly increased.

 

Aluminum:

Today, the price of aluminum in Foshan market rose slightly, and the recent fluctuation was intense. However, the demand of the aluminum market is greatly weakened and the aluminum social inventory remains high. Generally speaking, the industry still lacks confidence in the future aluminum price trend. As a result, after days of rebound in aluminum prices, buyers' buying enthusiasm has declined again, and they have not dared to rush up to receive goods and have been cautious in trading.

 

Zinc:

Today, the price of zinc in Foshan market dropped slightly, and the drop in price hit the market enthusiasm. At present, smelters are more active in shipping, but traders and middlemen are still waiting to receive the goods. On the one hand, the demand in the zinc market is weak, and on the other hand, the price of zinc is still kept at a higher premium. The order of zinc manufacturers is not good, they are afraid of falling and they are cautious in buying.

 

Stainless steel:

Today, the price of scrap stainless steel in Foshan market continues to fall. The recent weak performance of nickel price has dealt a heavy blow to the stainless steel market. Steel mills have lowered their product prices and the price of scrap stainless steel has fallen under pressure. In the face of the steel mills' price reduction, the recyclers only have to accept the goods at a further price reduction, but most of them said they would keep the operation of light warehouses and mainly withdraw funds. (Source: Lingtong Metal Information)

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