Copper:

Recycled copper prices recovered in Foshan today, mainly due to the strike news support, but the overall rebound in copper prices remains weak. Businesses are cautiously optimistic about short-term copper prices. After all, trade relations between China and the United States are still fraught with worries, and this week's interest rate negotiations by central banks have raised fears of further market volatility. Affected by environmental protection policies and import bans, the domestic supply of recycled copper continues to be tight. Holders are reluctant to sell in the current low price range, and their asking prices are firm. Many recycled copper utilizers said that they were in a difficult situation, and the high price of recycled copper led to a substantial increase in the cost of scrap used by enterprises, while downstream users had limited acceptance of copper rod prices, squeezed profits, and weakened incentives to take orders and purchase. Electrolytic copper premium have narrowed.

Aluminum:

Foshan market aluminum prices continue to fall slightly today, and short-term volatility is weak. Weak off-season demand for aluminum prices put greater pressure. Aluminum ingots continue to be de-stocked in the off-season, but the decline has narrowed considerably, and inventories of aluminium bars have begun to re-accumulate with overall demand shrinking. Falling demand combined with falling prices added caution to purchases by aluminium traders.

Zinc:

Foshan market zinc prices continue to fall today, although the decline moderated from yesterday, but the market fear of a strong atmosphere, trading more cautious. At present, downstream middlemen and traders are worried about the future trend of zinc prices, traders mostly keep low inventory operation, most of them enter the market after receiving orders for inquiries, and downstream zinc manufacturers are mostly waiting and see.

Stainless steel:

 Foshan today market scrap stainless steel prices remain stable. Recently LME nickel repeatedly hit the $12,000 barrier resistance, but has not effectively broken through the rise in the price of waste stainless steel support is limited. At present, the scrap stainless steel industry purchases more cautious, chasing high receipt behavior has died out. Today's bargaining resumed the original price.   (Source: Lingtong Metal Information)