Copper:

Recycled copper prices in Foshan were stable today as striking miners at the Chilean mine considered new contract terms, supply worries may relief, and profit from capital weighed on the LME copper's decline. Another analysis points out that without real progress in the Sino-US talks, copper prices are unlikely to continue to rebound strongly in the short term. Therefore, in the current weak macroscopic situation, copper manufacturers and traders are still cautious wait-and-see. However, because of the current domestic renewable copper supply continued to be tight, the price of goods holders is still strong. The ministry said it aims to release the first batch of approvals by the end of June, while national standards for the conversion of solid waste to resources are expected to be released around October with the market expecting a sharp decline in scrap copper imports in the third quarter.

Aluminum: Foshan aluminum market today maintained a narrow range of volatility. Short-term aluminum price rebound is still weak, and 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. The decline in demand on the aluminum market trading confidence caused a greater impact, and aluminum market traders purchase cautious.

Zinc: Today Foshan market zinc prices fell again, the decline is larger, and the market is still strong fear of decline. Most of the zinc manufacturers are still cautious wait-and-see, and purchasing enthusiasm is not high. However, there are also some merchants believe that the price of zinc fell to the current level, continue to fall space is limited, waiting for the market bottom replenishment. Recent transactions have been concentrated mainly among traders.

Stainless steel: Today Foshan market scrap stainless steel prices rose slightly, nickel price rebound for the stainless steel market to bring optimism. At present, more people are optimistic about the short-term price of nickel. They buy more actively, and some even catch up with higher receipts to facilitate the transaction. At present, domestic scrap stainless steel supply continued to be tight, holding firm prices, and transactions to good.  (Source: Lingtong Metal Information)