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Metal scraps performances in Foshan market on April 15
2021-4-15

Copper: Today, the recycled copper price in Foshan market ushered in a sharp rise, and the market trading sentiment obviously warmed up.The market expects the economy to improve in the second quarter and the US dollar index continues to soften and stimulate. The capital is once again long in the copper market, and the copper price of LME copper has risen to US$ 9,000. However, the domestic copper price rebounded strongly after the fourth test of RMB 65,000, and the price returned to the level range of 67,000. The traders expect that the short-term copper price will remain high and strong. However, the high copper price also restricts the trading of copper market to some extent. After all, the current peak demand season of copper market has not arrived as scheduled, and the phenomenon that the peak season is not prosperous is still quite prominent for the time being. Therefore, goods holders and users basically maintain low prices and are reluctant to sell. High price and prudent strategy, limited trading volume.


Aluminum: Today, the price of aluminum in Foshan market has risen sharply. SHFE aluminum is above 18,000 yuan, and its short-term trend is strong. Although the news of limited production of aluminum ingots in Xinjiang has been falsified, the current rise of aluminum price is the release of bullish sentiment on the one hand, and the strength of fundamentals on the other hand. With the downstream consumption entering the peak season, the traders expect that the aluminum price will be higher in the second quarter.


Zinc: Today, the zinc price in Foshan market is rising along with the market, and the market wait-and-see atmosphere remains unchanged. Most downstream manufacturers and traders kept a cautious attitude and did not replenish stocks in large quantities. Market participants said that the current zinc price was too high, and SHFE zinc failed to stand firm at 22,000 points for many times, and thought that the strength of zinc price continued to rise was further reduced. Fear of high price sentiment enveloped the market, resulting in dull spot trading.


Stainless Steel: Today, the price performance of stainless steel in Foshan market is stable, the rebound of nickel price is weak, and the transaction of steel strip is slack. The waste stainless steel market is restricted by worries and bearish atmosphere. Manufacturers and buyers keep receiving goods at low prices, forming a stalemate with the reluctance to sell goods, and the market is weak and stable.

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