 |
| |
| Metal scraps performances in Foshan market on April 22 |
| 2024-4-22 |
Copper: The spot copper price in Foshan market rose strongly today, and the bullish sentiment in the market warmed up. Supply worries boosted the fund's overbought sentiment. Driven by the improvement of global economic prospects, copper prices rose more than expected. LME copper hit $9,988 in the morning, and the $10,000 mark was close at hand. SHFE copper's main contract hit $81,050, once again refreshing the highest level in 18 years. At present, there is no lack of bullish news in the copper market. Big investment banks are bullish on copper prices in the afternoon, while Citigroup and Goldman Sachs are looking at $12,000. However, after the sharp rise of copper price, the demand of spot copper market was greatly suppressed, copper products were obviously unsalable, and even factories and enterprises sold finished products as raw materials. The trader suggest that the callback risk should be paid attention to when the price is high and the demand is suppressed.
Aluminum: Today, the price of aluminum in Foshan market has risen sharply. The domestic economy is expected to boost the confidence of the aluminum market, consumer expectations remain resilient, and the spot market remains optimistic about the after-market. Downstream traders maintained rigid-demand replenishment, and the situation of aluminum ingots leaving the warehouse improved. Although aluminum prices are at risk of profit at any time, domestic aluminum prices may continue to fluctuate strongly driven by LME aluminum.
Zinc: Driven by the strong surge of copper price, the zinc price in Foshan market has ushered in a moderate increase today. The cautious attitude of the market dominates the market, and traders are under great pressure to receive goods. Most of them make inquiries after receiving orders. Downstream manufacturers are worried about the after-market, and their purchasing enthusiasm is not high. The trading atmosphere in the market is quiet. Driven by the surge in copper, the overall direction of zinc is still bullish.
Stainless Steel: The news that Russian metal was sanctioned continued to ferment, and the price of nickel finally surged. LME Nickel successfully broke through the $19,000 mark and refreshed the high point of the year, which stimulated SHFE Nickel to rise sharply on Monday, stainless steel futures continued to rise, and the price increase in the spot market will be tested. The scrap traders are cautious, the manufacturers' purchasing and offering prices are conservative, and the market is rising. (Analyzed by LTIT)
|
| |
| WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free! |
|
| |
|
|
|
2024-4-29
|
Item |
SHFE |
Change |
Cu |
287498 |
-12547 |
Al |
223859 |
-4678 |
Zn |
127792 |
-3955 |
Item |
LME |
Change |
Cu |
117500 |
-1050 |
Al |
492750 |
-1400 |
Zn |
255400 |
+950 |
Ni |
78594 |
+810 |
|
 |
 |
 |
2023-5-15 |
|
| |
1 USD= |
6.7021 |
Inverse: |
0.14921 |
|
1 EUR= |
7.8800 |
Inverse: |
0.12690 |
|
1 GBP= |
8.6373 |
Inverse: |
0.11578 |
|
1 AUD= |
5.2589 |
Inverse: |
0.19015 |
|
|
|
 |
|
|
|
|
|
