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Metal scraps performances in Foshan market on October 16
2018-10-16

 

Copper:

Today's Foshan market reclaimed copper prices continue to decline. Short term trend is weak, and the direction is not yet clear. At the current level, shippers have been more active on concerns that short-term copper prices still have room for a correction. However, due to the high cost of inventory and the difficulty of replenishing goods, the reluctance to sell is still strong. In the fourth quarter, due to a long-term shortage of imported reclaimed copper supplement, and quite limited domestic supply, the domestic supply of reclaimed copper resources continues to be tight. Therefore, at present, the industry is very concerned about the import of solid waste. It had previously been announced that the import of seven categories of waste, such as power lines, would be banned at the end of 2018. If the supply of reclaimed copper continues to be scarce in the future, where will the future copper industry go?

 

Aluminum:

Aluminum prices in Foshan market have been postponed the fall and increased slightly today. Market worries have eased. However, the fundamentals of aluminum market are still weak. the local market after the holiday significantly increased warehouses. The supply of aluminum ingots is abundant, but the orders are not as good as expected. Buyers in the aluminum market are still cautious purchasing, most remain on demand.

 

Zinc:

The price of zinc in the Foshan market has dropped sharply today, and the anxiety in the market has obviously increased. The overall demand for zinc is still weak. When prices fall, most manufacturers maintain on-demand purchases. Middlemen and traders usually go to the market to ask for goods after receiving orders, and the quantity is very limited.

 

Stainless steel:

The scrap price of stainless steel in Foshan market is down today, mainly due to a sharp decline in nickel prices. At present, the market for stainless steel products is sluggish, and steel mills have lowered their product quotations. In terms of raw material procurement, the phenomenon of price reduction is more common. After receiving the order, the recycling trader also follows for a small price reduction. (Source: Lingtong Metal Information)

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