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Metal scraps performances in Foshan market on December 7
2018-12-7

Copper:

There has been little overall change in the regenerated copper price in Foshan market today. After the previous three consecutive declines, the purchase atmosphere in the market is obviously cautious. Although the price of copper has fallen considerably, the willingness of copper manufacturers and traders to purchase is still not high and the market transaction is weak. According to the analysis, on the one hand, because the fall in copper prices weakens their optimistic expectations for short-term copper prices, will the final outcome of the Sino-US trade talks meet expectations? Will the Federal Reserve raise interest rates as scheduled? All these will have a great impact on the short-term copper price. On the other hand, at the end of the year, the demand of copper market decreased obviously, while the shortage of funds also increased, weakening buyers' buying enthusiasm. Some dealers said that China will ban imports of scrap seven kinds of metals by the end of the year, and it is expected that the supply of domestic recycled copper will become more scarce next year.

 

Aluminum:

Today, the price of aluminum in Foshan market dropped slightly, and the transaction is still weak. Since the beginning of September, the price of aluminum has been continuously fluctuating downward and has fallen by nearly 1500 yuan/ton, but aluminum manufacturers and traders are still cautious about buying. At present, the demand in the aluminum market is obviously weakening and the funds are very tight. Aluminum manufacturers are still mainly purchasing according to demand, and they have followed up with the final payment.

 

Zinc:

Today, the price of zinc in Foshan market is rising at a moderate rate, with strong short-term fluctuations but limited promotion to market transactions.At present, smelters are actively shipping goods, but traders and middlemen are not actively receiving them. On the one hand, it is because the demand for zinc in the current market is weak, and on the other hand, the zinc price still keeps a higher premium. The order of zinc manufacturers is not good, they are afraid of falling and they are cautious in buying.

 

Stainless steel:

Today, the price of scrap stainless steel in Foshan market dropped slightly and the transaction continued to be light. The renewed decline in nickel prices has hit the slightly recovered scrap stainless steel market with a renewed wait-and-see atmosphere, resulting in a standoff between the buyer's price reduction and the seller's hold on the goods. At present, the dealers have great differences on the future trend. After all, the price has dropped to the lowest level in the year. (Source: Lingtong Metal Information)

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