Copper:

Today, the price of recycled copper in Foshan market continued to show steady performance, and the overall spot copper price changed little this week. This week, copper futures remained at a high level, and there was no direction to be found. The trading atmosphere in the copper market was biased towards caution. At present, the capital is in a risk aversion mood, and the domestic and international copper markets are waiting for more news guidance, hence the price fluctuation range is limited for the time being. According to copper manufacturers, at the end of the month, the problem of capital shortage is more prominent, and the off-season effect begins to appear, and orders are weak. Under the condition of unclear copper price trend, most merchants mainly purchase according to their needs. At present, the supply of recycled copper in China continues to be in short supply, and the price difference of refined waste is greatly widened, so cargo holders are generally reluctant to sell. The market predicts that copper prices will fluctuate around $6,500 in August.

Aluminum: Today, the price of aluminum in Foshan market is temporarily on the rise. After the recent continuous rise, the operators are generally worried that the aluminum market with accumulated huge increase will face profit-taking pressure, and they are also worried that the rising market will not last long in the off-season and epidemic situation, so they are still very cautious in purchasing goods. Based on the worries about the short-term market situation, the premium of spot aluminum price and futures aluminum price in the current month has been narrowing.

Zinc: Today, the price of zinc in Foshan market is stable, and there are signs of correction in zinc futures, which has dealt a blow to the trading confidence of spot zinc market. At present, traders are very cautious in receiving goods, basically maintaining the operation of selling now and buying now, and generally making inquiries after receiving orders. Downstream manufacturers are worried about the zinc price in the market outlook, and they mainly wait and see, and have no intention to open a large number of positions.

Stainless Steel: Today, the price of waste stainless steel in Foshan market continues to be stable. LME nickel was temporarily blocked at the 14000 mark, and the short-term market may fluctuate in the range, so it will challenge the resistance after re-storing the potential. On the whole, the nickel price kept running at a high level this week, which brought optimism to the stainless steel market, and the scrap stainless steel market also followed the upward trend. (Source: Lingtong Metal Information)