Copper:

Today, the price of recycled copper in Foshan market has fallen sharply. With the escalation of the Sino-US situation, the market risk aversion is high, which is suppressed by the profit of capital. The futures copper retreated part of the increase, and the spot copper price dropped accordingly. At present, most copper manufacturers maintain a cautious wait-and-see strategy, and the market transactions are weak. The market is worried that the tension between China and the United States will further escalate, which will hit the metal market. Moreover, after entering the third quarter, orders of copper enterprises continued to be weak, and purchases were still mostly on demand, maintaining light warehouse operation. Weak consumption resulted in the recent increase of electrolytic copper inventory. However, the supply of recycled copper is still tight, and it has already entered August, but the new import policy of recycled copper has not been formally implemented. The future import policy of recycled copper is still the focus of market attention.

Aluminum: Today, the aluminum price in Foshan market has dropped by over 100 yuan, and the market transaction is weak, waiting for more news guidance. According to the analysis, the continuous rise last week brought some risk factors to the market. However, for the overall domestic stimulus policy and the low support of the eight major regions of aluminum, which is still about 700,000 tons, it is expected that although the aluminum price needs to be adjusted back, there is not much room for downward movement.

Zinc: Today, the zinc price in Foshan market has risen slightly, but due to the recent sharp rise, the market fear of high temperature rises sharply, and there is a strong wait-and-see atmosphere in the buyer's market. Recently, traders are cautious in receiving goods and basically maintain low inventory operation. In recent days, the zinc price has accumulated a certain increase, and there may be a short-term downward adjustment in the short term, while the overall direction is still bullish.

Stainless Steel: Today, the price of waste stainless steel in Foshan market rose slightly. The stainless steel market transited from the price increase at the end of July to the beginning of August, and the 304 plate and strip trade continued the price increase atmosphere. The waste stainless steel market followed the price increase, and the manufacturers actively prepared materials again. Under the action of the large steel mills raising the purchasing guidance price, the market bargaining price generally chased higher, and the transaction price broke through upwards. (Source: Lingtong Metal Information)