Aluminum: SHFE aluminum rebounded strongly, which led to a sharp rise in spot aluminum prices. Recently, the low price rebound of aluminum has attracted many aluminum manufacturers and traders to actively replenish the market, and the transaction has improved. The national aluminum social inventory has continued to decline. The peak of electricity consumption in summer is approaching, and the industry is concerned about the power shortage in major aluminum producing and consuming provinces, and it is expected that the short-term aluminum trend will fluctuate mainly.
Zinc: China Caixin PMI data was higher than expected, and zinc price rebounded at a low level. Most of the market participants are cautious, and the willingness of cargo holders to ship has declined. The downstream materials manufacturers have obvious wait-and-see mood, and most of them are mainly based on inquiry. Today, the market turnover is stable.
Stainless Steel: The release of macroeconomic data was favorable, which stimulated market sentiment and metals rose across the board. Although stainless steel futures stopped falling and rose, it was unable to boost the spot market. The production cost of steel mills was upside down. Large steel mills took the lead in lowering the purchase price of waste materials, and manufacturers in the industry followed suit and the market continued to fall. (Analyzed by LTIT)
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