Metal Scrap Performance in China
Current location: Home - Metal Scrap Performance in China
Metal scraps performances in Foshan market on April 10
2024-4-10
Copper: The spot copper price in Foshan market rose slightly today, and the increase was obviously narrowed. Copper producers are worried that short-term copper prices will take profits after accumulating huge increases, so they are very cautious in purchasing, and most of them maintain low-priced purchases or wait and see carefully. In the morning, SHFE copper broke through the 77,000-yuan mark in one fell swoop, refreshing the two-year high, and the market differences became more obvious. Many traders were worried that the current copper price was too high to be cold, and the high copper price would also greatly restrict the real demand, and investors' profit-making departure might drag down the copper price correction. However, many traders, watching the multi-capital operation, thought that the short-term copper price was still expected to continue to rise, and they still had expectations for the range of 78,000-79,000. On the whole, the short-term copper price may have limited room to rise, which may show a trend of wide fluctuation in the high range.
Aluminum: Today, the price of aluminum in Foshan market continues to rise, and this week's trend fluctuates strongly. Macro-sentiment is strong and the price of aluminum is quite high. At the same time, the overall bullish atmosphere in the commodity market is strong, which is conducive to maintaining the strong trend of SHFE aluminum. Due to the expectation of the improvement of aluminum market demand in the second quarter, the purchasing mentality of aluminum manufacturers turned slightly positive, and they replenished the goods on the market, and the discount rate of aluminum prices in the local market continued to narrow.
Zinc: The surge in zinc futures approached a one-year high, driving the spot zinc price to soar. Holders are willing to ship goods actively, and downstream manufacturers are obviously afraid of being high and wait-and-see. Most of them are mainly based on inquiry, and manufacturers with rigid demands buy in small quantities, so the market transactions are deserted. The supply at the mine end is still tight, and the traditional consumption has been dragged down. It is estimated that there is still room for zinc price to rise in the short term in this round of metal carnival set off by gold.
Stainless Steel: The macro mood of the metal market is good and the nickel mine is tense. LME nickel rose strongly and successfully broke through the 18 thousand mark, driving the domestic futures market to continue to rally. After the price increase of spot steel strip, the demand follow-up was tested, the scrap industry continued to chase up the atmosphere, manufacturers actively absorbed goods, general transactions tended to be high, and the transaction market was rising steadily. (Analyzed by LTIT)
Aluminum: Today, the price of aluminum in Foshan market continues to rise, and this week's trend fluctuates strongly. Macro-sentiment is strong and the price of aluminum is quite high. At the same time, the overall bullish atmosphere in the commodity market is strong, which is conducive to maintaining the strong trend of SHFE aluminum. Due to the expectation of the improvement of aluminum market demand in the second quarter, the purchasing mentality of aluminum manufacturers turned slightly positive, and they replenished the goods on the market, and the discount rate of aluminum prices in the local market continued to narrow.
Zinc: The surge in zinc futures approached a one-year high, driving the spot zinc price to soar. Holders are willing to ship goods actively, and downstream manufacturers are obviously afraid of being high and wait-and-see. Most of them are mainly based on inquiry, and manufacturers with rigid demands buy in small quantities, so the market transactions are deserted. The supply at the mine end is still tight, and the traditional consumption has been dragged down. It is estimated that there is still room for zinc price to rise in the short term in this round of metal carnival set off by gold.
Stainless Steel: The macro mood of the metal market is good and the nickel mine is tense. LME nickel rose strongly and successfully broke through the 18 thousand mark, driving the domestic futures market to continue to rally. After the price increase of spot steel strip, the demand follow-up was tested, the scrap industry continued to chase up the atmosphere, manufacturers actively absorbed goods, general transactions tended to be high, and the transaction market was rising steadily. (Analyzed by LTIT)
WWW.LINGTONG.INFO is China's most authoritative information provider on non-ferrous scrap metals. Once registered, your account will be available on both Chinese and English websites. More information is waiting for you on www.lingtong.info . Register now for free!
