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Market Wire
2020-7-30

Copper: Today, the price of recycled copper in Foshan market continues to show steady performance. This week, copper keeps fluctuating at a high level, and there is no direction to be found at present. Now, the trading atmosphere in copper market tends to be cautious. 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 the copper manufacturers, near the end of the month, the shortage of funds is more prominent, and the off-season effect begins to appear, and the orders are weak, so the purchase is still based on demand, and the purchase quantity is limited. However, carriers generally report that the supply of goods is less, especially in the case of huge price difference between electrolytic copper and recycled copper, and they are more reluctant to sell recycled copper. At present, the price of electrolytic copper is slightly discounted due to the lack of market consumption power. Aluminum: Today, the aluminum price in Foshan market has further increased, and the low inventory has brought strong support to the aluminum price, and the price has risen again and again. However, aluminum manufacturers are cautious about this. They think that the surge in the off-season and epidemic situation will not last long, so there is no plan to catch up with the goods. Although the current aluminum inventory is still at a low level, merchants are still worried about the profit correction of aluminum price. Zinc: Today, the zinc price in Foshan market continues to surge, which surprised the market. At present, smelting plants are taking advantage of the opportunity to actively deliver goods, making profits first. However, the rising price of zinc also makes the cautious mood of the market heat up sharply. Most traders hold a wait-and-see attitude and basically keep inventory-oriented, while downstream zinc manufacturers only ask for goods after receiving orders, and the transactions are dull. Stainless Steel: Today, the price of waste stainless steel in Foshan market continued to show steady performance, and did not rise with nickel futures. Most of the waste materials purchased by steel mills still maintain a flat quotation, and the waste stainless steel recyclers have to stay on hold, mostly trading at a stable price. On the whole, the short-term stainless steel and its scrap market keeps up. (Source: Lingtong Metal Information)

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