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Market Trend of Scrap Metal Market on January 06

Release time: 2020/1/6 16:31:29 | Interested | Rating: 3 | Collection:
Copper: Today the price of recycled copper in the Foshan market continued to decline, and the trend continued to weaken in the past week. Tensions between the United States and Iran continue to escalate, and the risk aversion is heating up. Copper prices have dropped one after another, which has severely dampened confidence in the spot copper market. Entering the end of the year, copper market demand gradually weakened, and copper prices were mainly dominated by . Although China has recently released favorable measures, the first time this year has been lowered: the 800 billion funds will flow into the market, but the short-term impact of the geopolitical pattern will still dominate, so industry players are generally worried that the escalation of tensions in the Middle East will promote market risk aversion, May weaken demand for metals. In the short term, the copper market lacks significant positive stimulus, and it is expected that the short-term copper price will still fluctuate and fall.

Aluminum: The price of aluminum in the Foshan market fell slightly today. Although the People's Bank of China has introduced measures to reduce the RRR in the new year to stimulate the real economy, some aluminum companies have begun to enter the Lunar New Year holiday cycle. Consumption has gradually weakened, and accumulation has started, putting pressure on aluminum prices. Recently, there have been special double super phenomenons in the aluminum market: first, the current aluminum super high water premium period aluminum; the second is the monthly super high water premium monthly aluminum price.

Zinc: Today, the price of zinc in the Foshan market stopped falling and rose slightly. Due to the recent weak demand in the zinc market, traders are not eager to purchase goods in the absence of orders, and the market is waiting and watching. At present, downstream zinc manufacturers are mostly worried about the future trend of the zinc market, and are still mainly on-demand procurement. Some downstream manufacturers have gradually entered a shutdown state.

Stainless steel: Today, the price of waste stainless steel in the Foshan market fell further. Due to the sharp decline in the price of nickel, Lun Nickel fell below the $ 14,000 mark. The main nickel in Shanghai fell to around 108,000 yuan. At present, many steel mills have entered the shutdown or furnace shutdown maintenance phase, and the procurement of scrap has slowed down significantly.
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