Fubao Nonferrous

Weekly trend of waste and non-ferrous metals

Next week's forecast

[Scrap copper] Copper prices fell sharply this week after hitting a record highbingoabradoodle, scrap copper rose by 500 yuan/ton. Holders actively cash in, copper factories have piled up goods, queues for unloading goods are more common, and brass consumption remains low. Copper prices are expected to rise moderately next week after fluctuations in the range, and the main range of Shanghai copper will focus on 8.bingoabradoodle.2- 86,500 yuan, and 73,000 - 77,000 yuan of scrap copper.

[Waste aluminum] Waste aluminum rose steadily this week, with an increase ranging from 0 to 200 yuan. Prices fluctuated more violently during the week, and price adjustments were more frequent. Raw aluminum made up for last week's stagflation and performed slightly better than cooked aluminum. The market is unstable. Affected by insufficient downstream orders, aluminum factories strictly control raw material prices and daily cargo volume. Some companies stop receiving orders at noon. There are many market inquiries, but the actual transaction improvement is not obvious; the Shanghai area is greatly affected by environmental protection and market activity is reduced. Next week, it is expected that the fluctuation of scrap aluminum prices will slow down, with little room for rise and fall, or will stabilize, and there will be insufficient upward momentum. It is recommended that holders can ship appropriately if they are beneficial.

[Waste Battery] Lead showed a downward trend in both domestic and external markets this week, with Shanghai lead down 1.1%, and Lun lead down 0.65%. The spot price of 1 #lead is around 18,200, a cumulative drop of 150 yuan. The price of used battery batteries stopped rising and falling. As of May 24, the price of used electric vehicle batteries in Anhui was about 10,205 - 10,305 yuan/ton, an increase of 70 yuan from last week. The supply of primary lead in the lead concentrate market is limited, and the tight situation cannot be alleviated in the short term. In the recycled lead market, lead prices fell sharply, and the recycling price of used batteries fell. Hoarding traders shipped large quantities, and refineries reported that shipments had improved significantly and replenished inventories. It is expected that the recycling price of used batteries will be mainly adjusted slightly next week.

[Waste zinc] Spot zinc prices rose sharply during the week. As of May 24, the spot price of Fubao No. 0 zinc was 24,430 - 24,530 yuan/ton, a weekly increase of 3.46% from 820 yuan/ton last week. Affected by the copper market, zinc performed strongly at the beginning of the week, reaching a high of 24,000, and many places in the country quickly implemented new real estate policies. The market's expectations for demand prospects were good. Later, Federal Reserve official Qi Yiying believed that the number of interest rate cuts during the year should not be too optimistic. Coupled with the high zinc price, more downstream companies have stopped working due to cost pressure. Zinc prices fell slightly in the second half of the week. It is now approaching the end of the month. It is expected that the market's pro-price sentiment may continue to maintain, and Shanghai zinc may continue to fluctuate at a high level next week. Focus on the range of 24,000 - 25,000 for the time being.