July brass billet imports sharply contracted MoM, while cumulative imports still kept up YoY [SMM analysis]

       According to the latest customs statistics, China imported 2,327.56 mt in physical content of copper-zinc alloy (brass) bars and rods (HS codes: 74072111, 74072119, 74072190) in July 2026, down 5.01% YoY and sharply down 26.27% MoM; cumulative imports from January to July totaled 16,900 mt in physical content, up 4.8% YoY.

       From the perspective of import source structure, South Korea remained the largest source country for China's brass billet imports.In July, imports of brass billet from South Korea were 893 mt, down 28.53% MoM and up 22.48% YoY, accounting for 39.58% of total imports that month. Thailand rose to the second-largest source, with July imports of 334.5 mt, down 24.76% MoM and up significantly 447.99% YoY. Japan ranked third, with July imports of 326.8 mt, down 35.82% MoM and down 29.03% YoY. The three core supply countries—South Korea, Thailand, and Japan—together accounted for over 60% of total imports in July, maintaining a stable traditional supply landscape in East Asia.

       In terms of import value, the import value of brass billet in July was $22.9232 million, down 23.65% MoM and up 23.04% YoY; cumulative import value from January to July 2026 was $158.656 million, up 31.74% YoY.Monthly imports pulled back significantly MoM, but import value still posted positive growth YoY, indirectly reflecting that import value stayed high.

        SMM believes that the sharp MoM pullback in brass billet imports in July was mainly affected by the domestic downstream entering the traditional consumption off-season, with weak end-use demand for brass billet in China. Processing enterprises mainly consumed their own inventory, overseas purchase willingness weakened, and import orders contracted. However, cumulative imports from January to July still achieved positive YoY growth, indicating that ex-China supply still played a supplementary role for China.Looking ahead, China's end-use demand for brass billet has not yet shown clear signs of recovery. Without concentrated restocking, brass billet imports are likely to remain in the doldrums.