July Brass Billet Imports Contract Sharply MoM, Cumulative Imports Still Post YoY Growth [SMM Analysis]

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

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

In terms of import value, July brass billet import value was $22,923,200, down 23.65% MoM and up 23.04% YoY; cumulative import value from Jan to Jul 2026 was $158,656,000, up 31.74% YoY. Monthly import volumes pulled back significantly MoM, but import value still maintained positive YoY growth, indirectly reflecting that import values stayed high.

SMM believes that the substantial MoM pullback in July's brass billet imports was mainly due to domestic downstream entering the traditional consumption off-season, weak domestic end-use demand for brass billet, processing enterprises mainly consuming their own inventories, weakened purchase willingness from outside China, and contracted import orders. However, cumulative imports from Jan to Jul still achieved positive YoY growth, with ex-China sources still playing a supplementary role for China. Going forward, domestic end-use demand for brass billet has not shown clear signs of recovery; if no concentrated restocking occurs, brass billet imports may remain in the doldrums.