Copper Billet Operating Rate Expected To Edge Down Further Next Week

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

[SMM News] According to the latest customs statistics, China's imports of copper-zinc alloy (brass) bars and rods (HS codes: 74072111, 74072119, 74072190) in July 2026 stood at 2,327.56 mt in physical content, down 5.01% YoY and sharply down 26.27% MoM. Cumulative imports over January-July totaled 16,900 mt in physical content, up 4.8% YoY.

[SMM News] The European region became the biggest highlight for copper scrap imports this month, with supply from multiple countries surging. Imports from Spain were 11,900 mt in physical content, up 110.05% YoY; imports from the UK were 10,600 mt in physical content, up 15.00% YoY; and imports from Canada were 9,800 mt in physical content, up 56.27% YoY. The substantial increase in supply from Europe effectively supplemented China's raw material supply.