Operating rates of copper billet producers continued to rise before the holiday, but are expected to pull back sharply next week as the long holiday approaches [SMM Brass Billet Market Weekly Review]

This week (9.18-9.24), the operating rate of SMM brass billet sample enterprises was 49.83%, up 1.09 percentage points WoW.During the week, some enterprises rushed to meet production deadlines, and combined with pre-holiday raw material stocking plans, this drove operating rates to continue rising. On the raw material side, the tight supply pattern of secondary brass remained unchanged, raw material prices fluctuated at highs, processing profits remained razor-thin, and enterprises maintained restocking on an as-needed basis. On the demand side, downstream cargo pick-up before the holiday was limited, finished product destocking was slow, and the decline in finished product inventories at sample enterprises narrowed this week. Looking ahead to next week (9.25-10.1), with the dual holidays approaching, many enterprises plan to halt production for the holiday, and SMM expects the operating rate of brass billet sample enterprises to pull back significantly to 36.49%, down 13.34 percentage points WoW.