National Day holiday approaches, brass billet operating rates continue to pull back [SMM Brass Billet Market Weekly Review]

Published: Sep 30, 2026 10:52 (GMT+8)

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This week (9.25-10.1), the operating rate of SMM brass billet sample enterprises was 37.90%, down 11.93 percentage points WoW.Affected by the Mid-Autumn Festival and National Day holidays, enterprises successively arranged shutdowns, and production contracted significantly. With copper prices at high levels and the supply of secondary brass raw materials tightening, processing margins were thin, downstream pre-holiday stockpiling enthusiasm was weak, stockpiling volumes were lower than the same period last year, and finished product destocking was slow. Looking ahead to next week (10.2-10.8), workers at sample enterprises are generally on holiday for 4-5 days, with the average holiday duration basically flat YoY, edging up 0.08 days. SMM expects the operating rate of brass billet sample enterprises to pull back further to 34.51%, down 3.39 percentage points WoW.With copper prices remaining at high levels, enterprises remain cautious, and SMM expects demand in October to be unlikely to show significant improvement.

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[SMM Brass Rod Flash] Looking ahead to next week (10.2-10.8), workers at SMM copper billet sample enterprises will generally be on holiday for 4-5 days, with the average holiday duration basically flat YoY, edging up 0.08 days. SMM expects the operating rate of brass billet sample enterprises to pull back further to 34.51%, down 3.39 percentage points MoM. With copper prices remaining high, enterprises are cautious, and SMM expects demand in October to show little improvement.

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[SMM Brass Rod Flash] This week (9.25-10.1), the operating rate of SMM brass rod sample enterprises was 37.90%, down 11.93 percentage points WoW. Affected by the Mid-Autumn Festival and National Day holidays, enterprises arranged shutdowns one after another, and production contracted significantly. High copper prices, coupled with tightening supply of recycled brass raw materials, led to thin processing margins. Downstream pre-holiday stockpiling enthusiasm was weak, with stockpiling volumes lower than the same period last year, and destocking of finished products was slow.

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