SMM Weekly Review on Brass Imports (July 25th-July 29th)

SHANGHAI, Aug. 2 (SMM) – Last week, prices for brass from American West climbed above USD 5,850/mt, and domestic brass prices kept between RMB 45,000-45,200/mt, narrowing price difference between the two to almost zero. In supply side, overseas suppliers said supply of brass scrap honey remained tight due to a slowdown in global economic recovery, and since new emerging countries’ willingness in accepting high copper prices caused some part of goods supply to shift to India and other countries. In demand side, importers and copper rod processors were unable to keep up with the price gains after brass prices jumped to USD 5,850/mt, given no profit margins at all, and as uncertainties in future copper prices increased importer’s wait-and-see sentiment, keeping market transactions weak.