SMM Weekly Survey on Brass Scrap Inventories (Aug. 1-5)

SHANGHAI, Aug. 8 (SMM) –Based on SMM survey, brass scrap inventories increased slightly last week, with the turnover period returning to eight days, and due largely to the fact that goods ordered earlier arrived in the markets in succession. Consumption of brass scrap inventories weakened in the previous week, as brass prices tended to ease over the past week. Furthermore, coupled with higher copper prices, a seasonal low demand period kept downstream producer’s purchasing interest at a relatively low level, limiting brass scrap inventories.