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SMM Weekly Review on Brass Imports (Aug. 15-19)
Aug 23, 2011 14:59Source:SMM
As copper rod prices moved lower and orders remained weak in the low demand period, most copper rod suppliers slowed their purchasing pace.
SHANGHAI, Aug. 23 (SMM) –In brass markets, although LME copper prices slid below USD 9,000/mt, brass scrap prices fell to USD 5,650/mt last week, only down USD 200/mt from USD 5,850/mt. Slower declines in brass prices greatly depressed domestic buyer’s buying interest. As copper rod prices moved lower and orders remained weak in the low demand period, most copper rod suppliers slowed their purchasing pace, and mainly made purchases on an as-needed basis. Traders generally stayed out of the market until a clearer price trend was visible.
SMM survey;brass imports
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