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SMM Weekly Review on Brass Imports (Aug. 22-26)
Aug 30,2011 16:28CST
smm insight
Source:SMM
In the brass market, brass scrap supply on the overseas market was tight last week.

SHANGHAI, Aug. 30 (SMM) –In the brass market, brass scrap supply on the overseas market was tight last week. American West brass offers were above USD 5,650/mt last week, while domestic brass offers were between RMB 43,000-43,500/mt. Although the RMB appreciation reduced overseas ordering costs, profit margins of brass imports remained limited. The slower increasing pace in domestic brass prices was due largely to weak copper rod orders. Based on sources, competition in copper rod markets were very severe, and copper rod profits fell as copper prices increased. Most enterprises were facing the situation of rising raw material prices and slower increasing terminal products, which depressed domestic brass prices. Last week, domestic importers only made orders to maintain inventory turnover, and overall orders remained stable. SMM believes brass supply will remain tight for the foreseeable future.
 

brass imports

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