SMM Weekly Survey on Brass Scrap Inventories (Aug. 29-Sept.2)

SHANGHAI, Sept. 5 (SMM) –Last week, brass scrap inventories increased compared with the prior week, with the turnover period up to eight days. Traders’ orders booked earlier began to arrive gradually over the past week, with the ordering costs generally between RMB 5,650-5,750/mt. Despite more active purchasing activities compared with the previous week, copper rod enterprises mostly made purchases in the form of orders rather than building stocks. SMM believes that brass scrap inventories would likely increase further for the foreseeable future.