SMM Weekly Review on Brass Imports (Oct. 31-Nov. 4)

SHANGHAI, Nov. 10 (SMM) –In the brass market, offers for US brass, Western were between USD 5,150-5,200/mt last week, and between RMB 40,500-40,900/mt on China's domestic markets, with domestic brass prices noticeably higher than prices on the overseas market. Recently, both copper rod producers and importers have held brass inventories low, but the stability of their operating rates has not reduced brass demand, exacerbating supply shortages on the brass market. Meanwhile, appreciation of the RMB has made it cheaper for domestic buyers to purchase brass on overseas markets. Overall, brass imports have not risen significantly since importers have become more cautious as the end of the year approaches.