SMM Weekly Review on Brass Imports (Jun. 11-15)

SHANGHAI, Jun. 19 (SMM) –Turning to the brass market, CIF quotations for US brass, Western retreated to USD 5,000-5,050/mt last week. Mainstream offers were RMB 39,000-39,200/mt on China's domestic markets. As copper prices stayed low last week, and as honey fell only marginally, scrap copper regained an appreciable price advantage over brass, precipitating a slowing in brass sales. Brass traders thus preferred to cut existing inventories and were little interested in importing brass out of fears that future copper prices will weaken further.