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

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

SMM Insight 05:27:12PM Jun 19, 2012 Source:SMM

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.
 

Key Words:  China brass markets  

Price

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#1 Refined Cu
May.22
47510.0
-290.0
(-0.61%)
Standard-Grade Copper
May.22
47490.0
-280.0
(-0.59%)
High-Grade Copper
May.22
47530.0
-295.0
(-0.62%)
Guixi copper
May.22
47535.0
-300.0
(-0.63%)
Low-quality copper
May.22
47415.0
-275.0
(-0.58%)

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

SMM Insight 05:27:12PM Jun 19, 2012 Source:SMM

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.
 

Key Words:  China brass markets