SMM Weekly Review on Brass Imports (Jul. 16-20)-Shanghai Metals Market

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SMM Weekly Review on Brass Imports (Jul. 16-20)

SMM Insight 03:47:02PM Jul 24, 2012 Source:SMM

SHANGHAI, Jul. 24 (SMM) –Turning to the brass market, CIF quotations for US brass, Western were roughly USD 5,050/mt last week. Mainstream offers were down to RMB 39,000-39,300/mt on China's domestic markets. Brass prices are driven more by physical demand than by finance-driven trading and are thus relatively little affected by copper price volatility. Profits on imported brass held stable near RMB 1,000/mt last week, but most brass importers stuck to their source-to-order strategy owing to uncertainty in future copper price trends.
 

SMM Weekly Review on Brass Imports (Jul. 16-20)

SMM Insight 03:47:02PM Jul 24, 2012 Source:SMM

SHANGHAI, Jul. 24 (SMM) –Turning to the brass market, CIF quotations for US brass, Western were roughly USD 5,050/mt last week. Mainstream offers were down to RMB 39,000-39,300/mt on China's domestic markets. Brass prices are driven more by physical demand than by finance-driven trading and are thus relatively little affected by copper price volatility. Profits on imported brass held stable near RMB 1,000/mt last week, but most brass importers stuck to their source-to-order strategy owing to uncertainty in future copper price trends.