SMM Weekly Review on Brass Imports (Jan. 14-18)-Shanghai Metals Market

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SMM Weekly Review on Brass Imports (Jan. 14-18)

SMM Insight 01:27:55PM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) –Turning to the brass market, CIF quotations for US brass, Western held between USD 5,100-5,150/mt last week. CIF quotations for Bulgarian brass were still approximately USD 4,800/mt, and around USD 4,670/mt for German and Spanish brass. Mainstream offers for US brass, Western also remained unchanged between RMB 38,300-38,700/mt on China's domestic markets. Brass traders opted to stand on the sidelines owing to uncertainty in import approvals for 2013 as well as the Chinese New Year holiday factor. As such, SMM believes that arrivals of brass at Chinese ports will decrease for the foreseeable future.

 

SMM Weekly Review on Brass Imports (Jan. 14-18)

SMM Insight 01:27:55PM Jan 22, 2013 Source:SMM

SHANGHAI, Jan. 22 (SMM) –Turning to the brass market, CIF quotations for US brass, Western held between USD 5,100-5,150/mt last week. CIF quotations for Bulgarian brass were still approximately USD 4,800/mt, and around USD 4,670/mt for German and Spanish brass. Mainstream offers for US brass, Western also remained unchanged between RMB 38,300-38,700/mt on China's domestic markets. Brass traders opted to stand on the sidelines owing to uncertainty in import approvals for 2013 as well as the Chinese New Year holiday factor. As such, SMM believes that arrivals of brass at Chinese ports will decrease for the foreseeable future.