SMM Weekly Review on Brass Imports (Jan. 21-25)

SHANGHAI, Jan. 30 (SMM) –Turning to the brass market, CIF quotations for US brass, Western climbed gradually to USD 5,200-5,250/mt last week. CIF offers for Bulgarian brass were raised to around USD 4,900/mt, and around USD 4,800/mt for German and Spanish brass. Mainstream quotes for US brass, Western marched higher to RMB 38,400-38,800/mt on China’s domestic markets. Inasmuch as overseas brass suppliers opted to withhold goods in anticipation for higher prices, CIF quotations for brass trended higher. This began incurring losses for brass importers who became unwilling to import.