April 7 quotation of scrap copper in Guangdong

【SMM Copper Inventory Alert】Copper cathode inventories in mainstream regions across China accumulated slightly MoM. In the Shanghai market, the pullback in copper prices boosted downstream purchasing, causing inventories to shift from an increase to a decrease; in Jiangsu, the pullback in copper prices drove a recovery in end-use demand, and inventories declined in tandem; in Guangdong, mid-year downstream consumption slowed down, and smelters increased shipments into warehouses, resulting in a continued inventory buildup in the region.

[SMM Brass Billet Flash] Next week (6.26-7.2), demand in the traditional off-season is still unlikely to see a substantial recovery. Amid copper price fluctuations, end-users remain cautious, and orders are unlikely to rebound significantly. SMM expects that next week, the operating rate of brass billet will edge up 0.29 percentage points WoW to 51.02%, with industry production remaining under pressure at low levels.