Copper Prices Fluctuate, SHFE 2501 Contract Closes at 75,440 Yuan/mt with Narrowed Inverted Spread

[SMM Brass Billet Flash] According to SMM, the current tight supply of secondary brass remains unchanged, raw material prices stabilize at highs, and processing profit margins continue to be squeezed. This week, days of raw material inventories at sampled enterprises stood at 3.52 days, remaining low. However, downstream buyers mainly made just-in-time procurement, with weak willingness to restock proactively, and finished product inventory destocking was hindered once again. This week, days of finished product inventories at sampled enterprises stood at 5.11 days.

[SMM Flash de palanquilla de latón] De cara a la próxima semana (9.4-9.10), es probable que los precios del cobre se consoliden en niveles altos a corto plazo, pero se espera que los pedidos de demanda rígida aguas abajo experimenten una ligera liberación después de que las mercancías a bajo precio se digieran gradualmente. SMM espera que la tasa operativa repunte ligeramente hasta el 49,06 %, un aumento intermensual de 0,57 puntos porcentuales.

[SMM Brass Rod Flash] This week (8.28-9.3), the operating rate of SMM brass rod sample enterprises was 48.49%, down 0.06 percentage points WoW. Copper prices continued to consolidate at highs, end-user wait-and-see sentiment remained strong, downstream orders lacked momentum, and the operating rate continued to edge down.