Recently, the brass billet market has shown a relatively sluggish trend. Multiple brass billet companies have reported that downstream sectors, affected by tariffs, have adopted a cautious approach to inventory preparation, leading to a sharp decline in new orders. This year's orders are expected to reach only about 80% of last year's level on a YoY basis. From the perspective of brass billet companies themselves, there has not been a significant increase in inventory preparation. On one hand, the uncertainty of downstream demand has made companies hesitant to increase inventory, fearing that future market demand may fall short of expectations, resulting in inventory accumulation. On the other hand, the tight supply of raw materials has also limited companies' ability to prepare inventory. SMM expects that, without significant adjustments to tariff policies, the brass billet market will continue to maintain this sluggish trend in the near future.