[SMM Brass Billet Weekly Review] This week (10.3-10.9), the brass billet industry performed weakly overall, with the operating rate of enterprises recording 41.3%, down 7.18 percentage points from before the holiday. The National Day holiday was the main reason, as many enterprises arranged shutdowns and holidays, leading to a slowdown in the production pace. In terms of inventory, the raw material inventory of sample enterprises remained at 4.45 days, while the finished product inventory was 5.99 days. Affected by the rapid surge in copper prices, enterprises generally controlled stockpiling, resulting in an overall contraction in inventory levels compared to the previous period.