Post-holiday resumption pace slow, brass billet operating rate slightly rebounds from low level [SMM Brass Billet Market Weekly Review]

Published: Feb 26, 2026 18:31

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Following the Chinese New Year holiday, brass billet enterprises gradually resumed production, driving the industry's operating rate up 17.12 percentage points WoW to 17.12% during the week of 2.20-2.26. However, the overall pace of resumption was slower than in previous years. Currently, only some medium and large-sized enterprises have started production, while many small and medium-sized enterprises remain idle or partially shut down. Full-scale production resumptions are expected only after the Lantern Festival. Enterprises currently exhibit weak stockpiling sentiment, mostly consuming pre-holiday inventories. Downstream production resumptions are also progressing slowly, with limited new orders, leading to cautious overall market performance. SMM forecasts the operating rate will increase 24.06 percentage points WoW to 41.18% next week (2.27-3.5), but it still has not recovered to pre-holiday levels. Subsequent attention should focus on the recovery of downstream demand.

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