Brass Billet Enterprises' Raw Material Inventories Still Stay Low

[SMM Brass Billet Flash] SMM believes that July brass billet imports pulled back sharply MoM, mainly due to China's downstream entering the traditional consumption off-season. End-use demand for brass billet in China was in the doldrums, processing enterprises mainly consumed their own inventory, purchase willingness outside China weakened, and import orders contracted. However, cumulative imports from January to July still achieved positive YoY growth, and supply from outside China continued to supplement the domestic market. Going forward, China's end-use demand for brass billet has not shown clear signs of recovery. If no concentrated restocking occurs, brass billet imports are expected to remain in the doldrums.

[SMM Brass Billet Flash] In terms of import value, July brass billet import value was $22.9232 million, down 23.65% MoM and up 23.04% YoY; cumulative import value for January-July 2026 was $158.656 million, up 31.74% YoY. Monthly imports pulled back significantly MoM, but import value maintained positive YoY growth, reflecting that import value stayed high.

[SMM Brass Billet Flash] From the perspective of import source structure, South Korea remained China's largest source of brass billet imports. In July, China imported 893 mt of brass billet from South Korea, down 28.53% MoM and up 22.48% YoY, accounting for 39.58% of total imports for that month. Thailand rose to the second-largest source, with imports of 334.5 mt in July, down 24.76% MoM and up 447.99% YoY. Japan ranked third, importing 326.8 mt in July, down 35.82% MoM and down 29.03% YoY. The three core supplying countries—South Korea, Thailand, and Japan—together accounted for over 60% of total imports in that month, maintaining a stable traditional supply landscape in East Asia.