China's Brass Billet Imports Up Both YoY and MoM in March!

According to the latest customs data, China's imports of copper-zinc alloy (brass) bars and rods totaled 2,796.93 mt in physical content in March 2026, up 3.37% YoY and up significantly 107.97% MoM. The sharp MoM surge was mainly driven by the low base effect from the Chinese New Year holiday in February — effective production time in February was significantly shortened, leading to a sharp decline in imports, while concentrated restocking demand following production resumptions in March drove a notable rebound in imports. Cumulative imports from January to March 2026 reached 6,191.8 mt in physical content, down 4.38% YoY on a cumulative basis (HS codes 74072111, 74072119, 74072190).

Import sources: South Korea remained China's largest source of brass billet imports, with March imports of 1,189.35 mt, up 186.6% MoM and up 1.15% YoY, accounting for 42.52%. Japan ranked second, with March imports of 713.4 mt, up 132.48% MoM and up 40% YoY, accounting for 25.51%.

Import value: March import value was $26.0562 million, up 105.94% MoM and up 30.62% YoY. Cumulative import value from January to March 2026 was $56.3455 million, up 17.38% YoY on a cumulative basis. Notably, the cumulative increase in import value (+17.38%) was significantly higher than the cumulative change in imports (-4.38%), reflecting that brass billet import unit prices rose YoY due to raw material costs continuing to fluctuate at highs.

Outlook: The brass billet market is expected to face a phase of "high costs, low demand, and weak expectations" in the near term. Copper prices staying high are pushing up production costs, while end-use consumption has yet to recover notably, leading to sluggish market trading. SMM expects the brass billet import market to continue operating at low levels in Q2 2026.