[SMM Price] April 8, 2020 Golden Dragon Brass Bar Price

[SMM Brass Billet News Flash] According to SMM, disrupted by factors such as invoice issues, the supply of recycled brass raw materials remained tight, and brass billet enterprises' raw material inventory continued to decline. Meanwhile, enterprises became more cautious in taking orders due to concerns about inability to deliver on time.

【SMM Copper Cathode Rod News】Inventory: Raw material inventory declined as enterprises restocked only on an as-needed basis without concentrated restocking after the holiday. Finished product inventories saw slight destocking as warehouse withdrawals outpaced restocking due to the holiday market closure and equipment maintenance. SMM expects enterprises to resume normal production after the holiday, with operating rates up 3.07 percentage points WoW. However, elevated copper prices are suppressing procurement, and operating rates still face the risk of falling short of expectations.

[SMM Brass Billet News Flash] Looking ahead to next week (5.8-5.14), as the impact of the holiday fades, SMM expects the industry operating rate to rebound 7.73 percentage points MoM to 52.4%. However, judging from enterprise order-taking feedback, the industry has gradually entered the traditional off-season, and operating levels will be difficult to restore to pre-holiday levels.