[SMM Brass Bar Flash News] Looking ahead to next week (4.3-4.9), order momentum has cooled somewhat from the initial period after the Chinese New Year, but the refrigeration sector still provides support, and large enterprises are maintaining active production. Considering multiple factors, SMM expects the industry's operating rate next week to edge up 0.32 percentage points MoM to 55.48, with overall operations remaining mild.

[SMM Brass Bar Flash News] This week (3.27-4.2), the operating rate of the brass billet industry came in at 55.16, up a slight 0.77 percentage points WoW. The industry as a whole remained mild, supported strongly by robust demand from downstream refrigeration and heat dissipation sectors.

[SMM Brass Bar Flash News] Looking ahead to April, enterprises reported that current order momentum has cooled somewhat compared with the initial period after the Chinese New Year, but the refrigeration sector still maintained a certain degree of support. Large enterprises maintained an active production stance and continued to capture market share. SMM expects the operating rate in April to increase slightly by 1.47 percentage points MoM to 54.06%.

[SMM Brass Bar Flash News] After returning from the holiday, brass bar enterprises saw solid order performance, exceeding market expectations. Robust demand from downstream refrigeration and heat dissipation sectors provided strong support, while downstream customers actively picked up goods to fulfill orders, driving a slight drop back in finished product inventories at copper billet enterprises.

[SMM Brass Bar Flash News] In March, the comprehensive operating rate of copper billet enterprises was 52.59, up 29.81 percentage points MoM and down 1.79 percentage points YoY. In March, the operating rate of large enterprises was 59.81, that of medium-sized enterprises was 43.93, and the operating rate of small enterprises was only 28.7, with clear divergence among enterprises.

[SMM Brass Bar Flash News] As of the week ending March 27, the weekly CIF China quotation for US brass scrap had risen to $7,750/mt. Recycled brass raw materials prices continued to stay high, and overall spot availability in the market remained tight. High raw material costs made brass billet enterprises more cautious in their procurement strategies, with stockpiling willingness weakening significantly.

[SMM Brass Bar Flash News] Recently, the brass bar industry has been facing the dual challenge of persistently high raw material costs and diverging market demand. According to SMM, although the industry's overall operating rate has rebounded slightly amid the continued rise in prices of recycled brass raw materials, enterprises' willingness to stockpile has declined markedly, and wait-and-see sentiment in the market remains strong.

According to the latest customs data, in January 2026, China’s imports of copper-zinc alloy (brass) bars and rods were 2,050.01 mt in physical content, down 8.37% MoM and up 24.53% YoY. In February, China’s imports of copper-zinc alloy (brass) bars and rods were 1,344.87 mt in physical content, down 34.4% MoM and down 36.67% YoY, showing an overall sharp decline. Cumulative imports in January-February 2026 were 3,394.87, down 9.94% YoY cumulatively. (HS codes 74072111, 74072119, 74072190).

[SMM Flash News] The 2026 Chinese New Year holiday fell in February, significantly shortening effective production time, which was one of the reasons for the sharp decline in brass billet imports in February. In addition, persistently high raw material costs clearly suppressed import demand. In terms of operating conditions, the pace of work resumption in the brass billet industry after Chinese New Year was also noticeably slower than in previous years.

[SMM Brass Bar Bulletin] According to SMM, affected by price fluctuations, copper billet enterprises mostly adopted a strategy of restocking when prices were low on the raw material side to control procurement costs; downstream enterprises maintained a procurement pace of purchasing as needed, with relatively cautious sentiment toward picking up goods. As a major brass billet production hub in China, Ningbo saw enterprise production and shipment pace remain stable, with a moderate overall market trading atmosphere, though wait-and-see sentiment increased.