Copper alloy having the basic composition Cu—Zn—Sn contains 23-28 wt % Zn and 0.3-1.8 wt % Sn and satisfies the relation 6.0≦0.25X+Y≦8.5 (where X is the addition of Zn in wt % and Y is the addition of Sn in wt %). The alloy is cast into an ingot by melting and cooling over the range from the liquidus line to 600° C. at a rate of at least 50° C./min; the ingot is hot rolled at a temperature not higher than 900° C. and then subjected to repeated cycles of cold rolling and annealing at 300-650° C. to control the size of crystal grains, thereby producing a rolled strip having a 0.2% yield strength of at least 600 N/mm2, a tensile strength of at least 650 N/mm2, an electrical conductivity of at least 20% IACS, a Young's modulus of no more than 120 kN/mm2 and a percent stress relaxation of no more than 20%.