[SMM HRC Arrivals] The arrivals in south China decreased by 48%. What's Going On?

According to SMM statistics, the estimated total shipments from mainstream markets this week was 224,400 mt, down 74,600 mt WoW. By market:

Shanghai market: This week, the shipments in the Shanghai market narrowly fluctuated WoW. Specifically, shipments from North-east China saw a slight increase, while shipments from south China saw a slight decrease, resulting in minimal overall change. Looking ahead, the recent weak performance of HRC prices has made it difficult for traders to sell, leading to low enthusiasm for placing orders. It is expected that the arrivals in the Shanghai market will remain at a medium level in the short term.

Lecong market: This week, shipments to the Lecong market saw a sharp drop, mainly due to the continuous rise in water levels in the upper reaches of the Xijiang and Beijiang rivers. For safety reasons, the Foshan Maritime Safety Administration implemented water traffic control in the area, significantly reducing DDH and WG shipments. Looking ahead, the Maritime Safety Administration announced the lifting of restrictions on Monday, and the market has gradually started queuing for unloading. Future arrivals are expected to remain largely stable. However, considering that the cargo has not been completely sold, the concentrated unloading will put some pressure on inventory levels for the next cycle.