[SMM Hot-rolled Arrivals] Arrivals in Mainstream Cities Fluctuate Rangebound

SMM Steel News on May 6: According to SMM statistics, the estimated total resource shipments in mainstream markets this week were 246,000 mt, a decrease of 16,400 mt WoW from the shipment level last week. By market:

Chart-1: Comparison of Arrivals in Mainstream Markets

Source: SMM Steel

Shanghai Market: Shipments in the Shanghai market decreased WoW this week, with shipments in most markets remaining stable. The main decline was observed in mainstream resources in South China. Looking ahead, considering the general price advantage in the Shanghai market recently, shipments in the Shanghai market are expected to continue fluctuating at a medium level next week.

Chart-1: Arrivals in the Shanghai Market

Source: SMM Steel

Lecong Market: Shipments flowing to Lecong increased rangebound WoW this week. Specifically, on the one hand, resources from North China remained stable. On the other hand, shipments of local mainstream resource WG increased WoW due to production preferences. Looking ahead, there is still a possibility for pig iron from mainstream steel mills to be redirected, and the overall shipment pressure is relatively small. Therefore, it is expected that arrivals in the Lecong market will remain at a low level in the short term.

Chart-2: Arrivals in the Lecong Market

Source: SMM Steel

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