SMM Steel, January 14 - According to SMM statistics, the estimated total shipments of mainstream market resources this week reached 289,800 mt, up 6,300 mt WoW. By market:
Table 1: Comparison of Arrivals in Mainstream Markets
Data Source: SMM Steel
Shanghai Market: This week, shipments in the Shanghai market saw a slight WoW increase. Specifically, shipments of north-east China resources remained at low levels, while shipments from north China and east China were stable. Shipments of mainstream resources from south China slightly increased. Looking ahead, January HRC production schedules at domestic steel mills are expected to increase, and with the Chinese New Year approaching, steel mills are actively shipping. Additionally, the recent rapid narrowing of the price spread between Shanghai and Lecong has slightly boosted the shipping enthusiasm of some south China steel mills. HRC arrivals in Shanghai are expected to have further room for growth next week.
Chart-1: Shanghai Market Arrivals
Data Source: SMM Steel
Lecong Market: This week, shipments to the Lecong market fluctuated rangebound. Specifically, resources from north China remained stable with no significant increase, while shipments of mainstream local resources in south China also showed no notable changes. Overall, the arrival levels remained relatively small. Looking ahead, according to the SMM survey, mainstream resources in south China are expected to maintain full production in January, with a production focus on ordinary carbon resources. Shipments to the Lecong market are likely to remain at high levels.
Chart-2: Lecong Market Arrivals
Data Source: SMM Steel
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