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Table 1: Comparison of Mainstream Market Arrivals
Data Source: SMM Steel
Shanghai Market:Before and after the Chinese New Year, shipments in the Shanghai market increased on a WoW basis. Specifically, mainstream steel mills in north-east China concentrated their shipments, significantly raising shipment levels, while resources from south and north China fluctuated relatively little. Looking ahead, with post-holiday resumption of work and production, downstream demand is expected to gradually recover. At present, steel mill orders and profitability remain moderate, and production and shipment enthusiasm is relatively high. It is anticipated that HRC arrivals in the Shanghai market will remain at a relatively high level in the short term.
Chart-1: Shanghai Market Arrivals
Data Source: SMM Steel
Lecong Market:Before and after the Chinese New Year, shipments to the Lecong market increased slightly on a WoW basis. Specifically, resources from north China remained stable with no significant increase, while shipments of mainstream local resources in south China increased on a WoW basis, with steel mills showing strong shipment enthusiasm. Overall, arrivals increased slightly. Looking ahead, steel mills are expected to maintain high shipment enthusiasm in the short term, and shipments to the Lecong market are likely to remain at historically high levels for the same period in previous years.
Chart-2: Lecong Market Arrivals
Data Source: SMM Steel
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