SMM Steel News on April 29: According to SMM statistics, the estimated total resource shipments in the mainstream market this week were 262,400 mt, an increase of 44,100 mt compared to the shipment level WoW. By market:
Chart-1: Comparison of Arrivals in Mainstream Markets
Data source: SMM Steel
Shanghai market: Shipments in the Shanghai market increased significantly WoW this week. Specifically, shipments in the South China and North China markets rose, with a more noticeable increase in mainstream resources in South China. Looking ahead, with the concentrated shipment of mainstream resources in South China this week, shipments are expected to pull back next week. Additionally, given the recent relatively low price advantage in the Shanghai market, shipments in the Shanghai market are expected to decline slightly next week.
Chart-2: Arrivals in the Shanghai Market
Data source: SMM Steel
Lecong market: Shipments flowing to the Lecong market decreased WoW this week. Specifically, on the one hand, resources from North China remained stable. On the other hand, due to shipping preferences, mainstream local resources decreased WoW. Looking ahead, as mainstream steel mills still have a tendency to redirect pig iron, the overall shipping pressure remains relatively small. Therefore, it is expected that arrivals in the Lecong market will remain at a low level next week.
Chart-3: Arrivals in the Lecong Market
Data source: SMM Steel
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