SMM Steel News on July 21: According to SMM statistics, the estimated total shipments of resources in major markets this week were 232,600 mt, a decrease of 31,400 mt from the shipment level WoW. By market:
Chart-1: Comparison of Arrivals in Major Markets
Source: SMM Steel
Shanghai Market: Shipments in the Shanghai market declined WoW this week. Specifically, shipments of mainstream resources from north-east and south China decreased, while shipments from north China increased. Looking ahead, with the recent increase in HRC prices, merchants' enthusiasm for ordering has increased, and shipments to Shanghai are expected to increase slightly next week.
Chart-2: Arrivals in the Shanghai Market
Source: SMM Steel
Lecong Market: Shipments to Lecong declined WoW this week. Specifically, on the one hand, arrivals of resources from north China remained stable. On the other hand, due to the price advantage in east China, shipments of local mainstream resources WG and DDH were diverted, resulting in a slight decrease in overall arrivals this week. Looking ahead, with the recent significant increase in spot prices in Lecong and a narrowing of price spreads, it is expected that the short-term arrival level in Lecong will remain moderate.
Chart-3: Arrivals in the Lecong Market
Source: SMM Steel
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