[SMM HRC Arrivals] Shipments Continued to Drop WoW  

SMM Steel September 2: According to SMM statistics, the estimated total shipments of mainstream market resources this week reached 240,100 mt, down 7.37% WoW. By market:

Chart-1: Mainstream Market Arrivals Comparison

Source: SMM Steel

Shanghai market: Shipments in the Shanghai market dropped slightly WoW. Specifically, shipments from mainstream resources in northeast, east China, and south China remained basically stable, while arrivals from mainstream steel mills in north China pulled back slightly. Looking ahead, HRC prices have been in the doldrums recently, with sluggish market transactions and weak ordering enthusiasm among traders. Short-term shipments in the Shanghai market are expected to stay at low levels.

Chart-2: Shanghai Market Arrivals

Source: SMM Steel

Cong market: Shipments to the Cong market continued to decline WoW. On one hand, arrivals of resources from north China saw a modest increase, while on the other hand, shipments of local mainstream resources shifted due to stronger price advantages in east China. Going forward, mainstream steel mills’ shipments in September are expected to remain stable as no discounts are offered. However, with better prices in east China, some mills may continue to redirect shipments in the short term. Overall, arrivals in the Cong market are likely to stay stable.

Chart-3: Cong Market Arrivals

Source: SMM Steel

SMM releases weekly HRC shipment data for mainstream markets every Tuesday. To subscribe or access more data, please scan the QR code below.