[SMM Hot-Rolled Arrivals] Arrivals increased notably WoW from the holiday period.

SMM Steel, Oct 14 – According to SMM statistics, the estimated total resource shipments in mainstream markets this week were 260,900 mt, up 51.33% WoW from last week’s shipment level. By market:

Table 1: Mainstream Market Arrival Comparison

Source: SMM Steel

Shanghai Market: Shipments in the Shanghai market decreased during the holiday, but rebounded WoW this week. Specifically, the increase mainly came from mainstream steel mills in North China and South China. Looking ahead, although hot-rolled coil prices weakened recently, market transactions remained sluggish, and merchants were cautious in placing orders, some mainstream steel mills increased their production schedule this month. Arrivals to the Shanghai market are expected to fluctuate rangebound over the next 1–2 weeks compared to this week.

Chart 1: Shanghai Market Arrivals

Source: SMM Steel

Lecong Market: Shipments to the Lecong market increased significantly WoW. Specifically, arrivals of resources from North China remained stable WoW, while local mainstream resources increased WoW compared to the holiday period, leading to a notable WoW rise in overall arrivals. Going forward, although the willingness of local mainstream resources to ship to South China is expected to decline slowly in the short term, given that East China prices hold a stronger advantage than South China, arrivals are expected to decrease subsequently.

Chart 2: Lecong Market Arrivals

Source: SMM Steel

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