[SMM Hot-Rolled Coil Arrivals] Arrivals in the South China market fell markedly WoW this week

SMM Steel March 24: According to SMM statistics, the estimated total shipments of mainstream markets this week reached 214,800 mt, down 19.04% WoW. By market:

Table 1: Arrivals Comparison in Mainstream Markets

Data source: SMM Steel

Shanghai market: Hot-rolled coil shipments in Shanghai declined slightly this week. Specifically, shipments from mainstream steel mills in south China decreased marginally, while those from other regions remained basically flat. Short term, east China's price advantage remains limited, so steel mills' shipments are likely to stabilize, with Shanghai's shipment levels expected to fluctuate rangebound next week.

Chart 1: Arrivals in Shanghai Market

Data source: SMM Steel

Lecong market: Shipments to Lecong dropped significantly WoW. The main reason was a substantial decline in shipments of local mainstream resources, as WG typically produces specialty steels mid-month, leading to a notable MoM reduction in shipments this period. Looking ahead, in-transit mainstream resources remain scarce, so Lecong's arrivals may stay low next week, creating opportunities for local inventory drawdown.

Chart 2: Arrivals in Lecong Market

Data source: SMM Steel

SMM releases weekly hot-rolled shipment data for mainstream markets every Tuesday. Scan the QR code below to subscribe or access more data.