SMM Steel April 7 — According to SMM statistics, estimated total shipments from mainstream markets this week were 182,800 mt, up 8.68% WoW.
By market:
Table-1: Mainstream Market Arrivals Comparison
Data source: SMM Steel
Shanghai market: HRC shipments to the Shanghai market increased WoW this week. Specifically, shipments from northeast and east China steel mills were basically stable, shipments of north China resources edged up slightly, and mainstream south China steel mills shipped less last week but rebounded this week on a WoW basis. In the short term, the Shanghai market lacked a competitive edge recently, coupled with sluggish inventory destocking, traders showed low enthusiasm for ordering, and steel mill shipments remained largely stable. Shipments to the Shanghai market next week are expected to see limited WoW fluctuations.
Chart-1: Shanghai Market Arrivals
Data source: SMM Steel
Lecong market: Shipments to Lecong narrowed slightly on a WoW basis this week. Specifically, local mainstream resources showed no significant WoW change, while north China resources decreased slightly. Going forward, local mainstream steel mill WG is expected to continue fulfilling export and specialty steel orders, making it difficult for domestic trade shipment levels to increase significantly in the short term, so arrivals are expected to remain at relatively low levels in the near term.
Chart-2: Lecong Market Arrivals
Data source: SMM Steel
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