SMM Steel, January 21 - According to SMM statistics, total shipments in mainstream markets this week were estimated at 274,000 mt, down 15,800 mt WoW. By market:
Table 1: Comparison of Arrivals in Mainstream Markets
Data Source: SMM Steel
Shanghai Market: Shipments in the Shanghai market decreased slightly WoW this week. Specifically, shipments from northern and other east China markets remained basically stable, while shipments of mainstream resources in south China declined WoW. Looking ahead, as the Chinese New Year approaches, some steel mills are accelerating their shipment pace, and shipment levels are expected to increase slightly in the next 1-2 weeks.
Chart-1: Arrivals in the Shanghai Market
Data Source: SMM Steel
Lecong Market: Shipments to the Lecong market increased this week. Specifically, resources from north China remained stable with no significant growth, while shipments of mainstream local resources in south China increased WoW. Steel mills accelerated the digestion of in-plant inventory, leading to a slight increase in overall arrivals. Looking ahead, according to the SMM survey, mainstream resources in south China maintained full production in January. As the holiday approaches, steel mills are actively shipping, and shipments to the Lecong market are expected to remain at a high level.
Chart-2: Arrivals in the Lecong Market
Data Source: SMM Steel
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