SMM Steel, February 11—According to SMM statistics, the total estimated shipments to mainstream markets this week reached 353,300 mt, down 12,700 mt WoW. By market:
Table 1: Comparison of Arrivals in Mainstream Markets
Data Source: SMM Steel
Shanghai Market: Shipments to the Shanghai market decreased WoW this week. Specifically, last week saw concentrated shipments from north-east China, while this week shipments returned to normal levels. Shipments from south China also declined. Looking ahead, according to the SMM survey, steel mills actively took orders before and after the Chinese New Year, with high enthusiasm for production and shipments. HRC arrivals in the Shanghai market are expected to slightly increase next week.
Chart-1: Arrivals in the Shanghai Market
Data Source: SMM Steel
Lecong Market: Shipments to the Lecong market increased significantly WoW this week. Specifically, resources from north China remained stable with no significant growth, while the main increase came from mainstream local resources in south China. Steel mills continued to actively ship winter stockpiling resources, leading to a substantial increase in overall arrivals. Looking ahead, while some steel mills have adjusted their production, overall, shipments to the Lecong market are expected to remain at historically high levels for the same period.
Chart-2: Arrivals in the Lecong Market
Data Source: SMM Steel
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