SMM Steel reported on April 1 that, according to SMM statistics, the estimated total shipments of mainstream market resources this week were 190,800 mt, down 22,900 mt WoW. By market:
Table 1: Mainstream Market Arrivals Comparison
Data Source: SMM Steel
Shanghai Market: Shipments in the Shanghai market remained stable WoW, with relatively small changes in shipments across markets. Looking ahead, as domestic HRC supply rebounds MoM in April, coupled with the resumption of production at some mainstream steel mills after maintenance, arrivals in the Shanghai market are expected to increase starting next week.
Chart 1: Shanghai Market Arrivals
Data Source: SMM Steel
Lecong Market: Shipments to the Lecong market declined WoW. Specifically, resources from North China remained stable, while the total volume of local mainstream resources decreased, leading to a continued reduction in overall arrivals WoW. Looking ahead, mainstream resource shipments in April are expected to be discounted, with relatively small arrival pressure, but arrivals in the Lecong market are expected to see some increase next week.
Chart 2: Lecong Market Arrivals
Data Source: SMM Steel
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