SMM Steel, April 8: According to SMM statistics, the estimated total resource shipments in mainstream markets this week were 246,300 mt, up 51,800 mt WoW. By market:
Chart-1: Mainstream Market Arrivals Comparison
Data source: SMM Steel
Shanghai Market: Shipments in the Shanghai market rose slightly WoW. Specifically, shipments from the north-east, north, and east China markets fluctuated relatively small, while shipments from mainstream resources in south China increased. Looking ahead, domestic HRC production is expected to gradually increase in April, and the Shanghai market is expected to have incremental space in arrivals in the next 1-2 weeks.
Chart-1: Shanghai Market Arrivals
Data source: SMM Steel
Lecong Market: Shipments to the Lecong market increased significantly WoW. Specifically, resources from north China remained stable, while shipments from local mainstream resources resumed after maintenance, leading to a continued increase in overall arrivals WoW. Looking ahead, mainstream resource shipments in April are expected to be discounted, and overall arrival pressure is relatively small, but the increment in arrivals to the Lecong market may slow down next week.
Chart-2: Lecong Market Arrivals
Data source: SMM Steel
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