SMM Steel News on May 13: According to SMM statistics, the estimated total resource shipments in the mainstream market this week were 244,500 mt, a decrease of 1,500 mt WoW from the shipment level last week. By market:
Chart-1: Comparison of Arrivals in Mainstream Markets
Data source: SMM Steel
Shanghai market: This week, shipments in the Shanghai market declined slightly WoW. Specifically, shipments of resources from north-east China increased slightly, while shipments from north and south China decreased WoW. Looking ahead, with relatively low prices in the Shanghai market recently and sluggish downstream transactions, traders' enthusiasm for purchasing is generally low. It is expected that arrivals in the Shanghai market will remain at a moderately low level in the short term.
Chart-2: Arrivals in the Shanghai Market
Data source: SMM Steel
Lecong market: Shipments flowing to the Lecong market increased somewhat WoW this week. Specifically, on the one hand, resources from north China remained stable, while on the other hand, shipments of local mainstream resources WG and DDH both increased slightly WoW from last week. Looking ahead, local mainstream resources are expected to maintain their current shipment levels in the short term, with overall supply pressure remaining relatively small. Therefore, it is expected that arrivals in the Lecong market will remain low in the short term.
Chart-3: Arrivals in the Lecong Market
Data source: SMM Steel
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