SMM Steel News on July 1: According to SMM statistics, the estimated total resource shipments from mainstream markets this week were 275,200 mt, an increase of 31,500 mt WoW from the shipment level last week. By market:
Table 1: Comparison of Arrivals in Mainstream Markets
Source: SMM Steel
Shanghai Market: This week, shipments in the Shanghai market increased slightly WoW. Specifically, shipments of resources from north-east China and south China increased, while shipments from north China and east China remained stable. Looking ahead, with the recent fluctuating rangebound HRC prices and the impact of the off-season becoming apparent, downstream procurement has become more cautious, and merchants' purchase willingness is weak. It is expected that arrivals in the Shanghai market will remain at a moderately low level in the short term.
Chart-1: Arrivals in the Shanghai Market
Source: SMM Steel
Lecong Market: This week, shipments from Lecong increased slightly WoW. Specifically, on the one hand, resources from north China increased slightly, while the inbound volumes of local mainstream resources DDH and WG remained stable, resulting in a slight fluctuation in arrivals this week. Looking ahead, with the shipment plans of mainstream resources expected to continue to be high, arrivals in Lecong will remain at a moderately high level in the short term.
Chart-2: Arrivals in the Lecong Market
Source: SMM Steel
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