SMM Steel News on July 1: According to SMM statistics, the estimated total shipments of resources in mainstream markets this week were 275,200 mt, an increase of 31,500 mt compared to the shipment level WoW. By market:
Chart-1: Comparison of Arrivals in Mainstream Markets
Source: SMM Steel
Shanghai Market: Shipments in the Shanghai market increased slightly WoW this week. 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-2: Arrivals in the Shanghai Market
Source: SMM Steel
Lecong Market: Shipments to Lecong increased slightly WoW this week. Specifically, on the one hand, resources from north China increased slightly, while the inbound volumes of local mainstream resources DDH and WG remained stable. Overall, arrivals changed slightly this week. Looking ahead, as the shipment plans of mainstream resources may continue to be high, arrivals in Lecong will remain at a moderately high level in the short term.
Chart-3: Arrivals in the Lecong Market
Source: SMM Steel
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