SMM Steel reported on July 8 that according to SMM statistics, the estimated total shipments of resources in the mainstream market this week were 247,000 mt, a decrease of 28,200 mt from the shipment level of the previous week. By market:
Chart-1: Comparison of Arrivals in Mainstream Markets
Source: SMM Steel
Shanghai Market:This week, shipments in the Shanghai market increased slightly on a WoW basis. Specifically, shipments from north China and south China increased slightly, while shipments from north-east China and east China were basically stable. Looking ahead, the recent circulation of resources may be affected to a certain extent by typhoons, and SMM will continue to monitor the situation.
Chart-1: Arrivals in the Shanghai Market
Source: SMM Steel
Lecong Market:This week, shipments from Lecong to other markets decreased significantly on a WoW basis. Specifically, on the one hand, resources from north China saw mixed increases and decreases, with an overall stable situation. On the other hand, due to the narrowing price spread between south China and east China, shipments of local mainstream resources were adjusted, resulting in a significant decrease in arrivals this week. Looking ahead, with the price spread advantage in south China no longer present, shipments of mainstream resources may continue to lean towards east China, so the short-term arrival level in Lecong may not be high.
Chart-2: Arrivals in the Lecong Market
Source: SMM Steel
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