SMM Steel, August 19 - According to SMM statistics, the estimated total resource shipments for mainstream markets this week were 270,100 mt, down 18.57% WoW from last week's shipping levels. By market:
Table 1: Comparison of arrivals in mainstream markets
Data source: SMM Steel
Shanghai market: Shipments to Shanghai decreased slightly WoW this week. Specifically, shipments to Northeast, North, and East China remained basically stable, while shipments from mainstream steel mills in South China declined MoM. Looking ahead, with HRC prices fluctuating rangebound recently, market transactions have been mediocre, and merchants' enthusiasm for placing orders is low. It is expected that the arrival level in the Shanghai market will remain at a medium-low level in the short term.
Chart-1: Arrivals in the Shanghai market
Data source: SMM Steel
Lecun market: Shipments to Lecun also decreased WoW this week. Specifically, on one hand, arrivals of resources from North China decreased WoW, and on the other hand, the shipment level of local mainstream resources DDH decreased slightly. Looking ahead, as the price gap between South and East China is relatively small, steel mill shipments are likely to remain stable. It is expected that the arrival level in Lecun will continue to be at a relatively high level in the short term.
Chart-2: Arrivals in the Lecun market
Data source: SMM Steel
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