SMM Steel, August 26 - According to SMM statistics, the estimated total resource shipments for mainstream markets this week were 259,200 mt, down 4.04% WoW from last week's shipment levels. By market:
Table 1: Comparison of Mainstream Market Arrivals
Data Source: SMM Steel
Shanghai Market: Shipments in the Shanghai market were basically stable WoW. Specifically, the shipments of mainstream resources in the northern, east China, and southern markets fluctuated rangebound. Looking ahead, with HRC prices moving sideways recently and sluggish market transactions, merchants' enthusiasm for placing orders is low. It is expected that arrivals in the Shanghai market will not see a significant increase in the short term.
Chart-1: Shanghai Market Arrivals
Data Source: SMM Steel
Lecun Market: Shipments to Lecun decreased somewhat WoW this week. Specifically, on one hand, arrivals of North China resources remained stable, while on the other hand, local mainstream resource shipments showed mixed changes. Looking ahead, with a relatively small price gap between South China and East China, steel mill shipments are expected to remain stable. However, considering that some mainstream steel mills may prioritize producing export-bound resources in the near future, it is anticipated that the short-term arrival levels in Lecun may show a downward trend.
Chart-2: Lecun Market Arrivals
Data Source: SMM Steel
SMM releases HRC shipment data for mainstream markets every Tuesday. For subscriptions or more data, please scan the QR code below.
