SMM Steel, September 16 - According to SMM statistics, the estimated total resource shipments in mainstream markets this week were 231,500 mt, down 2.73% WoW. By market:
Table 1: Comparison of Mainstream Market Arrivals
Data source: SMM Steel
Shanghai market: Shipments in the Shanghai market decreased slightly WoW. Specifically, shipments of resources from Northeast China increased slightly, while shipments of mainstream resources from North and South China decreased WoW. Looking ahead, recent HRC prices have moved sideways, but downstream purchasing enthusiasm remains weak. Most merchants are cautiously placing orders to control inventory, and shipments from mainstream steel mills are expected to fluctuate at medium to low levels in the short term.
Chart 1: Shanghai Market Arrivals
Data source: SMM Steel
Lecong market: Shipments to the Lecong market increased WoW. Specifically, previously ordered resources from North China have arrived gradually, leading to an increase in arrivals from North China. On the other hand, overall shipments of local mainstream resources decreased slightly, but the decline was offset by the increase in North China resources. Looking ahead, current prices in Lecong are moderate, and local mainstream resources maintain high shipment levels. Arrivals in Lecong are expected to continue fluctuating at highs.
Chart 2: Lecong Market Arrivals
Data source: SMM Steel
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