SMM Steel, September 23: According to SMM statistics, the estimated total shipments in mainstream markets this week were 235,600 mt, up 1.77% WoW. By market:
Table 1: Comparison of Arrivals in Mainstream Markets
Data source: SMM Steel
Shanghai market: Shipments in the Shanghai market increased slightly WoW. Specifically, shipments from mainstream resources in north China increased slightly, while shipments from south China decreased. Looking ahead, recent typhoons in coastal areas of south China may affect the transportation of in-transit resources and port operations. Arrivals are expected to increase slightly next week.
Chart 1: Arrivals in the Shanghai Market
Data source: SMM Steel
Lecong market: Shipments to the Lecong market decreased WoW. Specifically, arrivals from north China decreased slightly, while shipments from local mainstream resources remained stable. Looking ahead, due to a significant increase in arrivals and rapid inventory accumulation in the Lecong market, the price spread between south China and east China has widened. Shipments from local mainstream resources are expected to shift, and arrivals in Lecong may contract.
Chart 2: Arrivals in the Lecong Market
Data source: SMM Steel
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