SMM Steel News on April 29: According to SMM statistics, the estimated total resource shipments in the mainstream market this week were 262,400 mt, an increase of 44,100 mt WoW from the shipment level last week. By market:
Table-1: Comparison of Arrivals in Mainstream Markets
Source: SMM Steel
Shanghai Market: This week, shipments in the Shanghai market increased significantly WoW. Specifically, shipments from the South China and North China markets rose this week, with a more noticeable increase in mainstream resources from South China. Looking ahead, with the concentrated shipment of mainstream resources from South China this week, shipments are expected to pull back next week. Additionally, given the relatively low price advantage in the Shanghai market recently, shipments in the Shanghai market are expected to decline slightly next week.
Chart-1: Arrivals in the Shanghai Market
Source: SMM Steel
Lecong Market: This week, shipments flowing to the Lecong market decreased WoW. Specifically, on the one hand, resources from North China remained stable. On the other hand, due to shipping preferences, mainstream local resources decreased WoW. Looking ahead, as pig iron from mainstream steel mills still has a tendency to shift, the overall shipping pressure remains relatively small. Therefore, it is expected that arrivals in the Lecong market will remain at a low level next week.
Chart-2: Arrivals in the Lecong Market
Source: SMM Steel
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