SMM Steel, October 21 – According to SMM statistics, the estimated total resource shipments for mainstream markets this week were 186,900 mt, down 28.36% 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 WoW this week. Specifically, the reduction mainly came from mainstream steel mills in North and South China, as some mills recently adjusted their production and delivery varieties. Looking ahead, with hot-rolled coil prices in the doldrums and mediocre performance in market transactions, traders’ enthusiasm for placing orders is moderate. It is expected that shipments to the Shanghai market will continue to fluctuate at low levels in the short term.
Chart-1: Arrivals in the Shanghai Market
Data Source: SMM Steel
Lecun Market: Shipments to Lecun also saw a significant WoW decrease this week. Specifically, arrivals of resources from North China remained stable WoW, while local mainstream resources declined, mainly due to WG’s plan to produce special steel mid-month, leading to a shift in hot metal. Looking ahead, considering the stronger price advantage in East China over South China, but with some hot metal expected to flow back to WG, it is anticipated that future arrivals will remain at low levels.
Chart-2: Arrivals in the Lecun Market
Data Source: SMM Steel
SMM releases weekly data on hot-rolled shipments to mainstream markets every Tuesday. For subscriptions or more information, please scan the QR code below.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM’s internal database model, for reference only and do not constitute decision-making recommendations.
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