SMM Steel April 22 News: According to SMM statistics, the estimated total resource shipments in mainstream markets this week were 218,300 mt, down 43,700 mt WoW. By market:
Chart-1: Mainstream Market Arrivals Comparison
Data source: SMM Steel
Shanghai Market: Shipments from the Shanghai market declined significantly WoW. Specifically, the shipment declines in the north-east and north China markets, as well as the south China market, were slightly higher than those in the east China market. Looking ahead, recent sheet prices have been under pressure and fluctuating, downstream shipment pressure has increased, and purchase enthusiasm has declined. It is expected that shipment levels in the Shanghai market will fluctuate rangebound WoW next week.
Chart-1: Shanghai Market Arrivals
Data source: SMM Steel
Lecong Market: Shipments to the Lecong market fluctuated rangebound WoW. Specifically, resources from north China remained stable, while local mainstream resources also changed little WoW. Looking ahead, the production increase of sheets & plates by mainstream steel mills is relatively limited, and overall arrival pressure is relatively small. Therefore, it is expected that the increase in arrivals in the Lecong market will remain limited next week.
Chart-2: Lecong Market Arrivals
Data source: SMM Steel
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