Nippon Steel Prepares Wide Black Plate Export Hike for July-September

Nippon Steel apparently starts black plate export price negotiation in the week with Asian major tinplate makers for July-September shipment. The firm will offer wide hike under tight supply and surging hot rolled coil market. The firm declines how much the hike but the increase could reach total US$ 400 per tonne since April hitting US$ 1,200 level. JFE Steel also starts the negotiation late next week offering such wide hike. The Asian black plate supply is very tight due to strong tinplate demand and lower supply from Europe. However, Asian countries try to control price level and Thai government seeks price freeze for local tinplate makers along with stable supply. Japanese steel makers try to increase the black plate price level to cover higher cost for raw materials when the hot coil international market reaches US$ 1,000 per tonne level. Tinplate makers also try to secure the material for stable supply of tinplate. Nippon Steel is expected to offer around US$ 400 per tonne level of hike for tinplate for Asian buyers for July-September at the negotiation next week.