Nippon Steel to Hike Tinplate Export by US$ 200-250/t

Nippon Steel got US$ 200-250 per tonne higher price for tinplate export for April-June shipment compared with January-March. The firm pushed the higher price to cover extremely higher raw materials cost and some of the buyers accepted the higher price while the firm still negotiates with other buyers. The export price hits record level under tight supply. The firm, which exports around 70,000 tonnes per month of tinplate, said the higher price is accepted by buyers in Middle East, Central and South America and Africa along with the main market of Asia. The firm indicates additional hike in and after July depending on coking coal price for fiscal 2008 starting April. The firm already started the negotiation with domestic buyers to seek 20,000 yen per tonne higher price.